Cairo s policy on energy storage industry

Will EGP 2 trillion be needed in Egypt's energy sector?

The International Finance Corporation (IFC) believes that EGP 2 Trillion are required to brought into Egypt’s energy sector in climate-smart investments by 2030. Egypt is expected to overtake South Africa in the next decade to become the largest electricity market in Africa.

Why does Egypt need more energy?

As the most populous country in the Middle East, with 100 million citizens estimated in 2020, Egypt faces rising energy demand driven by rapid population growth and an expanding economy. This creates significant challenges in maintaining a steady and continuous supply of energy and opportunities for the sector’s development.

What are Egypt's Vision 2030 Energy strategic objectives?

Vision 2030 Energy strategic objectives to 2030 include: NATIONAL STRATEGY FOR ENERGY Renewable energy has a central role in Egypt’s Vision 2030, which aims to achieve a diversified, competitive and balanced economy within the framework of sustainable development. Part of Egypt Vision 2030 is to increase local content in all fields.

Does Egypt have solar power?

The sun shines 9-11 hours a day from north to south, with few cloudy days. The World Bank highlights that Egypt has excellent solar resources with electricity-generating potential estimated at 73,656 terawatt- hours (TWh). According to the US International Trade Administration, the first solar thermal power plant was built in 2011 in Kuraymat.

Why did Egypt offer green bonds in the MENA region?

Egypt succeeded in offering the first green bonds in the MENA region with a value of EGP 2.74 Trillion to finance the implementation of environmentally friendly projects. 12 Energy & Utilities SOLAR ENERGY Egypt is considered a “sunbelt” country with 2,000 to 3,000 kWh/m2/year of direct solar radiation.

What is Egypt's investment law?

According to the Arab Republic’s General Authority for Investment and Freezones, Egypt’s Investment Law allows companies incorporated under its umbrella to enjoy a set of incentives and prohibits nationalisation, confiscation and freezing of assets and government interference in the pricing of companies’ products.