Egypt Wind Power Market – Opportunities & Forecast, 2020-2027
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.
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.
For Additional
Insights, Click to Access Complete Report: https://www.gmiresearch.com/report/egypt-wind-power-market/
The study objectives of this report are:
1.
To analyze the global region’s market potential
and advantages, opportunity and challenge, restraints, and risks.
2.
To identify significant trends and factors
driving or inhibiting market growth.
3.
To analyze the opportunities in the market for
stakeholders by identifying the high growth segments.
Egypt Wind Power Market Segmentation:
By Location:
·
Onshore
·
Offshore
By Application:
·
Utility
·
Non-Utility
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