Energy IQ : Five insights into the future of energy for independent power producers – Part II

No. #3: Africa offers vast opportunities for power producersPace of Growth in Demand graph

Demand for electricity generation is forecasted to grow in Africa faster than any other region. A mix of factors including over half a billion people to join the continent’s urban population, increased access to electricity and expanding mineral extraction activities drive this demand.

Africa is also well positioned to find the fuels to fulfill this need. On the renewables side, Africa is solar rich, yet only less than 1% of the world’s installed solar capacity is in Africa, offering vast opportunities for power producers. When it comes to low carbon fuels, Africa benefitted from recent discoveries of gas deposits. In fact, 40% of global gas discoveries from 2010 to 2018 were in Africa.