Identifier
Created
Classification
Origin
09CAIRO2124
2009-11-10 09:14:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Cairo
Cable title:
EGYPT: OPIC-SUPPORTED GLOBAL RENEWABLE ENERGY INVESTMENT
how-toVZCZCXYZ0000 PP RUEHWEB DE RUEHEG #2124 3140914 ZNR UUUUU ZZH P 100914Z NOV 09 FM AMEMBASSY CAIRO TO RUEHC/SECSTATE WASHDC PRIORITY 4176 INFO RUCPDOC/DEPT OF COMMERCE WASHDC RUEATRS/DEPT OF TREASURY WASHDC
UNCLAS CAIRO 002124
DEPT FOR NEA/ELA
STATE PASS TO OPIC - BARBARA BRERETON
SENSITIVE
SIPDIS
E.O. 12958: N/A
TAGS: EINV ENRG ECON EAID EG
SUBJECT: EGYPT: OPIC-SUPPORTED GLOBAL RENEWABLE ENERGY INVESTMENT
ASSESSMENT
REF: STATE 95170
Sensitive but Unclassified. Please handle accordingly.
UNCLAS CAIRO 002124
DEPT FOR NEA/ELA
STATE PASS TO OPIC - BARBARA BRERETON
SENSITIVE
SIPDIS
E.O. 12958: N/A
TAGS: EINV ENRG ECON EAID EG
SUBJECT: EGYPT: OPIC-SUPPORTED GLOBAL RENEWABLE ENERGY INVESTMENT
ASSESSMENT
REF: STATE 95170
Sensitive but Unclassified. Please handle accordingly.
1. (SBU) In response to reftel request for comments on the
OPIC-supported Global Renewable Energy Investment program, Post and
local contacts are not aware of any derogatory information with
respect to the prospective fund manager, US Renewables Group, LLC.
2. (SBU) Renewable energy currently forms a miniscule amount of
Egypt's total energy usage and the Egyptian government (GoE) has
made diversifying its energy sources a national priority. The GoE
has established a target that by 2020 20% of the country's
electricitys consumption will be met by renewable energy resources -
with wind forming the bulk of this goal. According to a 2008
Egyptian Competitiveness Report, the country's Suez Gulf Coast has
the potential to host 20,000 megawatts of wind farms. The GoE
receives funding for wind farm development from EU countries
(primarily Germany),Japan, as well as the World Bank. Despite these
efforts, a consultant to Prime Minister Nazif's Supreme Council on
Energy told us that there remains a strong need for increased
capital for new renewable energy projects in Egypt. Support for
renewable energy financing is consistent with U.S. interests in
Egypt and Post believes that OPIC's proposed investment would be
welcomed.
Scobey
DEPT FOR NEA/ELA
STATE PASS TO OPIC - BARBARA BRERETON
SENSITIVE
SIPDIS
E.O. 12958: N/A
TAGS: EINV ENRG ECON EAID EG
SUBJECT: EGYPT: OPIC-SUPPORTED GLOBAL RENEWABLE ENERGY INVESTMENT
ASSESSMENT
REF: STATE 95170
Sensitive but Unclassified. Please handle accordingly.
1. (SBU) In response to reftel request for comments on the
OPIC-supported Global Renewable Energy Investment program, Post and
local contacts are not aware of any derogatory information with
respect to the prospective fund manager, US Renewables Group, LLC.
2. (SBU) Renewable energy currently forms a miniscule amount of
Egypt's total energy usage and the Egyptian government (GoE) has
made diversifying its energy sources a national priority. The GoE
has established a target that by 2020 20% of the country's
electricitys consumption will be met by renewable energy resources -
with wind forming the bulk of this goal. According to a 2008
Egyptian Competitiveness Report, the country's Suez Gulf Coast has
the potential to host 20,000 megawatts of wind farms. The GoE
receives funding for wind farm development from EU countries
(primarily Germany),Japan, as well as the World Bank. Despite these
efforts, a consultant to Prime Minister Nazif's Supreme Council on
Energy told us that there remains a strong need for increased
capital for new renewable energy projects in Egypt. Support for
renewable energy financing is consistent with U.S. interests in
Egypt and Post believes that OPIC's proposed investment would be
welcomed.
Scobey