Egypt about to invest in Wind Power

While many would agree with the idea of Egypt being perfect for solar power, the nation has set its goals on wind power to produce the majority of the 20% renewable energy they want to produce by 2020. Currently, wind energy generates less than 1 percent of Egypt’s energy mix. However, the government wants to change that because it also has plans to increase its total electricity capacity from 23,5 GW to 58 GW by 2027.

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 renewable energy, 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.

Via: Investor Ideas, Image: Sun and ski homes