Renewable Energy in Egypt Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Egypt Renewable Energy Market Size & Share and It is Segmented by Type (Hydro Power, Solar, Wind, and Other Types). The Report Offers the Market Size and Forecasts for Egypt Renewable Energy Market in Terms of Installed Capacity for all the Above Segments.

Egypt Renewable Energy Market Size

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Egypt Renewable Energy Market Summary
Study Period 2020-2029
Base Year For Estimation 2023
Market Volume (2024) 13.23 gigawatt
Market Volume (2029) 19.23 gigawatt
CAGR (2024 - 2029) 7.80 %
Market Concentration Medium

Major Players

Egypt Renewable Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Egypt Renewable Energy Market Analysis

The Egypt Renewable Energy Market size is estimated at 13.23 gigawatt in 2024, and is expected to reach 19.23 gigawatt by 2029, growing at a CAGR of 7.80% during the forecast period (2024-2029).

  • Over the medium period, factors such as supportive government regulations and growing demand for solar energy are expected to drive the Egypt renewable energy market during the study period.
  • On the other hand, the slow pace of energy infrastructure development, restricted land, and limited power capacity by variable renewable energy sources are expected to hinder the market growth during the study period.
  • Nevertheless, the ambitious renewable energy targets are likely to create immense opportunities for the Egypt renewable energy market during the forecast period.

Egypt Renewable Energy Market Trends

Solar Energy is Expected to Witness Significant Growth

  • Egypt has a high potential for electricity generation through solar PV plants across the country. It is considered a sunbelt country with 2,000 to 3,000 kWh/m2/year of direct solar radiation. The county's sunshine stands about 9-11 hours a day from north to south, with few cloudy days.
  • According to the International Renewable Energy Agency, in 2022, Egypt's total solar energy installed capacity accounted for 1,724 MW, an annual growth rate of 3.6% compared to the previous year. Thus, solar energy holds a significant share of the renewable energy market. The country is working toward the 2035 Integrated Sustainable Energy Strategy, i.e., to install 31,000 MW of solar power by 2035.
  • Egypt has set plans to increase the supply of electricity generated from solar photovoltaic (PV) by 22% and concentrate solar power (CSP) by 3% by 2035. The private sector is expected to deliver most of this capacity over the forecast period.
  • Additionally, with the opening of the Benban Solar Park project with a capacity of 1,465 MW, Egypt has taken a giant leap toward achieving its goal of generating electricity from renewable sources to 20% by 2022.
  • Investments in international companies like Siemens Gamesa, Toyota Tsusho, and others have helped bring down the cost of renewables in Egypt, significantly creating a more developing and competitive market.
  • With upcoming projects and large-scale investments in solar energy under various policies and strategies, the solar energy segment's share in Egypt is expected to witness significant growth during the forecast period.
Egypt Renewable Energy Market: Total Solar Energy Installed Capacity, in MW, Egypt, 2014-2022

Supportive Government Regulations Expected to Drive the Market

  • Egypt has been one of the fastest-growing African countries to install solar and wind energy since 2017, and as of 2022, the total renewable energy installed capacity was approximately 6.3 GW. The government has a vast array of renewable energy projects in the pipeline that are expected to make Egypt overtake South Africa and become the largest renewable energy market in Africa. The government of Egypt has been a critical enabler for the sector’s growth, and it is likely to play a similar role during the forecast period.
  • The government has formulated plans under its National Renewable Energy Strategy to increase the share of renewable energy in the national energy mix to 20% by 2022 and further double it to 42% by 2035. These ambitious targets are expected to be achieved with a set of policies and mechanisms such as the EPC scheme, Build-own-operate (BOO), and feed-in-tariffs (FiTs), which would promulgate the participation of private investors and attract foreign direct investment (FDI) in the market.
  • The Ministry of Electric and Renewable Energy has laid out several regulations for the diversification of the energy mix and prioritizes the implementation of renewable energy projects to generate electricity. The government has shifted from a competitive bidding process to an auction-based process for large-scale solar PV and wind projects, which is expected to drive the market during the forecast period.
  • The Egyptian-German Joint Committee on Renewable Energy, Energy Efficiency, and Environmental Protection (JCEE) has formed a joint committee that enables sustainable electricity production and consumption in Egypt by supporting measures in renewable energy and improving energy efficiency and climate change mitigation.
  • The Egyptian government's bold steps and visionary policies are expected to drive Egypt toward renewables, making it possible to achieve the renewable goal of 2035.
Egypt Renewable Energy Market: Total Renewable Energy Installed Capacity, in MW, Egypt, 2014-2022

