Description/achievement of initiative
With Egypt's plans for renewable energy becoming more vigorous, Egyptian government has introduced its Long-Term Plan for Wind Energy policy to achieve a sustainable energy transition.
Source: UNEP (2011) Green Economy . Advisory Services.
Achieving a sustainable energy transition is one of the major challenges but also represents opportunities for Egypt. The Egyptian Supreme Council of Energy approved the "Long-Term Plan for Wind Energy" and fixed a target to meet 20% of electricity needs with renewable energy by 2020, with 12 per cent coming from wind energy. In 2009, Egypt attracted US$490 million of investment in a 200MW wind project in the Gulf of El Zayt, accounting for nearly half of total investment in clean energies in Africa for that year. To promote more investments, the Ministry of Electricity and Energy is planning to introduce a tax break and feed-in tariffs that will encourage the development of renewable energy projects, while a New and Reliable Energy Authority (NREA) was set up to foster growth in this sector. A target of 3500 MW installed capacity has been set for 2025.
Arrangements for Capacity-Building and Technology Transfer
Coordination mechanisms/governance structure