Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
Samsung Galaxy S20+ vs Galaxy S10+ Which One to Buy? - 26th Feb 20
Gold Is Taking on $1,700 amid Rising Coronavirus Fears - 26th Feb 20
Is This What Falling Through the Floor Looks Like in Stocks? - 26th Feb 20
Gold Minsky Moment Coming - 26th Feb 20
Why Every Student Should Study Economics - 26th Feb 20
Stock Market Correction Over? - 26th Feb 20
US Bond Market Yield Curve Patterns – What To Expect In 2020 - 25th Feb 20
Has Stock Market Waterfall Event Started Or A Buying Opportunity? - 25th Feb 20
Coronavirus IN Sheffield! Royal Hallamshire Hospital treating 2 infected Patients, UK - 25th Feb 20
Dow Short-term Trend Analysis - Coronavirus Trigger a Stocks Bear Market? - 24th Feb 20
Sustained Silver Rally Coming? - 24th Feb 20
Should Investors Worry about Repo Market and Buy Gold? - 24th Feb 20
Are FANG Technology Stocks Setting Up For A Market Crash? - 24th Feb 20
Gold Above $1,600 Amid FOMC Minutes and Coronavirus Impact - 24th Feb 20
CoronaVirus Pandemic Day 76 Trend Forecast Update - Infected 540k, Minus China 1715, Deaths 4920 - 23rd Feb 20 -
Ways to Find Startup Capital - 23rd Feb 20
Stock Market Deviation from Overall Outlook for 2020 - 22nd Feb 20
The Shanghai Composite and Coronavirus: A Revealing Perspective - 22nd Feb 20
Baltic Dry, Copper, Oil, Tech and China Continue Call for Stock Market Crash Soon - 22nd Feb 20
Gold Warning – This is Not a Buying Opportunity - 22nd Feb 20
Is The Technology Sector FANG Stocks Setting Up For A Market Crash? - 22nd Feb 20
Coronavirus China Infection Statistics Analysis, Probability Forecasts 1/2 Million Infected - 21st Feb 20
Is Crude Oil Firmly on the Upswing Now? - 20th Feb 20
What Can Stop the Stocks Bull – Or At Least, Make It Pause? - 20th Feb 20
Trump and Economic News That Drive Gold, Not Just Coronavirus - 20th Feb 20
Coronavirus COVID19 UK Infection Prevention, Boosting Immune Systems, Birmingham, Sheffield - 20th Feb 20
Silver’s Valuable Insights Into the Upcoming PMs Rally - 20th Feb 20
Coronavirus Coming Storm Act Now to Protect Yourselves and Family to Survive COVID-19 Pandemic - 19th Feb 20
Future Silver Prices Will Shock People, and They’ll Kick Themselves for Not Buying Under $20… - 19th Feb 20
What Alexis Kennedy Learned from Launching Cultist Simulator - 19th Feb 20
Stock Market Potential Short-term top - 18th Feb 20
Coronavirus Fourth Turning - No One Gets Out Of Here Alive! - 18th Feb 20
The Stocks Hit Worst From the Coronavirus - 18th Feb 20
Tips on Pest Control: How to Prevent Pests and Rodents - 18th Feb 20
Buying a Custom Built Gaming PC From Overclockers.co.uk - 1. Delivery and Unboxing - 17th Feb 20
BAIDU (BIDU) Illustrates Why You Should NOT Invest in Chinese Stocks - 17th Feb 20
Financial Markets News Report: February 17, 2020 - February 21, 2020 - 17th Feb 20
NVIDIA (NVDA) GPU King For AI Mega-trend Tech Stocks Investing 2020 - 17th Feb 20
Stock Market Bubble - No One Gets Out Of Here Alive! - 17th Feb 20
British Pound GBP Trend Forecast 2020 - 16th Feb 20
SAMSUNG AI Mega-trend Tech Stocks Investing 2020 - 16th Feb 20
Ignore the Polls, the Markets Have Already Told You Who Wins in 2020 - 16th Feb 20
UK Coronavirus COVID-19 Pandemic WARNING! Sheffield, Manchester, Birmingham Outbreaks Probable - 16th Feb 20
iShares Nasdaq Biotechnology ETF IBB AI Mega-trend Tech Stocks Investing 2020 - 15th Feb 20
Gold Stocks Still Stalled - 15th Feb 20
Is The Technology Stocks Sector Setting Up For A Crash? - 15th Feb 20
UK Calm Before Corona Virus Storm - Infections Forecast into End March 2020 - 15th Feb 20

Market Oracle FREE Newsletter

Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Sunny Egypt Interested in... Wind Power

Commodities / Renewable Energy Nov 08, 2011 - 04:52 AM GMT

By: OilPrice_Com

Commodities Egypt currently has a total electricity capacity of about 23,500 megawatts, which the government hopes to increase to 58,000 megawatts by 2027.

