Construction started on $17 billion of funded energy projects
In 2020, construction work started on $17 billion of privately funded energy projects in Sub-Sahara Africa. Forty-four per cent of the projects were in Nigeria, followed by Angola with 14 per cent.
Good news for Sub-Sahara Africa (SSA): All of the construction work started during 2020 were renewable energy projects. The largest financier by the number of projects funded Sub-Sahara Africa’s energy sector was the African Development Bank Group with 11 per cent of the market share, followed by the Africa Growing Together Fund and the World Bank in third place, with ten and seven per cent respectively. When the data is analysed based on the total value of investments in the SSH energy sector, the Export-Import Bank of China is in the number one position, followed by the Swedish Export Credit Corporation and the Development Bank of Southern Africa.
Nigeria, Kenya and Burkina Faso took the first three positions looking at markets with the most projects that started construction work in 2020. However, by the total investment value in the energy sector, Nigeria, Angola, and the Democratic Republic of the Congo took the first three positions. Nigeria’s entire energy sector investment was almost three times that of Angola in the second position.
Sinohydro Corporation Limited started took first place as contractor with the most construction starts in the SSH energy sector. Eifage Genie Civil, Engie SA and Ineo Energy Systems jointly took second place. However, by the total investment value of energy sector project starts, the top three places are all Chinese contractors led by Sinohydro Corporation Limited, followed by CGNOC Group and China Gezhouba Group Company.
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