(SeeNews) - Aug 21, 2014 - Sub-Saharan Africa is expected to put on stream about 1.8 GW of renewable energy plants in 2014, more than it switched on in the past 14 years, Bloomberg New Energy Finance (BNEF) said today.
The projected capacity for this year does not include large hydropower facilities, the market analyst noted, adding that geothermal, wind and solar will be the main deployed technologies.
The growth will be due to rising demand for electricity and lower costs for wind and solar power in the region. “What is different now is the breadth of activity, with wind, solar and geothermal exciting interest in many different countries, and the potential for further growth,” analyst Victoria Cuming said.
South Africa alone is seen to add 3.9 GW of renewables capacity in the 2014-2016 period, most of which will be wind and solar. Meanwhile, Kenya is to install 1.4 GW, while new plants for the same period in Ethiopia will be 570 MW, mainly geothermal and wind.
In terms of renewable energy investment, African countries including South Africa, Kenya and Ethiopia, are expected to attract about USD 5.9 billion (EUR 4.4bn) this year alone, which may increase to USD 7.7 billion in 2016. For comparison, the average annual investment between 2006 and 2011 amounted to USD 1 billion.
(USD 1.0 = EUR 0.754)