Will Egypt's Electricity demand increase through 2024?
In its Egypt Power Report published in Q1 2021, global macro intelligence provider Fitch Solutions predicted that while demand for electricity will increase through 2024, power generation will continue to exceed total demand, creating opportunities for exports.
Why does Egypt need more energy?
Egypt’s power sector is the largest in the Middle East and North Africa region, and the country’s growing population coupled with high real GDP growth have led to a rapid increase in energy demand.
What is Egypt's energy strategy?
Egypt’s energy strategy aims to increase the supply of electricity generated from renewable sources to 20% by 2022 and 42% by 2035. Under these targets, solar would fuel 25% of the total electricity generated, wind 14% and hydropower 2%. Most of this capacity is expected to be delivered by the private sector.
Why is Mitsubishi Power partnering with Egypt?
Dr. Javier Cavada, President and CEO of Europe, Middle East and Africa at Mitsubishi Power, said: "We are proud to be here today with our Egyptian partners to celebrate the success and continuation of our collaboration to support the critical power sector in Egypt, which is a pillar of the country's economic development.
Why is wind energy important in Egypt?
Wind is an important contributor to the renewables energy mix, and Egypt is one of 38 countries in the world with a published National Wind Atlas. The government has allocated 7,845 square kilometers in the Gulf of Suez region and along the Nile banks for wind energy projects.
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