A new report analyzing 10 solar markets throughout Africa claims that the continent’s PV market could expand from about 5 GW at present to up to 30 GW by the end of the next decade.
According to a new report from BloombergNEF, cheap solar energy could benefit many businesses in sub-Saharan Africa. However, regulatory and financial obstacles are causing concern.
According to the agency, a mimimum of 8 GW of solar will be deployed across the 15 countries that comprise the Economic Community of West African States (Ecowas) by the end of the next decade. Nigeria, Ghana and Côte d’Ivoire will lead the future growth of PV in the region.
The solar plant was built by the local IPP, Meinergy Ghana Ltd in Gomoa Onyaadze, in southern Ghana. The country’s President Nana Addo Dankwa Akufo-Addo said that further IPP projects will be brought online via competitive bidding, and that solar bids will have to be cheaper.
The U.K. Government says it will make £56 million available for battery storage technologies in South Africa. Nigeria also saw the next phase of the U.K.-Nigeria Climate Finance Accelerator unveiled; while the continent as a whole, is set to benefit from further partnerships and investment in both solar and climate change.
The Zahid Group has invested an undisclosed amount in Germany-based Greencells. A key focus for the latter will now be hybrid systems in the APAC and African regions. An update on the 1.2 GW Sweihan solar project in Abu Dhabi was also given.
Ghana is planning to grow its solar industry, via utility-scale solar, off-grid projects and domestic manufacturing, the President said at the International Solar Alliance (ISA) founding ceremony.
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