CAIRO - 27 February 2022: Egypt has achieved a great leap in the field of renewable energy under the leadership of President Abdel Fattah El-Sisi, CEO of Siemens Gamesa Egypt, a subsidiary of the German Siemens Group, Ayman Saad, stated.
Saad considered that the ambitious strategy to increase the supply of electricity generated from renewable energy sources to 42 percent by 2035 will put Egypt in a leading position regionally and globally, and that Egypt's choice to host the COP27 climate conference will enhance its leading position in the field of renewable energy in the region.
He said that Egypt is a leading country in the Middle East and North Africa region in how to successfully integrate renewable energy into the energy mix used in the country, especially with the abundance of land, sun and high-speed wind, which makes it a unique and key location for renewable energy projects.
“Egypt has distinguished wind systems, especially in the Gulf of Suez region, where the average wind speed reaches 10.5 meters per second, in addition to other wind sites in large areas on the banks of the Nile, in the eastern and western deserts and parts of Sinai, which made Egypt target 14 percent of its energy is from wind, and the private sector will have a major role in providing most of this capacity,” Saad added.
He explained that Egypt's launch of the integrated strategy for sustainable energy, which aims to raise the contribution of renewable energy to 42% of electric energy by 2035, reflects Egypt's great ambition and qualifies it to become a regional source of energy, including renewable energy.
It also contributes to diversifying the energy sources on which the development process in Egypt depends, and supporting the country to adopt green economic growth, according to Saad.
CEO of Siemens Gamesa Egypt warned that Egypt's diversity of renewable energy resources does not exist in any country in the world, especially wind, which made it a target for many countries to benefit and cooperate with Egypt in this field.
He pointed out that many countries of the world seek to increase reliance on renewable energy due to its low cost compared to other sources of electricity. It is estimated that replacing coal-fired electric power plants with solar and wind energy would reduce annual system costs by $32 billion annually, and to reduce annual carbon dioxide emissions by about 3 gigatonnes of carbon dioxide.
He stressed that with the official and unofficial global trend towards a green economy and the call for a less polluted world, wind energy is the first resort for this trend, and the World Wind Energy Council reported in 2021 that the global wind energy market has nearly doubled in size 4 times over the past decade. This confirms that wind has proven itself as one of the most cost-competitive and resilient energy sources worldwide.
Saad indicated that the renewable energy generation capacity in the world between 2000 and 2020, increased from 754 gigawatts to 2799 gigawatts, and technological development led to a significant decrease in costs as the weighted global average cost of electricity (LCOE) decreased in 2020 (compared to 2019), by 13 percent for onshore wind, 9 percent for offshore wind, and 7% for solar photovoltaic.