Egypt Wind Power Market

Wind power is defined as a process by which the wind is used to generate mechanical power or electricity. The wind turbines help in converting the kinetic energy present in the wind into mechanical power. This mechanical power is then used for specific tasks such as grinding grain or pumping water or is converted into electricity by a generator. Wind farms have several individual wind turbines that are connected to the electric power transmission network.

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The significant factors responsible for the growth of the Egypt wind power market include the rising emphasis of the government to have a low-cost, sustainable, and cleaner form of energy and the increasing focus on decreasing the carbon emission in the country. Egypt wind energy has various under construction and planned wind energy projects, will further surge the demand of the market in the coming years. Due to the geographic location of Egypt, it enjoys an excellent wind regime, especially in the Suez Gulf, where the average wind speed reaches over 10m/second. In 2019, the government of Egypt announced 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, focus on the importance of renewable energy. The government intends to surge the supply of electricity generated from renewable sources to 20% by 2022 and 42% by 2035. In addition to this, in 2020, the Minister of Electricity and Renewable Energy, Mohamed Shaker, announced to construct 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 focusing on constructing four wind power plants with a total installed capacity of 2,610 MW by the end of 2023. These projects are being developed 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. All these upcoming projects will surge the demand for wind power market in Egypt over the next six years. On the other edge of the spectrum, the availability of fossil fuels and the constant growth in renewable energy sources are the two major factors that are likely to hamper the growth of the market in the coming years.

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Based on the location, the onshore segment is projected to grow at a higher CAGR during the forecast period. This is mainly due to the growing preference for onshore wind power as compared to other renewable sources of energy, as it is highly cost-effective as compared to the offshore wind power. Moreover, the easy installation process and the reduction in greenhouse gases (GHG) are some other factors that are further energizing the growth of the segment.

On the basis of application, the utility segment is anticipated to dominate the market over the forecast period. The increasing utility-scale application in the wind turbines, particularly in the large, multi-turbine wind farms which are connected to the nation’s transmission system, is one of the biggest factors that is surging the growth of the segment in the coming years. The ease of barriers for the installation of utility-scale projects is further encouraging the end-users to opt for the utility scale segment in the market.

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Key Developments:

• • In 2019, Siemens Gamesa announced to start the operation of the largest wind farm build in Egypt, the 262.5 MW Ras Ghareb project, situated on the Gulf of Suez, close to Ras Ghareb town.

The Egypt Wind Power Market segmented into Location, Application. Based on Location, the market is segmented into Onshore, Offshore. Based on Application, the market is segmented into Utility, Non-Utility.

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Key questions answered in this research report:

• • At what pace is Egypt Wind Power Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Egypt Wind Power Market? What will be the impact of market drivers and market restraints in the future?
  • Which type generated maximum revenues in 2019 and identify the most promising types during the forecast period?
  • What are the various application areas of Egypt Wind Power Market and how they are poised to grow?
  • What companies are the major participants in Egypt Wind Power Market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Egypt Wind Power Market by Location

• • Onshore
  • Offshore

Egypt Wind Power Market by Application

• • Utility
  • Non-Utility