The market prospect of Egyptian PV industry is promising
The market prospect of Egyptian PV industry is promising
In DanielCalderon's view, the rapid growth of Egypt's PV industry shows that the country is exploring a diversified energy supply model and has opened the door to global investors.
"Since the beginning of this year, despite the emergence of COVID-19, the photovoltaic industry in Egypt has certainly posed challenges in the short term." "But there is no denying that Egypt is still an impressive emerging market for renewable energy. In fact, globally, the Middle East, Turkey and Africa all have significant growth potential for renewable energy. Renewable electricity capacity in these regions is expected to grow by 31 percent annually through 2035. This means 22.4 gigawatts of new renewable energy capacity will be installed in the region over the next 10 years, attracting more than $250 billion in investment."
Chint New Energy said that as the Egyptian PV market continues to mature and relevant mechanisms such as long-term power purchase agreements are gradually improved, it is expected that more feasible business models will emerge in the Egyptian PV market and the competitiveness of photovoltaic power will continue to improve.
"With the increasing emphasis on renewable energy development in Egypt, the Egyptian PV market is showing strong vitality. We hope to continue to participate in the future to help build Egypt's power infrastructure and facilitate its economic transformation and recovery." Chint new energy said the above person in charge.(News from PV-Tech)
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