| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Volume (2025) | 2.81 gigawatt |
| Market Volume (2030) | 4.67 gigawatt |
| CAGR (2025 - 2030) | 10.67% |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Egypt Solar Energy Market Analysis
The Egypt Solar Energy Market size in terms of installed base is expected to grow from 2.81 gigawatt in 2025 to 4.67 gigawatt by 2030, at a CAGR of 10.67% during the forecast period (2025-2030).
- Over the medium period, supportive government policies and incentives for the solar sector and rapidly declining prices of solar modules are expected to drive the market.
- On the other hand, insufficient domestic manufacturing capacity of solar panels and related hardware and dependence on imports, which are subject to supply chain disruptions, are expected to restrain the growth of the market during the forecast period.
- Nevertheless, the geography of Egypt consists of large tracts of uninhabited desert land in the Suez Peninsula and the western desert, with solar photovoltaic potential in excess of 2000 kWh/KWp/year. The maximum utilization of the natural geography and the high domestic solar potential of Egypt are expected to provide significant growth opportunities for the Egyptian solar market beyond the forecast period.
Egypt Solar Energy Market Trends
Solar Photovoltaic Segment to Dominate the Market
- Solar Photovoltaic (PV) technology converts sunlight directly into electricity using semiconductor materials, predominantly silicon. The solar cell, the fundamental unit of this technology, produces electric current when sunlight triggers the photovoltaic effect. PV systems, known for their modularity and scalability, can be configured in various ways: rooftop, ground-mounted, floating, or even integrated into buildings.
- Egypt's vast deserts and high solar irradiance (between 2,000 to 3,200 kWh/m²/year) create an optimal setting for PV deployment. Boasting over 3,800 hours of sunshine each year and sparse cloud cover, Egypt's climate is primed for continuous solar electricity generation. Moreover, innovations like bifacial modules, solar tracking systems, and integrated inverters have bolstered the efficiency and practicality of PV systems, even in Egypt's challenging desert environment.
- Over the past decade, Egypt's Solar Photovoltaic (PV) market has surged, fueled by proactive government policies, global financing, and the nation's favorable climate. Data from the International Renewable Energy Agency (IRENA) reveals that Egypt's solar PV capacity skyrocketed from a mere 15 MW in 2014 to 2,570 MW in 2024.
- The country's flagship solar PV development is the Benban Solar Park, a massive 1.8 GW complex located in Aswan, developed under the Feed-in Tariff (FiT) program and co-financed by the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD). This project, commissioned in 2019, is one of the largest in Africa and a key milestone in Egypt's shift toward renewables.
- Recently, in December 2024, AMEA Power inaugurated its 500 MW Abydos Solar PV Plant in Egypt's Aswan Governorate, marking one of Africa's largest PV installations and a significant step in the global clean energy transition. The plant, completed in 18 months, generates 1,500 GWh of clean energy annually, powering 300,000 homes and reducing CO2 emissions by 782,300 tons. The project was financed by the International Finance Corporation (IFC), Dutch Entrepreneurial Development Bank (FMO), and Japan International Cooperation Agency (JICA).
- Further, in November 2024, the Egyptian government inked a memorandum of understanding (MoU) with UAE's Global South Utilities and China's JA Solar for two undisclosed solar manufacturing facilities. In collaboration with local firms, JA Solar is set to spearhead a 2 GW solar cell factory (USD 138 million investment) and a 2 GW PV module factory (USD 75 million investment). Global South Utilities will bolster the initiative with feasibility studies and government subsidy procurement.
- These progress underscore Egypt's ascent as a pivotal player in the solar PV landscape. With major international entities setting up expansive manufacturing capabilities emerging, Egypt is poised to solidify its status as a regional solar manufacturing nexus, driving economic growth through exports and job creation.
- Overall, Egypt's solar PV market has undergone a remarkable transformation, driven by strategic government initiatives, international collaborations, and significant investments in infrastructure and manufacturing. As the country continues to prioritize renewable energy, it is well-positioned to achieve its ambitious targets, strengthen its energy security, and establish itself as a leader in the global clean energy transition.
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Supportive Government Policies and Initiatives Driving the Market Demand
- The Egyptian government's support in the form of advantageous incentives and policies has been one of the main factors contributing to the rapid growth of the Egyptian solar market. According to the International Renewable Energy Agency (IRENA), in 2024, the total renewable energy installed capacity accounted for 7,752 MW. Under its National Renewable Energy Strategy, the government formulated plans to increase the share of renewable energy in the national energy mix to 42% by 2035.
- To achieve these goals, the government has also been regularly updating its solar energy policy to maximize the growth of the sector according to market conditions. Egyptian government agencies have also been actively involved in the adoption and commercialization of smaller solar PV systems for residential, commercial, and industrial customers.
