Experts consider Egyptian alternative energy market as a North African potential leader
The authorities in Egypt defined alternative energy as one of the main development directions of country due to availability of natural resources necessary to elaborate the renewable energy sources.
Nowadays Egypt has a population of approximately 50 million and it is one of the most densely populated countries. Notwithstanding the political crisis, which has plunged country into the revolution and counterrevolution, social institutions in Egypt remain stable. It allowed maintaining the economy, which ranks the second place in Africa, and now business and political leaders intend to solve the outstanding problems.
One of such problems is a lack of electric power, which makes exceedingly negative impact on living conditions in the country. The authorities in Egypt have taken the decision to increase power-generating capacities by 13 gigawatt within next 5 years in order to provide the fast growing rate of power consumption. The special focus in this case is on wind power and solar energy producing. Due to feed-in tariff, adopted on September 2014, these industries power will have reached 4.3 gigawatt by 2017.
The experts state that such steps of the Egyptian authorities are conceived as decisive and all-important. In particular, the representative of Apricum–The Cleantech Advisory consultancy Martin Mitcher considers that in the nearest future many world-class partners will appear in Egyptian alternative energy market and this country will become a leader among MENA states in the alternative energy field on condition that prudent management measures are undertaken.
Experts consider Egyptian alternative energy market as a North African potential leader
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