Digital Transformation Slows Down the Global Economy
Africa To Overtake Europe in the Geothermal Power Sector by 2050
By Shubhendra Anand , 06 December, 2023
Africa sets up a superior geothermal power sector to surpass the geothermal setup of Europe by 2050. The surveys in 2023 show that the African geothermal format can overtake the European geothermal power sector with an investment of USD 35 billion by the end of 2050.
The recent development implies that Africa's geothermal sector is ready to meet the exponentially growing energy demands in the countries. With the latest reports on the geothermal industry, Africa's geothermal energy sector stands at sixth position worldwide in 2023. However, the region is expected to become the third largest in the world in geothermal energy sector by 2030. In Africa, the capacity of the geothermal energy sector is about 1 gigawatt (GW) in 2023, accounting for only half of Europe's total geothermal energy sector. Investment in the geothermal energy sector by 2050 will give rise to more than double the capacity of the geothermal energy sector by the end of 2030. The above data is provided for the already announced projects to be implemented shortly. The sources informed that geothermal power generation capacity in the African region is anticipated to increase up to 13 gigawatts (GW) of energy by the end of 2050. It is noted that the expected increase in the geothermal energy capacity in Africa is more than double the expected geothermal energy capacity of 5.5 gigawatts (GW) in Europe BY 2050.
Countries like Kenya and Ethiopia are supposed to contribute up to 90 percent of the African region's total capacity for geothermal energy. Kenya also announced that integrating geothermal energy into its power mix will aid in 8 gigawatts of geothermal energy capacity by 2050. The surveys added that the soaring demand for geothermal energy capacity will expand in the upcoming decades till 2050. The investment in the growth contributes towards significant development of the African region, with geothermal energy projects announced in 2023.
Geothermal Power Generation Forecasts For Africa
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Shubhendra Anand
Head Research
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