- North Africa takes more interest in renewable energy
- Egypt and Morroco aims for a 52% renewable energy goal by 2040
Volatile fossil-fuel-based energy prices have given governments in North Africa a stronger appetite for renewable energy, a webinar on solar prospects in the region has heard.
Ashraf Kraidy, director for planning and technical projects at the Regional Center for Renewable Energy and Energy Efficiency, told in a recent online event, “If we look at the energy market worldwide, we can see how oil and gas prices are fluctuating and going up. This gives investment opportunities for renewable energy. Renewable investments have stable prices in terms of electricity production”.
Kraidy, representing the not-for-profit organisation set up in 2008 to promote clean energy and energy efficiency across the Arab world, pointed to recent climate change goals set by the governments of Egypt and Morocco, with the former aiming for 42% of its power to come from renewables by 2035 and the last 52% by 2040.