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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