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Africa's wind industry is expected to soar due to a range of drivers such as increased electricity demand and falling wind costs, adding 30 gigawatts (GW) of new capacity
over the next decade.
Sohaib Malik, a market analyst at MAKE Consulting, has released a new report focusing on the African wind sector, forecasting capacity additions of 30 GW
between 2018 and 2027.
Among them, South Africa, Egypt and Morocco will dominate the entire African wind power market, accounting for two-thirds
of the total capacity.
South Africa's newly elected government has signed "long-awaited" power purchase agreements (PPAs) and announced a new round of tenders
in the fourth quarter, according to the new African Wind Market Outlook report.
Sohaib Malik said, "This move ends a period of uncertainty that has hindered the development of
renewable energy in the country.
”
In Egypt, renewable energy developers are beginning to demonstrate their ability to reduce costs, which MAKE expects will make wind power the cheapest source
of electricity generation in the country.
Meanwhile, despite delays in project execution in Morocco, MAKE expects the country to still be on track to meet its 5 GW wind capacity target
by 2030.
However, these three markets will join new markets across the continent, including Ethiopia, Kenya and Tunisia, and will be able to translate their ambitious targets into actual market development
once the issue of "imperfect regulatory frameworks" is addressed.
Currently, Tunisia is forced to reformulate PPA policies previously considered "unbankable", while these countries are expected to transition to competitive auction mechanisms, which MAKE expects to support growth
beyond 2020.
Specifically, MAKE expects that the three countries will be able to install 5 GW of wind capacity
by 2027.
MAKE also expects smaller markets to start growing across Africa, with Ghana, Senegal and Tanzania becoming major players
in their respective subregions, for example.
Overall, MAKE expects around 20 small African markets to add more than 5 GW of wind capacity
over the next decade.
Africa's wind industry is expected to soar due to a range of drivers such as increased electricity demand and falling wind costs, adding 30 gigawatts (GW) of new capacity
over the next decade.
Sohaib Malik, a market analyst at MAKE Consulting, has released a new report focusing on the African wind sector, forecasting capacity additions of 30 GW
between 2018 and 2027.
Among them, South Africa, Egypt and Morocco will dominate the entire African wind power market, accounting for two-thirds
of the total capacity.
South Africa's newly elected government has signed "long-awaited" power purchase agreements (PPAs) and announced a new round of tenders
in the fourth quarter, according to the new African Wind Market Outlook report.
Sohaib Malik said, "This move ends a period of uncertainty that has hindered the development of
renewable energy in the country.
”
In Egypt, renewable energy developers are beginning to demonstrate their ability to reduce costs, which MAKE expects will make wind power the cheapest source
of electricity generation in the country.
Meanwhile, despite delays in project execution in Morocco, MAKE expects the country to still be on track to meet its 5 GW wind capacity target
by 2030.
However, these three markets will join new markets across the continent, including Ethiopia, Kenya and Tunisia, and will be able to translate their ambitious targets into actual market development
once the issue of "imperfect regulatory frameworks" is addressed.
Currently, Tunisia is forced to reformulate PPA policies previously considered "unbankable", while these countries are expected to transition to competitive auction mechanisms, which MAKE expects to support growth
beyond 2020.
Specifically, MAKE expects that the three countries will be able to install 5 GW of wind capacity
by 2027.
MAKE also expects smaller markets to start growing across Africa, with Ghana, Senegal and Tanzania becoming major players
in their respective subregions, for example.
Overall, MAKE expects around 20 small African markets to add more than 5 GW of wind capacity
over the next decade.
