Renewable Energy Certificates (REC) in Egypt: RES4Africa Foundation and the EU funded project: ‘Support to the Technical & Financial Sustainability of Renewable Energy & Energy Efficiency Sectors’ hosts a virtual event
The webinar aimed at stimulating demand for REC among public and private stakeholders in the country
Rome/Cairo, 29th March 2021 – Today, RES4Africa Foundation held the webinar The role of Renewable Energy Certificates in pursuing energy sector decarbonisation in Egypt, in the framework of the EU-funded project “Support the technical and financial sustainability of the renewable energy and energy efficiency sectors in Egypt”. The virtual event introduced the concept of Renewable Energy Certificates (REC) to public and private stakeholders in Egypt and abroad, with the aim of stimulating demand for the RECs among local industry and society.
Personalities from the governmental electricity and gas regulatory authorities, El Sewedy Electric, FEDCOC, RECS International, Grexel and IREC took part in the event. Among others, interventions were made by Dr. Ahmed ElBeltagui (Energy & Transport Sector Manager, EU Delegation Egypt), Dr. Eng. Mohamed Moussa Omran (Executive Chairman of the Egyptian Electricity Regulatory Authority), Eng. Karim Mahmoud (CEO of Egyptian Gas Regulatory Authority), and Roberto Vigotti, RES4Africa Secretary General.
In 2016, Egypt adopted the Integrated Sustainable Energy Strategy, setting a target of 20% share of renewable energy in the electrical energy generation mix by 2022 and 42% by 2035. In preparatory to this transition Egypt has adopted a law in 2014, which includes a scheme for Guarantee of Origin certificates. These certificates are used as a settlement tool for the intended quota system for consumers. In case if the quota is exceeded, the guarantee of origin will be also used to prove this, such that the consumer can benefit from any soft incentives offered to consumers, whom are using renewable energy as source of their electricity supply.
Renewable Energy Certificates (RECs) appear therefore as an effective way to increase market demand for renewable energy, giving companies, institutions, and individuals a simple way to reduce the environmental impact of their business activities and disclose that they did so. However, the role and importance of RECs should be further promoted, in order to increase its adoption among private and public actors and, ultimately, to achieve the positive effects it brings about in terms of consumption of renewable energy.
“This typology of policy tools is becoming every day more crucial, as they encourage the energy transition by national big players” states Roberto Vigotti, RES4Africa Secretary General. “With the introduction of Renewable Energy Certificates, Egypt is pursuing a nation-wide shift towards renewables, thus demonstrating that African states can and must be the main actors of the energy market transformation we wish to see in the upcoming decades”.
“As a part of the energy transition of Egypt, where renewable energy will play an important role, it is important for Egypt to have a disclosure tool to proof that energy has been consumed from renewable energy source. This tool should be in compliance with the international best practices in this field such that, it can be internationally recognized. This shall promote both domestic use of renewable energy as well as its export, benefiting from Egypt richness in the renewable energy resources. Furthermore, this will enable Egypt to provide a leading example for other African countries on how Africa can promote and exploit its abended renewable energy resources” said Prof. Hafez El-Salmawy, Key-Expert of the EU project.