Egypt aims to increase its renewable energy proportion to 42 per cent by 2035, utilising large-scale solar and wind energy initiatives.

The country’s renewable power capacity is expected to reach 31.6GW by 2035, with a compound annual growth rate of 20.4 per cent during 2024-35, according to GlobalData.

The annual renewable power generation in Egypt is expected to increase at a CAGR of 19.4 per cent to reach 88.9TWh.

Egypt recognises renewable energy as a key factor for its economic growth, with its favorable wind energy potential, particularly in the Gulf of Suez area, and its abundant sunshine.

The adoption of renewable energy could improve energy security, preserve foreign exchange income, reduce greenhouse gas emissions, and mitigate environmental impacts.

Attaurrahman Ojindaram Saibasan, Power Analyst at GlobalData, comments: "Egypt’s primary opportunity resides in the exponential growth of electricity consumption, which correlates directly with the increasing population size. This trend presents a significant investment opportunity for companies specialising in power generation equipment."