Bloomberg: renewable development exploding in Africa
Near Ngozi, Tanzania (source: Geothermal Power Tanzania Ltd.)
Francisco Rojas
26 Aug 2014
Renewable energy is being develop at a dazzling speed in the African continent, driven by high costs of fossil fuels and falling costs for green energy generation.
Renewable Energy is experiencing massive growth in the african continent, in fact, more renewable energy is expected to be installed this year alone than on the last 14 years according to a recent news piece from Bloomberg News. The main driver for this influx of green dominance, is due to advances in technology that make renewables more cost effective and attractive and the progressive increase of fossil fuel prices that are giving green tech, such as geothermal a very desirable look.
Being a common theme in our website, Africa is rich on geothermal resources and more companies both local and international are willing to invest and expand in the continent in order to fuel the growing demand for power.
According to the same news source, “about 3.9 gigawatts of renewable energy, mostly wind and solar, is estimated to be installed in South Africa from 2014 through 2016. Over that period, Kenya is expected to add 1.4 gigawatts while Ethiopia will install 570 megawatts of primarily geothermal and wind capacity.”
To read the full article, please follow the link below:
Source: Bloomberg News Website