- For small-scale consumers, Egypt's New and Renewable Energy Authority (NREA) has created the National Project Grid-Connected Small-Scale Photovoltaic Systems (Egypt-PV) to promote the design and implementation of small-scale solar systems with capacities less than 500 kW. The program consists of the creation of replicable models, providing technical and financial support for such projects, and supporting the development of the solar PV market in Egypt.
- The Global Environment Facility (GEF) is funding the Industrial Modernization Center's (IMC) implementation of the Egypt PV project in collaboration with the United Nations Development Program (UNDP). Overall, the project has provided technical and financial support for a total capacity of about 10 MW, with total investments amounting to EGP 140 million, of which EGP 19 million are non-refundable grants.
- These schemes and fundings are expected to attract several companies to invest in the Country's solar energy generation. Further, the government is collaborating with several renewable project developers to develop more greener projects. In March 2024, the government of Egypt collaborated with Smartenergy for the development of 2.6 GW of renewable energy capacity (wind and solar PV) to produce over 150,000 tons of green hydrogen annually through electrolysis in a 1 GW plant.
- A constant updating of market policies according to the market environment and supportive government policies and incentives for both small-scale and utility-scale solar project owners, such as the Egypt-PV program, are expected to provide a considerable impetus to the Egypt solar market during the forecast period.
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Egypt Solar Energy Industry Overview
The Egyptian solar energy market is semi-concentrated. Some of the key players in the market (in no particular order) are Canadian Solar Inc., JinkoSolar Holding Co., Ltd., Cairo Solar (Cairo Invest RE), Abu Dhabi Future Energy Company PJSC (Masdar), and ACWA Power Company SJSC.
Egypt Solar Energy Market Leaders
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Canadian Solar Inc.
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JinkoSolar Holding Co., Ltd.
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Cairo Solar (Cairo Invest RE)
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Abu Dhabi Future Energy Company PJSC (Masdar)
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ACWA Power Company SJSC
- *Disclaimer: Major Players sorted in no particular order
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Egypt Solar Energy Market News
- March 2025: Scatec ASA, inked a 25-year USD-denominated corporate Power Purchase Agreement (PPA) with Egypt Aluminium. The deal centers on a significant 1.1 GW Solar PV coupled with a 100 MW/200 BESS project in Egypt and comes with the backing of a sovereign guarantee. Egypt Aluminium stands as Egypt's foremost aluminum producer and a major consumer of industrial electricity. Notably, the company exports around 60% of its output to Europe. The newly signed solar PV and BESS project plays a pivotal role in Egypt Aluminium's strategy to decarbonize its aluminum production. Furthermore, it positions the company to align with the EU’s Carbon Border Adjustment Mechanism (CBAM) requirements set to roll out in 2026.
- March 2025: KarmSolar announced that it is set to expand the Farafra Solar Grid. This move comes through a strategic alliance with Daltex, renowned as the globe's leading potato exporter. As per the terms of the deal, KarmSolar will deliver 2 MVA of electricity to Daltex. Additionally, 3.17 MVA will be allocated to Al-Mazare' for Food Manufacturing and Cooling, and to Al Hoda for Land Rehabilitation and Cultivation. With this expansion, the grid's total contracted electricity capacity will surge to 8.37 MVA, effectively tripling its previous capacity.
Egypt Solar Energy Industry Segmentation
Solar energy is a renewable energy source derived from the sun's radiation. It encompasses various technologies, including photovoltaic cells and solar thermal systems, which convert sunlight into electricity or heat. Solar energy is abundant, sustainable, and environmentally friendly, offering a clean alternative to traditional fossil fuels for power generation and heating applications.
The Egyptian solar energy market is segmented by technology and deployment. By technology, the market is segmented into solar photovoltaic (PV) and concentrated solar photovoltaic (CSP). By deployment, the market is segmented into on-grid and off-grid. For each segment, market sizing and forecasts have been done based on installed capacity.
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Egypt Solar Energy Market Research FAQs
How big is the Egypt Solar Energy Market?
The Egypt Solar Energy Market size is expected to reach 2.81 gigawatt in 2025 and grow at a CAGR of 10.67% to reach 4.67 gigawatt by 2030.
What is the current Egypt Solar Energy Market size?
In 2025, the Egypt Solar Energy Market size is expected to reach 2.81 gigawatt.
Who are the key players in Egypt Solar Energy Market?
Canadian Solar Inc., JinkoSolar Holding Co., Ltd., Cairo Solar (Cairo Invest RE), Abu Dhabi Future Energy Company PJSC (Masdar) and ACWA Power Company SJSC are the major companies operating in the Egypt Solar Energy Market.
What years does this Egypt Solar Energy Market cover, and what was the market size in 2024?
In 2024, the Egypt Solar Energy Market size was estimated at 2.51 gigawatt. The report covers the Egypt Solar Energy Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Egypt Solar Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Egypt Solar Energy Industry Report
Statistics for the 2025 Egypt Solar Energy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Egypt Solar Energy analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
