Egypt, which is an agrarian country, enjoys a high level of sunshine conducive to the development of solar power. Although low hydrocarbon prices were constraining the use of renewable energies, change is beginning to come due to the unprecedented energy crisis. Changes in government have revealed the risk deriving from massive energy subsidies and the exhaustion of oil re-serves. The upward revision of prices and the fall in imported volumes are creating shortages in some isolated areas.
GERES in Egypt
GERES is working in Egypt with FREEME project to establish a bridge between the energy and micro-finance sectors, promoting the funding of energy-efficient equipment and small entrepreneurs in the sector.
The political changes connected with the Arab Spring revealed the scale of the energy bill. This was followed by cuts to subsidies and a shortage of certain fuels. GERES activities over the last three years, aimed at use by households and small enterprises of efficient appliances powered from renewable sources, such as solar energy and crop residues, are thus especially well-timed