The Solar Power North Africa Conference is scheduled to take place in Cairo between 9 and 10 February, aiming to forge renewable energy-based solutions to the region’s energy challenges.
According to the conference website, the event “will explore the policy frameworks and formulate the next steps for scaling up the region’s solar power market, with a focus on Egypt, Morocco, Algeria, Libya and Tunisia. It will highlight the wealth of opportunities that present themselves to solar energy developers and investors in Egypt.”
People expected to speak at the conference include Dr. Salah El Subky, Executive Chairman of New & Renewable Energy Authority (NREA), Lamya Hady, Director of Egypt’s Solar FiT Program of the Egyptian Electricity Transmission Company (EETC) and Jeremy Crane, CEO and COO of Yellow Door and Adenium Energy Capital, respectively.
In the face of chronic shortages in electricity supply, Egypt has recently taken steps to improve its renewable energy sector by mobilizing private regional and foreign capital to invest in renewable energy sources in Egypt, among other measures.
Wind and solar power are expected to be the primary sources of this renewable energy boost and are expected to help relieve the pressures on Egypt’s energy demand. Due to the feed-in tariff (FiT) – a policy mechanism designed to stimulate investment in renewable energy technologies, which was announced in September 2014 – Egypt is anticipated to procure 4,3 gigawatts (GW) of solar and wind power production by 2017.
The country is furthermore projected by the year 2020 to generate 20 percent of its total power from renewables, according to Egypt’s New and Renewable Energy Authority. In fact, Egypt’s solar and wind markets are expected to expand to between 2 and 3 GW each by 2020.
Apricum, a consulting firm “dedicated to cleantech industry,” describes Egypt as having “exceptional availability” of solar and wind resources, earning “a spot on the global renewable power development hot list.”
Being the most populous country in the Arab world and the second largest economy in Africa, Egypt has great potential to diversify its energy sources.