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Egypt - Oil drought sparks shift to renewables  EGYPT: Egypt,
like Morocco, stands to benefit from Desertec and its potential
revenue streams but, for the moment, the country is struggling
to meet its own rising domestic demand and curb its carbon
emissions.  The country is also mindful that its own oil and gas
reserves are running out - and that it is better to maximise
their value in the export markets. Egypt began diversifying into
renewables in the 1980s and has slowly built up 430MW of wind
power along the Suez coast. This was financed by mixing state
funds with foreign grants and loans. Recently, revenues from
CERs have also played a key role in ensuring projects are built.
Now the government is opening the market to private-sector
participation to speed up development. It is offering 2.5GW for
tender, with long-term power purchase agreements for successful
candidates. Private investors are also developing large-scale
projects. Italy's Ital