A prime potential element in increasing this electrical output?


Renewables.

One might think, given Egypt's climate, solar?

Wrong again - wind power, which currently contributes less than 1 percent to Egypt's energy mix.

In 2003 Egypt had its wind potential assessed and published a wind atlas, which found that with wind speeds of 7-10 meters per second, almost the entire nation was ideal for wind power installations, with the country's best areas being along the Gulf of Suez coast. Two years later the atlas's coverage was expanded to mapping the country's wind potential in detail and determined that large desert regions both to the east and the west of the Nile River, as well as parts of Sinai, have average annual wind speeds of 7-8 meters per second.

Three years ago, the government of former President Hosni Mubarak approved a progressive and ambitious project by 2020 to produce 20 percent of its energy from renewables, with 12 percent being generated by wind power. Mubarak's cabinet approved incentives for wind power development, including exemption from customs duties and 20 to 25 year power purchase agreements with government guarantees, a policy that the country's new transitional government has endorsed.

According to the World Bank, if the policy comes to fruition, then Egypt will realize a 7,200 megawatt wind power capacity, cut vehicle emissions through improved public transportation, and make industry more energy efficient.

Jonathan Walters, transport and energy manager for the World Bank's Middle East and North Africa regions, said that "high and persistent" winds in the Gulf of Suez suggest Egypt has "excellent potential for wind power - among the best in the world."

The European Union's Clean Development Mechanism (CDM), which permits businesses and governments in industrialized nations to reduce their greenhouse gas emissions by investing in emission reduction projects in developing countries have already become involved in developing Egypt's nascent wind power industry.

CDM members Denmark, Spain and Germany collaborated on building Egypt's first wind farm, the 545 megawatt Zafarana wind facility, located 80 miles south of Suez on the Red Sea coast, which came online last year.

The Zafarana wind farm began construction in 2001. In 2010 120 megawatts of wind capacity were added to Zafarana in cooperation with the Danish International Development Agency (DANIDA), taking the facility's total installed capacity to 545 megawatts, allowing it last year to generate 1,147 gigawatt hours of electricity.

The European Investment Bank (EIB) is also involved in securing financing for Egyptian wind power projects.

Egypt's Minister of Electricity and Energy Hassan Younis is now seeking international funding to help underwrite the country's largest proposed wind facility of 120 megawatts, for which Egypt's private sector will underwrite 63 percent of the project, accordingly to a press release from Cairo's Egypt State Information Service. If all goes well, Younis said that the 120 megawatt facility is scheduled to become operational in 2013.

Bigger plans are afoot - according to Younis, the Ministry of Electricity and Energy has now issued new competitive bidding tenders for underwriting a project of establishing a 1,000 megawatt wind farm, scheduled for completion in 2015-2016, along with three other wind facilities. Under the terms of the government tender, investors will finance, build and operate the power facilities for a period of 20 to 25 years, selling the power generated by their wind farms to the state-owned Egyptian Electric Company at prices approved by the government.

The largest bottleneck thus far to expanding Egypt's wind power facilities is securing funding, but Cairo scored some successes even before the overthrow of the Mubarak regime. In mid-2010, the World Bank agreed to lend Cairo $220 million to build infrastructure that would connect wind farms to the national grid and to support some of the other wind farm projects planned in the country.

The Egyptian government is seeking to build production facilities to manufacture selective wind turbine components for the increasing demand of local and regional markets, initially focusing on producing turbine towers and blade facilities for the local market to supply a projected 400 megawatts of facility needs per year and then to export products to the emerging North African and Middle Eastern markets. NREA estimates that the blade manufacturing project requires an estimated investment of $59 million and the tower industry $147 million.

Ancient Egyptians worshiped the sun god Ra. If all goes to plan, then Ra might have to share his primacy with Qebui, god of the north wind and Maahes, the god of war and weather.

Source: http://oilprice.com/Alternative-Energy/Wind-Power/Sunny-Egypt-Interested-in-Wind-Power.html

This article was written by Dr. John CK Daly for Oilprice.com who offer detailed analysis on Crude Oil, Geopolitics, Gold and most other commodities. They also provide free political and economic intelligence to help investors gain a greater understanding of world events and the impact they have on certain regions and sectors. Visit: http://www.oilprice.com

© 2011 Copyright OilPrice.com- All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules