(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Apr 30, 2021, 05:14 /Comserve / -- The report analyze market size, share, growth, trends, segmentation, top key players, strategies, demand, statistics, competitive landscape and forecast.
The renewable energy market in North Africa is expected to grow at a CAGR of more than 6% in the forecast period of 2020-2025. Factors such as supportive government policies and efforts to meet power demand using renewables and decrease dependency on fossils are expected to be significant contributors to the growth of the market. The availability of the immense potential of solar energy and ample area for project installation provides favorable conditions for the growth of renewable energy. On the other hand, lack of acceptance in countries like Libya and Tunisia and high installation costs for renewable energy projects are a few restraining factors for the growth of the market.
- The solar energy market is expected to dominate in the forecast period. Large scale projects are under construction, which is expected to be operational in the forecast period.
- Egypt announced its Integrated Sustainable Energy Strategy 2035, which is emphasizing on the growth of renewable to 20% by 2022 and 42% by 2035. With this growth, Egypt is aiming to generate 61,000 MW of renewable energy by 2035. This is expected to act as an opportunity for the renewable energy market in the country.
- With 6 GW of installed capacity of renewable energy in 2019, Egypt is leading the North African market. Owing to the upcoming projects, Egypt is expected to dominate in the forecast period also
Click Here to Download Sample Report >>
Key Market Trends
Solar Energy is Expected to Dominate the Market
- In January 2019, the Moroccan Agency for Sustainable Energy (Masen) launched a tender for the Noor Atlas Projects, a 200 MW scheme to deploy seven PV plants in the southern and eastern parts of the country.
- Morocco is aiming to build 2 GW of generation capacity under the Noor Solar Plan. Masen kicked off another tender for the 230 MW CSP/PV Noor Midelt II project in July 2019.
- In 2019, 32 plants with a capacity of 1,465 MW were completed and started commercial operation in Benban Solar Park of Egypt. Four other plants with a capacity of 200 MW are estimated to be operational in the forecast period and drive the solar market.
- In December 2019, AMEA Power signed The Egyptian Electricity Transmission Company to build a 200 MW solar project and 500 MW wind farm in Egypt under the 20-year take-or-pay agreement.
- With 2919 MW of solar capacity in 2019, North Africa witnessed continuous growth in solar energy, which is expected to continue in the future also.
- Owing to several projects under construction or under the tender phase in different nations, solar energy is expected to dominate the market in the forecast period.
Egypt to Dominate the Market
- Projects like West Bakr wind farm with a capacity of 250 MW are expected to be operational in 2021. The plant is expected to generate 1000 GWh of clean energy that will supply power to 350,000 houses.
- With the opening of the Ras Ghareb Wind Farm project with a capacity of 262.5 MW, in November 2019, Egypt has taken a giant leap towards achieving its goal of 7 GW of wind energy by 2022.
- Under Integrated Sustainable Energy Strategy 2035, Egypt is aiming to generate 20% of electricity from renewable by 2022 and 42% by 3035. According to this strategy, 61000 MW of renewable capacity, including 31,000 MW from solar 12,000 from CSP and 18,000 MW from wind energy, will be installed by 2035.
- Egypt is leading in renewable energy in the North Africa region. The total installed capacity of renewable has increased from 3.5 GW in 2014 to 6 GW in 2019.
- The bold steps and visionary policies of the Egyptian government are expected to drive Egypt towards a renewablesleader in North Africa, making it possible to achieve the renewable goal of 2035.
Competitive Landscape
Request For Full Report >>
The North Africa renewable energy market is fragmented. Some of the major companies include Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy SA, Scatec Solar ASA, SkyPower Ltd, and ACWA POWER BARKA SAOG.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Scope of Study
1.2 Market Definiton
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Installed Capacity and Forecast in MW, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitute Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Source
5.1.1 Solar
5.1.2 Wind
5.1.3 Others
5.2 Geography
5.2.1 Morocco
5.2.2 Egypt
5.2.3 Algeria
5.2.4 Rest of North Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 JinkoSolar Holding Co. Ltd
6.3.2 Canadian Solar Inc.
6.3.3 Juwi Solar Inc.
6.3.4 Vestas Wind Systems A/S
6.3.5 Siemens Gamesa Renewable Energy SA
6.3.6 First Solar Inc
6.3.7 Scatec Solar ASA
6.3.8 SkyPower Ltd
6.3.9 ACWA POWER BARKA SAOG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
For more information, please contact:
Hina Miyazu Shibuya Data Count
Email:
Tel: + 81 3 45720790
MENAFN30042021004694010674ID1102008080
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.