The Egyptian Electric Utility and Consumer Protection Regulatory Agency (EgyptERA) is working on defining a new regulatory framework for renewable energy projects in the coming period.
Chairperson of EgyptERA Mohamed Abdel Rahman told Daily News Egypt that they consider defining a new regulatory framework for all aspects of renewables in the country to maximise their benefits in parallel with the state plan to expand in such energy projects.
“We seek to provide more advanced mechanism based on modern technology in renewable energy projects in conjunction with lower equipment prices,” he said, noting that EgyptERA is responsible for monitoring all power production and distribution companies as well as consumers. “We are always looking for the appropriate procedure for all parties,” he stressed.
Mohamed Al-Khayyat, executive chairperson of the New and Renewable Energy Authority (NREA), said the total investment in renewable energy projects in Egypt amounted to $4bn in the past period.
Al-Khayyat said during a conference organised by the Egyptian Canadian Business Council, on Tuesday, that the total volume of energy generated in Egypt from renewable resources reached 3GW.
Egypt seeks to increase partnership with the private sector in the field of renewable energy, to raise its contribution to 20% of the total energy generation in Egypt, and to double that percentage to 40% by 2035.
For this purpose, the state allocated about 7,600 sqkm for solar and wind projects, including 1,200 sqkm in the Red Sea, in addition to 6,000 sqm in the east and west of the Nile, and about 37 sqm in the Benban Solar Park in Aswan.