Expected ROI of Solar Inverter project in Egypt 2030

Is solar energy a viable option in Egypt?

Egypt has a solar energy potential of 74 billion MWh per year, according to the Global Solar Atlas . Solar energy projects have long been noted to be economically viable. The predicted figure is significantly more than Egypt’s current electricity production , , .

Why should Egypt invest in a solar power Park?

The solar power park generates 1,500 megawatts of energy, which enhances Egypt’s sustainable energy strategy, supports the use of clean energy, reduces climate change, and reflects the government’s strong commitment to the transition towards a green economy.

What are the major solar power projects in Egypt?

Solar power projects in Egypt. Table 1 summarizes the three major solar power projects in Egypt, which are the Beneban Solar Park, the Siwa Solar Plant, and the Kuraymat Concentrated Solar Power (CSP) plant.

Will EGP 2 trillion be needed in Egypt's energy sector?

The International Finance Corporation (IFC) believes that EGP 2 Trillion are required to brought into Egypt’s energy sector in climate-smart investments by 2030. Egypt is expected to overtake South Africa in the next decade to become the largest electricity market in Africa.

How much FDI is needed in Egypt's energy sector?

FDI is concentrated in the oil and gas industry (around three-quarters of total investments), followed by real estate, manufacturing, financial services and construction. The International Finance Corporation (IFC) believes that EGP 2 Trillion are required to brought into Egypt’s energy sector in climate-smart investments by 2030.

How much solar radiation does Egypt receive a year?

Egypt enjoys an abundance of solar radiation. According to the solar atlas, Egypt receives an average of 3,050 h of sunlight per year, having direct normal irradiations fluctuating from 1970 to 3200 kWh/m2 yearly and annualized total solar irradiance ranging from 2000 to 3200 kWh/m2.