Albany, New York, February 28, 2017: According to a new market analysis by Transparency Market Research, renewable energy is developing at a rapid speed and along with this, hydropower remains the most explored and primary source of clean energy. It is because small hydro plants have the productivity over 90% which makes it resourceful and favorable energy among the other renewable sources. To explore the market status and future development of small hydropower, this study analyzes the countries of Africa, therefore titled as “Small Hydropower Market- Africa Industry Analysis 2016-2024” and has been recently added to the vast portfolio of Market Research Hub (MRH).
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The market analyst has studied that, small hydropower in Africa has huge potential, as yet limited numbers of small hydropower stations are in operation, which makes a positive impact on the market. Additionally, the substantial expansion of hydropower and the increasing prominence to put on hydroelectricity in developing regions are anticipated to be key drivers of the African small hydropower market. The report also adds that the overall competitive scenario within the African small hydropower market is probable to remain diverse over the coming years.
The key findings of the study displays that, the African Small Hydropower market’s potential capacity is projected to reach 49,706.1 MW by 2024, after escalating at a CAGR of 19.2% during the forecast period of 2016 to 2024, which is a great extent as compared to 2015 potential capacity, which was only 9,752.9 MW. Moreover, in terms of geography, the Africa small hydropower market is segmented into Zambia, Morocco, South Africa, Tanzania, Nigeria, Ghana, and rest of Africa. Among these, Zambia and Ghana show high potential for small hydropower adoption.
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Furthermore, the report describes that today one of the bigger concerns in the world is the provision of greener energy when it comes to power generation. This impacts a region on multiple levels. Therefore, the demand for small hydropower is increasing as these systems use the flow of water to turn turbines that are connected to a generator for the production of electricity, in a similar way to larger traditional hydroelectric systems. This hydroelectric energy is the cleanest form of renewable and has high capacity utilization and plant availability factor.
It has been further analyzed by the study that, Off-grid power generation is a highly desirable and viable alternative to solve the energy crisis in Africa. Accordingly, the need for off-grid electricity in the future is growing constantly. Other factors also driving the Africa small hydropower market include the low cost associated with the overall generation of hydropower.
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Some of the crucial players in the small hydropower market so far, have included Mecamidi, Artelia, Lesotho Electricity Company, Agder Energi AS, Ontario Power Generation, Inc., Africa Infrastructure Investment Managers (AIIM), Eco Power Holdings, Alstom SA, Siemens AG, BC Hydro and Power Authority, RusHydro PJSC, ZESCO Ltd., Mozambique Electricity Company etc.
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