Egypt Seeks Support for More Wind Energy

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Researched by Industrial Info Resources (Sugar Land, Texas)--Egypt is inviting foreign utility firms and sovereign wealth funds to invest in its onshore and offshore wind capacity. The Middle Eastern nation plans to raise the share of renewable sources in its energy mix from less than 1%, where it stands now, to 42% by 2035.

Egypt is believed to have some of the strongest offshore-wind potential in the world. It has signed memoranda of understanding (MOUs) with ACWA Power (Riyadh, Saudi Arabia) to build an 11-gigawatt (GW) windfarm for Egypt's state-owned electricity firm. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can learn more from a detailed project report.

Oman Investment Authority (OIA) (Muscat), which is the sovereign fund of the Sultanate of Oman, also has announced it will be studying new opportunities to invest in Egypt.

Industrial Info is tracking 31 GW of wind-energy projects, totaling more than US$38 billion in value, across Egypt. Subscribers can click here for a list of detailed project reports, and can click here for a list of related plant profiles.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).