The Renewable Energy Authority has released its eleventh quarterly publication (NREAmeter), which includes monitoring of renewable energy operations in the third quarter of the fiscal year 2021/2022, as well as activity in the areas of hydro, solar, wind, and biomass.
Egypt’s renewable energy sector has seen a number of triumphs, including the signing of many memorandums of understanding for the production of green hydrogen from renewable energy projects, million tons, demonstrating Egypt’s competitiveness in this industry and its wealth of natural resources, including various wind speeds and rates of solar radiation brightness, as well as 3,000 kilometers of shoreline on the Red and Mediterranean Seas, as well as modern infrastructure.
In addition, the New and Renewable Energy Authority is approaching the completion of the construction of a 50 MW solar cell factory. The Zafarana region, with a total investment of almost 700 million pounds, is set to open in the third quarter of this year.
This is in addition to the installation of a 250-megawatt wind power project in the Gulf of Suez region, which is set to become live in the second half of 2023.
Additionally, the authority has sold almost 2.5 million carbon certificates, indicating substantial progress in Egypt’s clean energy investment.
In addition, the bulletin stated that hydroelectric energy production reached about 2,654 gigawatt-hours in the third quarter of the fiscal year 2021/2022, while wind energy projects produced about 1133 gigawatt-hours, and energy produced from grid-connected solar cells produced about 949 gigawatt-hours, with about 22 GWh generated from biofuel projects.
During the same time period, this contributed to a reduction in carbon dioxide emissions of approximately 2,256 thousand tons and fuel savings of approximately 881 thousand tons of oil equivalent, highlighting the important role of renewable energy in combating climate change, which will be discussed in the twenty-seventh Conference of the Parties (COP27) in Sharm El Sheikh next November.
The capacities of the projects under development have increased dramatically, reaching 3,570 megawatts, with foreign direct investments of nearly $3.5 billion, more than double their 2020 counterpart, demonstrating the critical role that the private sector plays in achieving the goals of the National Renewable Energy Strategy. Wind energy projects in the Gulf of Suez region on the Red Sea coast with strong wind speeds account for 78 percent of these, while solar energy accounts for 22 percent.
On the other hand, during the same time period, many renewable energy tasks were imported, particularly the requirements of the wind power station in the Gulf of Suez and solar cells, where 24 batteries and 2008 changers were imported, indicating that these projects are increasingly playing a role in meeting part of the demand for electrical energy.
