News Release from windfair.net
Wind Industry Profile of
MAKE: More Wind Energy in the Middle East and Africa
In 2014, new wind power capacity reached 1.13GW setting a record year with 120% growth YoY. South Africa and Morocco represented 86% of total new wind capacity in 2014 with 675MW and 301MW, respectively. Wind power capacity has grown significantly since 2011 with a CAGR of 183%.
In the short-to-medium term, new markets will emerge in West Africa (Ghana and Senegal) and also in West Africa (Tanzania). As in most of Africa, these countries need generation capacity and will leverage good wind resources to meet increasing power demand more economically than through investment in fossil fuel-based generation.
South Africa, which will commission more than 5GW of new capacity between 2015 and 2024, became the market leader in MEA in 2014. It is not expected to lose its position over forecast period due to expansion and simplification of the REIPPP program in mid-April 2015. In 2015, more than 1.3GW has been awarded and an additional 4.5GW is expected to be tendered and awarded over the next five years, restoring confidence within the wind industry.
Egypt catalyzed its renewable energy program in 2015 by tendering and awarding significant capacity. The government signed deal with Siemens to add 2GW of wind power capacity. These announcements sent a positive signal to the industry, restoring confidence in this challenging and irregular market. The country added 100MW in 2014. MAKE expects the country to add significant capacity from 2015 to 2024 with a CAGR of 23%.
Despite transmission challenges and both political and financial risks, wind power development in the Middle East and Africa is expected to grow significantly over the next 10 years. Growth will be driven by emerging markets aiming to diversify their generation mix and comply with renewable energy targets while overall electricity demand continues to increase exponentially.
MAKE’s Middle East and Africa Wind Power Outlook 2015 is a 50-page report containing more than 60 charts, tables and graphs providing analysis of wind markets in fourteen wind power markets. It includes 10-year market outlooks for South Africa, Egypt, Ethiopia and Morocco and 10 other smaller markets. Market models are illustrated, demonstrating the critical forces that are shaping demand for new wind power assets.
You can get the report on MAKE's homepage.
- Source:
- MAKE Consult
- Link:
- www.consultmake.com/...