Egypt's energy crisis forces increased interest in clean tech

Karim Mostafa, CEO of Gaia, was struggling to get anyone to listen to his solar energy solutions pitch a year ago.

The clean technology industry – including renewable energy and biofuels – has been slow to develop in Egypt primarily due to lack of awareness and a dearth of investment.

But as Egypt’s energy crisis deepened and the price of fuel soared, more startups have seen a growing need for alternative solutions to the country’s energy and agricultural woes. And a growing number of incubators, clients, and investors are becoming more receptive to these opportunities.

Since last year Gaia has secured five new solar projects, including British University in Egypt, PricewaterhouseCoopers and other private clients.

“Many people are changing their minds with the power outages and the increase of the price of diesel for generators,” Mostafa said. “They are becoming more familiar with solar energy.”

Egypt’s government is struggling to meet the country’s growing energy demands. In many neighborhoods of Cairo, daily electricity outages have become routine, forcing its residents to rely on candles or alternative fuel generators at night.