8 Renewable Energy Development in Egypt and Transitioning …
271
8.3 Legal Measures and Policies in Place
that Address the Promotion
and Management of Renewable Forms
of Energy and Energy Efficiency
The Egyptian Government adopted several measures in order to promote
the development of renewable energy in the country. This can be
discerned from the policies and the regulatory structures that promote
renewable energy projects in Egypt.
Egypt’s economic development hinges on the energy sector, which
represents 13.1% of overall gross domestic product. To meet burgeoning
energy demand, the Egyptian Government has pursued an energy diversification strategy to ensure the continuous security and stability of the
country’s energy supply. This strategy involves stepping up the development of renewable energy and energy efficiency, in part through vigorous
rehabilitation and maintenance programs in the power sector. Egypt is,
therefore, committed to the widespread deployment of renewable energy
technologies.
9
Apart from that, a string of regulatory reforms came into existence
in the last few years aiming at promoting the exploitation of the high
potential of renewable energy resources and attracting more investment
in that field.
The regulatory framework of renewable energy projects includes a
string of measures aiming at the deployment of renewable energy projects
and granting various incentives for private investors seeking for pumping
investments in such projects. This can be shown apparently in the
Egyptian constitution and other parliamentary legislation relating to
renewable energy projects in the country. In 2014 a new piece of legislation was issued in Egypt pertaining to the promotion of electricity
production from renewable energy Resources (Renewable Energy Law
‘the REL’). Such law was issued by virtue of presidential decree no. 203
of 2014 and published in the official gazette on December 21, 2014.
9 “Renewable Energy Outlook Egypt”, IRENA and NREA, 2018, Executive Summary.
271
8.3 Legal Measures and Policies in Place
that Address the Promotion
and Management of Renewable Forms
of Energy and Energy Efficiency
The Egyptian Government adopted several measures in order to promote
the development of renewable energy in the country. This can be
discerned from the policies and the regulatory structures that promote
renewable energy projects in Egypt.
Egypt’s economic development hinges on the energy sector, which
represents 13.1% of overall gross domestic product. To meet burgeoning
energy demand, the Egyptian Government has pursued an energy diversification strategy to ensure the continuous security and stability of the
country’s energy supply. This strategy involves stepping up the development of renewable energy and energy efficiency, in part through vigorous
rehabilitation and maintenance programs in the power sector. Egypt is,
therefore, committed to the widespread deployment of renewable energy
technologies.
9
Apart from that, a string of regulatory reforms came into existence
in the last few years aiming at promoting the exploitation of the high
potential of renewable energy resources and attracting more investment
in that field.
The regulatory framework of renewable energy projects includes a
string of measures aiming at the deployment of renewable energy projects
and granting various incentives for private investors seeking for pumping
investments in such projects. This can be shown apparently in the
Egyptian constitution and other parliamentary legislation relating to
renewable energy projects in the country. In 2014 a new piece of legislation was issued in Egypt pertaining to the promotion of electricity
production from renewable energy Resources (Renewable Energy Law
‘the REL’). Such law was issued by virtue of presidential decree no. 203
of 2014 and published in the official gazette on December 21, 2014.
9 “Renewable Energy Outlook Egypt”, IRENA and NREA, 2018, Executive Summary.