West Africa needs US $7bn power investment

Mar 19, 2020 | 2030 Forecast, Forecast, Markets, Power

This demand is based on ABiQ's population forecast over the next decade. The demand could even double to 6 GW by 2030.

With West Africa’s population set to exceed 485 million by 2030, ABiQ predicts the region will need more than 3 GW of new capacity to simply maintain the current access to power.

With West Africa having one of the world’s lowest electricity consumption rates, to maintain the current ratio of access to power, we’ve forecasted that this demand could easily double generating capacity to 6 GW. Using current capital cost of $1.20 per watt, this would equal more than $7 billion of investment in power generating capacity over the next 10 years.

These requirements and investments don’t even take into account the growth of other sectors requiring power and electricity, or the complexity of remote access to villages.

For more information on Africa’s power demands, get in touch.

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