Egypt has the potential to\u00a0generate\u00a0up to\u00a053% of its electricity from renewable sources\u00a0by 2030,\u00a0according to\u00a0a new report by the International Renewable Energy Agency (IRENA).<\/p>\n
The\u00a0Energy Renewable Energy Outlook<\/em> report, released at a conference in Cairo, found that pursuing higher shares of renewable energy could reduce\u00a0the country\u2019s energy bill\u00a0by up to\u00a0US$900\u00a0million annually in 2030.<\/p>\n Renewables could cost-effectively provide up to a quarter\u00a0of Egypt\u2019s total final energy supply in 2030. Achieving\u00a0the higher targets\u00a0would, however, require investment in renewables\u00a0to grow\u00a0from\u00a0US$2.5 billion per year to US$6.5 billion per\u00a0year.\u00a0Under current plans, Egypt aims to source 20% of its electricity from renewables by 2022, rising to 42% by 2035. Total installed capacity of renewables\u00a0in the country today\u00a0amounts to 3.7 gigawatts (GW).<\/p>\n \u201cThis\u00a0analysis offers the Egyptian energy sector a roadmap, building\u00a0on current ambitions and plans,\u00a0to enhance our position as\u00a0an energy hub connecting Europe, Asia and Africa,\u201d\u00a0said Dr Mohamed Shaker, Egyptian Minister of Electricity and Renewable Energy.<\/p>\n \u201cJob creation, economic development and the growth of local manufacturing capabilities are at the heart of our renewables programme, and\u00a0with the support of\u00a0IRENA we can pursue our plans\u00a0to\u00a0grow\u00a0the\u00a0country\u2019s\u00a0installed capacity base through\u00a0smart policies, and the latest\u00a0renewable technologies.\u201d<\/p>\n Egypt\u00a0can draw on\u00a0an abundance of renewable energy\u00a0resources to achieve higher shares of hydropower, wind, solar and\u00a0biomass.\u00a0To capitalise on this, the report suggests that national policy makers may benefit from periodically\u00a0re-evaluating the long-term energy strategy to reflect rapid advances in renewable energy technology and falling renewable power generation costs.<\/p>\n \u201cRemarkable cost reductions in renewable energy in recent years are encouraging governments all over the\u00a0world to rethink energy strategies\u00a0so as to\u00a0better reflect the\u00a0new\u00a0economics of renewables,\u201d\u00a0said\u00a0Adnan Z. Amin, IRENA Director-General.<\/p>\n \u201cEgypt\u2019s renewable energy potential is vast, and the government has now moved decisively to accelerate its deployment. The Benban solar complex with its impressive scale reflects this new momentum.<\/p>\n \u201cBuilding on these achievements, Egypt has the opportunity to further raise its ambition which entails substantially increased investments.<\/p>\n \u201cAttracting these\u00a0investments requires stable policy frameworks\u00a0and a streamlined regulatory environment that provides clarity and certainty for\u00a0investors.<\/p>\n \u201cInvestments in renewable energy not only help to meet rising energy demand but they can also contribute to fostering economic growth, creating employment and developing local manufacturing.\u201d<\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Egypt has the potential to\u00a0generate\u00a0up to\u00a053% of its electricity from renewable sources\u00a0by 2030,\u00a0according to\u00a0a new report by the International Renewable Energy Agency (IRENA). The\u00a0Energy Renewable Energy Outlook report, released at a conference in Cairo, found that pursuing higher shares of renewable energy could reduce\u00a0the country\u2019s energy bill\u00a0by up to\u00a0US$900\u00a0million annually in 2030. Renewables could cost-effectively […]<\/p>\n","protected":false},"author":25,"featured_media":22085,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[900,888,399,9057,19,260,54,262],"tags":[6916,6917,803,6912,424,6913,6909,6911,6915,6908,6914,407,6910],"class_list":["post-22082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","category-green","category-more-news","category-north-africa","category-regional-news","category-regional-news-newsletter","category-research","category-used","tag-adnan-z-amin","tag-benban","tag-cairo","tag-dr-mohamed-shaker","tag-egypt","tag-egyptian-minister-of-electricity-and-renewable-energy","tag-energy-renewable-energy-outlook","tag-gigawatts","tag-hydropower","tag-international-renewable-energy-agency","tag-irena","tag-north-africa","tag-renewables"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/22082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/comments?post=22082"}],"version-history":[{"count":4,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/22082\/revisions"}],"predecessor-version":[{"id":22140,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/22082\/revisions\/22140"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/media\/22085"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/media?parent=22082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/categories?post=22082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/tags?post=22082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}