2018-08-19
http://w3.windfair.net/wind-energy/pr/29011-africa-make-consulting-renewable-energy-energy-market-demand-electricity

News Release from MAKE Consulting

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Wind Industry Profile of


African markets are expected to add 30GW of wind power capacity from 2018 to 2027

South Africa, Egypt and Morocco expected to maintain their regional leadership status as Ethiopia, Kenya and Tunisia become fast-growing wind power markets

Image: NASAImage: NASA

Increasing demand for electricity, decreasing costs for wind power and an expanding track record of project execution strengthens the position of wind power in key markets in Africa. These factors catalyse growth in a region that reached about 5GW of cumulative capacity at the end of 2017. Development in Africa will result in an expected compounded annual growth rate of 19.8% from 2018 to 2027, with a varied scale and pace of wind market growth across the region.

South Africa, Egypt, and Morocco are leaders in Africa’s wind power market and represent more than 85% of the continent’s installed wind capacity. Approximately two thirds of capacity added in Africa through 2027 will be in these markets.

The new government in South Africa signed long-awaited PPAs in the first half of this year and announced a new bidding round in Q4/2018, both of which have helped end a period of uncertainty. In Egypt, developers are demonstrating an ability to drive down cost, which will make wind the most inexpensive source of power generation in the country upon realisation. Despite some delays in project execution, Morocco will remain on track to achieve its 5GW wind capacity target by 2030.

Other notable markets include Ethiopia, Kenya and Tunisia. These markets have been striving to translate their ambitious wind power capacity targets into actual market development due partly to imperfect regulatory frameworks. Tunisia, for example, has started working with developers to revise the PPA terms which were deemed unbankable. Further, these markets will transition to competitive procurement mechanisms for wind power, which will support post-2020 growth. Developers will add nearly 5GW of wind power capacity in these countries from 2018 to 2027.

Many smaller markets in Africa in the North-African, Sub-Saharan and West African sub-regions will experience sporadic, project-scale developments defying multifaceted challenges. Ghana, Senegal, Tanzania will be the key players in their respective sub-regions.

About 20 small markets in Africa are anticipated to add more than 5GW of wind power capacity over the 10-year outlook period, creating opportunity for project developers and turbine OEMs whose resolve will be tested by a multitude of challenges.

Source:
MAKE
Author:
Press Office
Link:
www.consultmake.com/...
Keywords:
Africa, MAKE, consulting, renewable energy, energy market, demand, electricity



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