Africa’s geothermal sector is expected to attract a minimum of $35 billion in investments by 2050, according to a recent report from Rystad Energy. Investment will primarily target projects in Kenya and Ethiopia’s East African Rift, which will account for approximately 90% of Africa’s 13 GW geothermal capacity projected to be in place by 2050.
Based on these projections, Africa will become the third-largest geothermal power generator by 2030, with a total installed capacity surpassing that of Europe.
“The geothermal industry in Africa is picking up steam and could meet soaring demand across the continent in the decades to come,” stated Daniel Holmedal, Senior Supply Chain Analyst at Rystad Energy. “Analyzing already announced projects signals significant growth on the horizon, but developments that we project to come online given economics and demand really highlight the rapid build out.”
Source : ECP