Market Trends of Egypt Wind Energy Industry
This section covers the major market trends shaping the Egypt Wind Energy Market according to our research experts:
Upcoming Wind Power Projects to Drive the Market
- Egypt wind energy is one of the prominent segments under the renewable sector that holds nearly 1375 MW of installed capacity as of 2019. With an increase in demand for cleaner energy, the segment is expected to grow further with the addition of new wind projects installations.
- As of 2018, around 11 wind projects were planned and are under the different stages of implementation. The total installed capacity of the projects is expected to exceed 4000 MW.
- A 2000 megawatts wind energy installation project by Siemens Gamesa, is one of the prominent under-development projects in Egypt, which is likely to get commissioned by 2023. The project is expected to be the largest wind energy project in the country.
- Thus, the completion of the aforementioned projects is expected to expand Egypt's wind energy installed capacity and is likely to increase its share in the renewable energy mix during the forecast period.
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Development in Fossil Fuel Power Projects is Likely to Restrain the Market Growth
- Egypt's power generation market highly relies on natural gas. As of 2018, the country generated 160.9 terawatt-hours of electricity from natural gas, which holds a share of around 80% of the total electricity generation.
- The country has domestic natural gas production of around 58.6 billion cubic meters (bcm) in 2018 and imported around 3.2 bcm of natural gas from various nations around the globe.
- The domestic gas produced and imported is largely used for electricity generation. The transition to move completely towards renewable electricity is on its marks but simultaneous development in natural gas projects is likely to hinder the market to a certain extent during the forecast period.
- Moreover, during 2018 the country holds nearly 75.5 trillion cubic meters of proven natural gas reserves. An increase in electricity demand is likely to utilize natural gas reserves for power generation in the near future.
