| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Volume (2025) | 14.26 gigawatt |
| Market Volume (2030) | 20.76 gigawatt |
| CAGR | 7.80 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Egypt Renewable Energy Market Analysis
The Egypt Renewable Energy Market size is estimated at 14.26 gigawatt in 2025, and is expected to reach 20.76 gigawatt by 2030, at a CAGR of 7.8% during the forecast period (2025-2030).
- In the medium period, factors such as supportive government regulations and increasing demand for solar energy are expected to drive the Egyptian renewable energy market during the study period.
- The slow pace of energy infrastructure development, restricted land, and limited power capacity by variable renewable energy sources are expected to hinder the market's growth during the study period.
- Nevertheless, the ambitious renewable energy targets are likely to create immense opportunities for the Egyptian renewable energy market during the forecast period.
Egypt Renewable Energy Market Trends
The Solar Segment is Expected to Witness Significant Growth
- Egypt has a high potential for electricity generation through solar PV plants across the country. It is considered a sunbelt country with 2,000 to 3,000 kWh/m2/year of direct solar radiation. The county's sunshine stands about 9-11 hours a day from north to south, with few cloudy days.
- According to the International Renewable Energy Agency, in 2023, Egypt's total solar energy installed capacity accounted for 1,836 MW, an annual growth rate of 7.74% compared to the previous year. Thus, solar energy holds a significant share of the renewable energy market. The country is working toward the 2035 Integrated Sustainable Energy Strategy, i.e., to install 31,000 MW of solar power by 2035.
- Egypt has set plans to increase the supply of electricity generated from solar photovoltaic (PV) by 22% and concentrate solar power (CSP) by 3% by 2035. The private sector is expected to deliver most of this capacity during the forecast period.
- Additionally, the opening of the Benban Solar Park project with a capacity of 1,465 MW and investments from international companies like Siemens Gamesa and Toyota Tsusho have helped bring down the cost of renewables in Egypt, significantly creating a more developing and competitive market.
- Moreover, in April 2024, Egypt announced plans for two solar power stations worth USD 20.60 million, financed by the European Union. The projects, located at the Assiut Oil Refining Company and the Egyptian General Petroleum Corporation (EGPC), aim to generate 10 MW and 6.5 MW of power.
- With upcoming projects and large-scale investments in solar energy under various policies and strategies, the solar energy segment's share in Egypt is expected to witness significant growth during the forecast period.
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Supportive Government Regulations are Expected to Drive the Market
- Egypt has been one of the fastest-growing African countries to install solar and wind energy since 2017, and as of 2023, the total renewable energy installed capacity was approximately 6.3 GW. The government has a vast array of renewable energy projects in the pipeline that are expected to make Egypt overtake South Africa and become the largest renewable energy market in Africa. The government of Egypt has been a critical enabler for the sector’s growth, and it is likely to play a similar role during the forecast period.
- The government has formulated plans under its National Renewable Energy Strategy to increase the share of renewable energy in the national energy mix to 20% by 2022 and double it to 42% by 2035. These ambitious targets are expected to be achieved with a set of policies and mechanisms such as the EPC scheme, Build-own-operate (BOO), and feed-in-tariff (FiT), which would promulgate the participation of private investors and attract foreign direct investment (FDI) in the market.
- The Ministry of Electric and Renewable Energy has laid out several regulations for the diversification of the energy mix and prioritizes the implementation of renewable energy projects to generate electricity. The government has shifted from a competitive bidding process to an auction-based process for large-scale solar PV and wind projects, which is expected to drive the market during the forecast period.
- The Egyptian-German Joint Committee on Renewable Energy, Energy Efficiency, and Environmental Protection (JCEE) is a joint committee that enables sustainable electricity production and consumption in Egypt by supporting measures in renewable energy and improving energy efficiency and climate change mitigation.
- In January 2024, the Government of Egypt announced its commitment to increasing renewable energy production and opened avenues for investment, particularly in solar and wind energy. The Egyptian government has introduced various incentives under these laws to encourage investment in the renewable energy sector. These include tax breaks, custom duty exemptions, and other financial incentives designed to make renewable energy projects more viable and attractive to investors.
