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Authored by Max Smith

Africa Renewable Energy Market Report and Forecast 2020-2025

Africa Renewable Energy Market will make up almost half of sub-Saharan Africa’s power generation growth by 2040, according to a report by the International Energy Agency. which is the IEA’s first major analysis of sub-Saharan Africa, looked at the region’s potential to supply energy to the approximately 620 million people who still lack access to electricity. Sub-Saharan Africa’s economy has been growing rapidly since 2000, the report notes, but the fact that two-thirds of the region’s population lacks access to electricity is stymieing that growth. These include a $450 billion investment in the region’s power sector, more cooperation in the region on energy projects, as well as better resource and energy-based revenue management. If all three of these suggestions are taken seriously by investors and by African governments, the region’s economy could be boosted by an additional 30 percent in 2040.

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