Egypt Renewable Energy Industry Market Report - Sector Overview
- The Trade Adviser
- Jun 19, 2024
- 1 min read
Updated: Jun 14
The renewable energy sector in Egypt is rapidly growing and is becoming a cornerstone of the country's strategy to diversify its energy mix and enhance sustainability. As of 2023, the renewable energy sector in Egypt is valued at approximately USD 6 billion, with wind, solar, and hydroelectric power being the primary components (source: Egyptian Ministry of Electricity and Renewable Energy).
The sector has seen an impressive annual growth rate of 15% over the past five years, driven by government initiatives, international investments, and technological advancements. Egypt's GDP stood at USD 403 billion in 2022, with the renewable energy sector accounting for about 1.5% of the total (source: World Bank). The future growth potential of the sector is substantial, with projections indicating that the market could reach USD 12 billion by 2030, supported by ongoing investments and favorable policies.