- The Egyptian government's bold steps and visionary policies are expected to drive Egypt toward renewables, making it possible to achieve the renewable goal of 2035.
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Egypt Renewable Energy Industry Overview
The Egyptian renewable energy market is moderately fragmented. Some of the key players in this market are Vestas Wind Systems AS, Siemens Gamesa Renewable Energy SA, Scatec Solar ASA, SkyPower Ltd, and New & Renewable Energy Authority.
Egypt Renewable Energy Market Leaders
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Vestas Wind Systems A/S
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Scatec Solar ASA
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SkyPower Ltd
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New & Renewable Energy Authority
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Siemens Gamesa Renewable Energy, S.A.,
- *Disclaimer: Major Players sorted in no particular order
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Egypt Renewable Energy Market News
- March 2024: AMEA Power, a Dubai-based renewables developer, announced that it is progressing with its 500-MW Abydos solar project in Egypt. The project is located in Kom Ombo, Aswan governorate, and has power purchase agreements in place with the Egyptian Electricity Transmission Company (EETC).
- June 2023: A group of companies, including Abu Dhabi’s Masdar, signed an agreement with Egypt’s New and Renewable Energy Authority. The agreement is to secure land for a USD 10 billion wind farm. The farm will have a capacity of 10 GW and will produce 47,790 GW hours of clean energy annually.
Egypt Renewable Energy Industry Segmentation
Renewable energy is the energy collected from renewable resources such as sunlight, wind, water movement, and geothermal heat that are naturally replenished.
The Egyptian renewable energy market is segmented by type. By type, the market is segmented into hydropower, solar, wind, and other types. For each segment, the market sizing and forecasts were made based on installed capacity (GW).
| Type | Hydro Power |
| Solar | |
| Wind | |
| Other Types |
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Egypt Renewable Energy Market Research Faqs
How big is the Egypt Renewable Energy Market?
The Egypt Renewable Energy Market size is expected to reach 14.26 gigawatt in 2025 and grow at a CAGR of 7.80% to reach 20.76 gigawatt by 2030.
What is the current Egypt Renewable Energy Market size?
In 2025, the Egypt Renewable Energy Market size is expected to reach 14.26 gigawatt.
Who are the key players in Egypt Renewable Energy Market?
Vestas Wind Systems A/S, Scatec Solar ASA, SkyPower Ltd, New & Renewable Energy Authority and Siemens Gamesa Renewable Energy, S.A., are the major companies operating in the Egypt Renewable Energy Market.
What years does this Egypt Renewable Energy Market cover, and what was the market size in 2024?
In 2024, the Egypt Renewable Energy Market size was estimated at 13.15 gigawatt. The report covers the Egypt Renewable Energy Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Egypt Renewable Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Egypt Renewable Energy Industry Report
The Egypt Renewable Energy Market is experiencing significant growth, driven by the government's strong commitment to renewable energy and the country's abundant solar resources. Favorable government policies, such as feed-in tariffs, net metering schemes, and tax incentives, have been pivotal in promoting solar energy adoption. The declining costs of solar panels have also made solar energy more accessible and attractive to both residential and commercial consumers. Egypt's strategic location in the sunbelt region, with high solar irradiation levels, further enhances its potential for solar energy generation. Opportunities abound in large-scale solar projects, solar-powered desalination, and rural electrification. The market is characterized by dynamic factors including government policies, technological advancements, economic considerations, and increasing competition among renewable energy companies in Egypt. The future outlook for the solar energy market in Egypt is promising, with continued investments, capacity additions, and project developments expected to drive growth and help achieve the country's renewable energy targets. Statistics for the Renewable Energy Sources in Egypt market share, size, and revenue growth rate, created by Mordor Intelligence™ Industry Reports, provide a comprehensive analysis. The Renewable Energy Sources in Egypt analysis includes a market forecast outlook and historical overview. Get a sample of this industry analysis as a free report PDF download.
