Egypt Renewables Q1 2019
We have revised up our forecasts this quarter and now expect renewable power generation to rise at an average rate of29.4% per annum, taking output from the sub-sector to 18.8TWh in 2027, compared to our previous forecast of 18.3TWh. There willbe a particularly big jump in renewables generation in 2018, of 112.8% y-o-y, taking output to 3.77TWh, and a further substantialincrease in 2019 (44.6%) to 5.45TWh, according to our core scenario. An improving outlook for public finances - albeit from a lowbase - translates into greater room for fiscal manoeuvre in terms of realising ambitious renewables projects. However, despite ourrepeated upwards revisions to our forecasts, we remain less upbeat than Egypt's government, largely due to ongoing fiscalconstraints.
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