Egypt Wind Power Market Insights:
The market research offers historical and forecasts market data, demand, segmentation, price trends, and company shares of the leading players. The report splits the market size, by volume and value, on the basis of location, and application. First, this report covers the present status and the future prospects of the market over the forecast period. At the same time, we have classified the Egypt Wind Power Market according to the location, and application.
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Egypt Wind Power Market drivers:
The growing focus of the government to have a sustainable, low-cost, and cleaner form of energy and the rising focus on reducing carbon emission in the country are certain factors driving the growth of the Egypt wind power market. Egypt wind energy has several under construction and planned wind energy projects will further boost the market demand during the forecast period. Owing to the geographic location of Egypt, it enjoys an excellent wind regime, particularly in the Suez Gulf, where the average wind speed reaches over 10m/second. In 2019, Egypt's government declared to produce 61,000MW of renewable energy, which includes 12,00MW concentrated solar power and 18,000 wind power. The 2035 Integrated Sustainable Energy Strategy emphasizes the significance of renewable energy. The government intends to increase electricity supply from renewable sources to 20% by 2022 and 42% by 2035. Moreover, in 2020, the Minister of Electricity and Renewable Energy, Mohamed Shaker, declared a new wind power complex with a capacity of 2,000 megawatts in the Red Sea governorate – of which 500 megawatts will be produced by Siemens.
The government is also aiming at constructing four wind power plants with a total installed capacity of 2,610 MW by 2023. These projects are being built co-operatively between the NREA and EETC and will be developed by international and Egyptian private-sector entities through either build-own-operate or EPC schemes. Thus, the increasing number of upcoming projects will fuel the demand for the wind power market in Egypt in the upcoming years. On the other hand, the availability of fossil fuels and the constant increase in renewable energy sources will hinder the growth of the market during the forecast period.
The study objectives of this report are:
- To analyze the global region’s market potential and advantages, opportunity and challenge, restraints, and risks.
- To identify significant trends and factors driving or inhibiting market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
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Egypt Wind Power Market Segmentation:
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