How is the market for renewable energy in Egypt?
Al Ramahi: As the most populated country in the Arab world and the third most populated country in Africa, Egypt represents a significant power market. Economic expansion driven by the government’s reforms is also responsible for the country’s increasing power demand
Al Moneef: Egypt has tremendous potential across renewable energy, especially in wind, hydro, and solar power. These significant renewable resources, combined with our breakthrough technologies, will help to bring the cost of renewable energy down. The demand for power is growing exponentially in Egypt; Renewables will support energy production significantly in the coming years in Egypt.
Calderon: Having successfully implemented the Solar FIT program and signed the first of several wind BOO projects, the government has made Egypt a destination of choice for renewable energy developers and investors in the region. The conditions are only expected to improve as the track record develops, generating greater competition which will in turn drive down the cost of electricity produced from renewable energy.