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African Power and Energy Outlook—2023

Future Growth Potential to be Driven by Electrification Mandates and EU Exports

INDUSTRY
Energy

RELEASE DATE
04-Apr-2023

REGION
Africa

DELIVERABLE TYPE
Market Outlook

RESEARCH CODE
PE97-01-00-00-00

SKU
EG02311-AF-MO_27525

African Power and Energy Outlook—2023
Published on: 04-Apr-2023 | SKU: EG02311-AF-MO_27525

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Description

Universal access to electricity has been central to the African development story, with power being critical to the continent's economic growth. As more than 600 million people (or 44% of the population) lack access to electricity, Africa is racing to add capacity to electrify rural communities and secure baseload supply in urban and industrial zones.

This outlook study captures the status of the African power and energy industry and Frost & Sullivan's expectations from it in 2023 (based on its observation of key trends over the past few years and anticipated future trends). The study also explores the investment avenues available for market participants during Africa's electrification drive. In addition, it examines other opportunities likely to arise on the back of the continent's efforts in terms of decarbonization and the management of the evolving power demand.

Opportunities will arise due to a net capacity addition of more than 243 GW in the pipeline, easy access to financing for renewable projects, and several incentives earmarked to attract foreign investments. Strategic partnerships and local knowledge are not only critical factors for market success but are also legal requirements.

Key Issues Addressed

What is the installed capacity of power generation assets in Africa, and what is the total market revenue potential?
Which major trends are impacting the continent's power and energy industry?
What growth opportunities are available for existing participants and new entrants?
What is the market revenue potential for prominent African countries?

Table of Contents

Analysis Highlights

Top Predictions for 2023

Strategic Imperatives

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Power and Energy Industry

Growth Opportunities Fuel the Growth Pipeline EngineTM

Research Scope

Segments Included in the Study

African Power and Energy Industry: Status and Growth Environment

Key Power and Energy Growth Themes

Key Growth Challenges Impacting the Power and Energy Industry

African Power and Energy Industry: Trends—2023

Major Trends Shaping the African Power and Energy Industry

The Great African Electrification Drive

SHSs, Mini Grids, Diesel Gensets, and the Growth of Distributed Generation

Diesel Generators: Installed Capacity across the Continent

Slow but Steady Growth of Utility-scale Renewables

Renewable Hotspots

Renewable Hotspots (continued)

Hydrogen for Export

Growth of Energy Storage Technologies

Hydropower: PSH and FPV to Takeoff, Given their Vast Potential

The War of Opportunities: The Africa-EU Partnership

Accelerated Growth of Pan-African Energy Infrastructure

Accelerated Growth of Pan-African Energy Infrastructure (continued)

Africa is Set to Become a Key Carbon Offset Market

Revenue Trends

Annual Power Generation Capacity Addition

Annual Power Generation Investment Forecast

Installed Power Generation Capacity Forecast

Power Generation Installed Capacity

Annual Power Generation Investments

Key Growth Pockets

Algerian Power and Energy Market Forecast

Algerian Power and Energy Market Discussion

South African Power and Energy Market Forecast

South African Power and Energy Market Discussion

Moroccan Power and Energy Market Forecast

Moroccan Power and Energy Market Discussion

Ghanaian Power and Energy Market Forecast

Ghanaian Power and Energy Market Discussion

Nigerian Power and Energy Market Forecast

Nigerian Power and Energy Market Discussion

Growth Opportunity Universe

Growth Opportunity 1: Establishing a Local Solar PV Value Chain

Growth Opportunity 1: Establishing a Local Solar PV Value Chain (continued)

Growth Opportunity 2: Micro Grid Systems for Data Centers

Growth Opportunity 2: Micro Grid Systems for Data Centers (continued)

Growth Opportunity 3: Energy Storage Value Chain

Growth Opportunity 3: Energy Storage Value Chain (continued)

Growth Opportunity 4: Energy Infrastructure—Energy Transition, Grid Expansion, and Modernization Investments

Growth Opportunity 4: Energy Infrastructure—Energy Transition, Grid Expansion, and Modernization Investments (continued)

Conclusions

Conclusions and Future Outlook

Annexure

References and Acknowledgments

Next Steps

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

List of Figures & Charts

List of Figures

Power and Energy Outlook: Annual SHS Shipment, Africa, 2022–2030
Power and Energy Outlook: Growth of Mini Grids, Africa, 2022–2030
Power and Energy Outlook: Installed Capacity of Diesel Generators, Africa, 2022
Power and Energy Outlook: Annual Capacity Addition of Renewables, Africa, 2022–2030
Power and Energy Outlook: Hydrogen Hotspots, Africa, 2022–2030
Power and Energy Outlook: Energy Storage Projects, Africa, 2022–2030
Power and Energy Outlook: Status of Energy Storage, Africa, 2022
Power and Energy Outlook: PSH Projects, Africa, 2022
Power and Energy Outlook: Upcoming FPV Projects, Africa, 2023–2030
Power and Energy Outlook: Announced Interconnector Projects, Africa, 2022
Power and Energy Outlook: Annual Capacity Addition by Fuel Type, Africa, 2022–2030
Power and Energy Outlook: Investment by Fuel, Africa, 2022 and 2030
Power and Energy Outlook: Annual Investment Forecast by Country, Africa, 2023
Power and Energy Outlook: Installed Capacity by Fuel, Africa, 2022 and 2030
Power and Energy Outlook: Installed Capacity by Country, Africa, 2023
Power and Energy Outlook: Power Generation Installed Capacity by Country, Africa, 2022–2030
Power and Energy Outlook: Power Investments by Country, Africa, 2022–2030
Power and Energy Outlook: Power Generation Investment Forecast, Algeria, 2023–2030
Power and Energy Outlook: Power Generation Capacity Addition Forecast, Algeria, 2022–2030
Power and Energy Outlook: Power Generation Investment Forecast, South Africa, 2023–2030
Power and Energy Outlook: Power Generation Capacity Addition Forecast, South Africa, 2022–2030
Power and Energy Outlook: Power Generation Investment Forecast, Morocco, 2023–2030
Power and Energy Outlook: Power Generation Capacity Addition Forecast, Morocco, 2022–2030
Power and Energy Outlook: Power Generation Investment Forecast, Ghana, 2023–2030
Power and Energy Outlook: Power Generation Capacity Addition Forecast, Ghana, 2022–2030
Power and Energy Outlook: Power Generation Investment Forecast, Nigeria, 2023–2030
Power and Energy Outlook: Power Generation Capacity Addition Forecast, Nigeria, 2022–2030

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