Egypt Renewable Energy Industry Overview

The Egypt renewable energy market is semi fragmented. Some of the key players in this market (in no particular order) includes Vestas Wind Systems AS, Siemens Gamesa Renewable Energy SA, Scatec Solar ASA, SkyPower Ltd, New & Renewable Energy Authority, and others.

Egypt Renewable Energy Market Leaders

  1. Vestas Wind Systems A/S

  2. Scatec Solar ASA

  3. SkyPower Ltd

  4. New & Renewable Energy Authority

  5. Siemens Gamesa Renewable Energy, S.A.,

*Disclaimer: Major Players sorted in no particular order

Egypt Renewable Energy Market Concentration
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Egypt Renewable Energy Market News

  • In June 2023, a group of companies, including Abu Dhabi’s Masdar, have inked an agreement with Egypt’s New and Renewable Energy Authority. The agreement is to secure land for a USD 10 billion wind farm. The farm will have a capacity of 10 GW and will produce 47,790 gigawatt hours of clean energy annually.
  • In December 2022, Egypt signed an agreement with AMEA Power for a solar project and a wind farm with a combined capacity of about 1 gigawatt (GW). The deal is worth USD 1.1 billion. The Emirati renewable energy company will operate, own, and build a 500-megawatt solar facility in the Aswan governorate of Egypt and a 500MW wind farm in the Red Sea governorate.

Egypt Renewable Energy Market Report - Table of Contents


    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions




    1. 4.1 Introduction

    2. 4.2 Renewable Energy Installed Capacity and Forecast, till 2029

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

        1. Supportive Government Regulations

        2. Growing Demand for Solar Energy

      2. 4.5.2 Restraints

        1. The Slow Pace of Energy Infrastructure Development and Restricted Land

    6. 4.6 Supply Chain Analysis

    7. 4.7 PESTLE Analysis


    1. 5.1 Type

      1. 5.1.1 Hydro Power

      2. 5.1.2 Solar

      3. 5.1.3 Wind

      4. 5.1.4 Other Types


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Vestas Wind Systems AS

      2. 6.3.2 SkyPower Ltd

      3. 6.3.3 Siemens Gamesa Renewable Energy SA

      4. 6.3.4 Scatec Solar ASA

      5. 6.3.5 Toyota Tsusho Corporation

      6. 6.3.6 New & Renewable Energy Authority

      7. 6.3.7 Orascom Development Holding AG

      8. 6.3.8 Elsewedy Electric Co S.A.E.

    4. *List Not Exhaustive
    5. 6.4 Market Player Ranking


    1. 7.1 Ambitious Renewable Energy Targets

**Subject to Availability
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Egypt Renewable Energy Industry Segmentation

Renewable energy is the energy collected from renewable resources such as sunlight, wind, water movement, and geothermal heat that are naturally replenished.

Egypt renewable energy market is segmented by type. By type, the market is segmented into hydropower, solar, wind, and other types. For each segment, the market sizing and forecasts have been done based on installed capacity.

Hydro Power
Other Types
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Egypt Renewable Energy Market Research Faqs

The Egypt Renewable Energy Market size is expected to reach 13.23 gigawatt in 2024 and grow at a CAGR of 7.80% to reach 19.23 gigawatt by 2029.

In 2024, the Egypt Renewable Energy Market size is expected to reach 13.23 gigawatt.

Vestas Wind Systems A/S, Scatec Solar ASA, SkyPower Ltd, New & Renewable Energy Authority and Siemens Gamesa Renewable Energy, S.A., are the major companies operating in the Egypt Renewable Energy Market.

In 2023, the Egypt Renewable Energy Market size was estimated at 12.20 gigawatt. The report covers the Egypt Renewable Energy Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Egypt Renewable Energy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Egypt Renewable Energy Industry Report

Statistics for the 2024 Renewable Energy Sources in Egypt market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Renewable Energy Sources in Egypt analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Renewable Energy in Egypt Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)