Egyptian authorities are seeking to explore solar energy as a potential source of electricity on account of a surge in gas prices.
Reports indicate that a sharp decline in domestic gas production combined with growing consumption caught authorities off-guard last year and led to rampant blackouts over the sweltering summer.
Head of energy in Egypt for multilateral lender the European Bank for Reconstruction and Development (EBRD), Ahmed Mortada in an engagement with reporters explained that the declining availability of gas- liquefied natural gas (LNG) specifically stands as a ‘big wake up call’. He explained that deliberations with authorities are underway for the new package which involves the exploitation of solar energy.
Moreover, analysts show that the importation of LNG into Egypt demanded a huge sum of money to the tune of over $1 billion more than it had expected and is likely to spend more in 2025.
Hussain Al Nowais, Chairman of United Arab Emirates-based renewables energy producer AMEA Power, told reporters in weeks past that Egypt should make good use of the resources it has as sufficient elements for a huge expansion in solar power generation. “God has blessed Egypt with really good solar resources, and very good land resources,”
Solar companies say they can supply electricity much cheaper than that generated by gas turbines, using inexpensive panels from China, but complain that market-distorting power subsidies and restrictive regulations have frustrated rollouts.
