Egypt ranks 20th on Renewable Energy Country Attractiveness Index 2021

The US and China maintained their top rankings

  
Image used for illustrative purpose. Workers set up the photovoltaic panels at the Benban plant in Aswan, Egypt, November 17, 2019.

Image used for illustrative purpose. Workers set up the photovoltaic panels at the Benban plant in Aswan, Egypt, November 17, 2019.

REUTERS/Amr Abdallah Dalsh

ArabFinance: Egypt has advanced from 26th place, in 2020, to the 20th among the world’s top 40 markets in the Renewable Energy Country Attractiveness Index (RECAI) for 2021, according to a recent report.

The index issued by the London-based Ernst & Young Global Limited (EY).

The US and China maintained their top rankings, as East Asia emerges as a high potential investment destination for renewable energy businesses.

Under Egypt’s 2030 Vision, the country plans to increase the supply of electricity generated from renewable sources to 20% by 2022 and up to 42% by 2035, with wind providing 14%, hydropower 2%, photovoltaic (PV) 22%, and concentrated solar power (CSP) 3% by 2035.

The private sector is set to play a major role in delivering most of this capacity.

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