Massive potential for renewable sources of energy in Egypt

Mr Gianpiero Coppola the Middle East Vice President of Avelar Energy has said that there is massive potential for generation of solar and wind power in Egypt. He urged the government to promote private investment in the renewable energy sector by use of tax credits and other attractive incentives.

The Middle East Vice President of Avelar Energy said that covering a relatively tiny part of Egyptian territory with solar power collectors such as photo voltaic cells would generate power that would meet the needs of the whole of Europe. Mr. Gianpiero Coppola however warned that the only setback would be that the costs for setting up such a plant would be very high.

Mr Gianpiero Coppola disclosed that his company would concentrated on generating wind power in Egypt initially since it is less expensive and the technology in use is much more advanced than for solar energy. He however still maintained that there was a higher potential in solar energy than in wind energy though the costs were quite high. On that aspect Mr Gianpiero Coppola revealed that they were holding consultations with authorities to try and come up with ways of raising the feasibility and profitability of such ventures.

The interest in Egypt for renewable fuels has been ongoing for the last two decades. For instance in 1986, the ministry of electricity and energy started the New and Renewable Energy Authority for the benefit of the sector though progress has been slow and poor. In 2007, New and Renewable Energy Authority set a target of ensuring that three per cent of Egypt’s energy comes from renewable sources by 2010.

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