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The African Development Bank has released a report titled "Clean Energy Development in Egypt." The report reviews the opportunities and challenges to improving energy efficiency, developing renewable energy resources and promoting the local manufacture of these products in Egypt.
According to the report, there are four pre-requisites for successful development of clean energy: clear strategy; a proper institutional framework; a well-designed incentive system; and a suitable set of financing instruments. The report highlights key challenges to the development of clean energy in Egypt as: lack of institutional and legal constraints; the lack of available data and information; capacity constraints and financial constraints.
The report underscores the necessity for: long-term political commitment; a specialized institutional set up; the creation of incentives including appropriate energy pricing schemes; mobilization of sustained financial resources; monitoring and measurement of the results; and effective communication with the public. The report makes specific recommendations in relation to strengthening existing institutions, and establishing an energy efficiency fund.
Additional information: Full report
News date: 03/05/2012