Renewable projects reach completion at record pace

From the newsletter

In July and August, at least 6,400 MW of renewable energy capacity and 1,230 MWh of battery storage were added through new completed projects, according to the Renewables Rising projects database. These two months accounted for the highest share so far, about 40% of all completed projects since we began collecting data at the start of the year.

• The two months saw at least 2.3 GW of new projects in pre-construction and 1 GW under construction. The sector’s attractiveness is driving many projects to secure funding and advance to construction.

• Energy storage projects totalled roughly 3,755 MWh, with almost half of this capacity coming from Egypt, where a 300 MWh plant was completed in a record two months.

More details

• To compile the Renewables Rising project database on renewables development across Africa, we rely on media monitoring and local data collectors. Although we aim for full inclusivity, absolute comprehensiveness isn’t assured.

• Since July, we have tracked 78 projects in various phases of construction. While hydropower leads in deployment, solar projects continue to dominate, driven by rapidly falling solar prices. We recorded 3,391 MW of solar projects, 1,340 MW of solar + battery projects, 1,138 MW of wind projects, 520 MW of solar + wind projects, and 100 MW of concentrated solar power.

• Moreover, in the case of solar, we are seeing new technologies and ideas emerging to harness the power of the sun. The past two months featured a concentrated solar power plant in South Africa, and in August, independent renewable energy company Qair secured $5.7 million to finance the development, construction, operations, and maintenance of a 5.8 MWp floating solar plant in Seychelles.

• Hybrid projects across the continent are gaining traction and now include wind + solar configurations. In July, Envusa Energy, a joint venture between Anglo American and EDF Power Solutions, advanced a 520 MW hybrid energy project in South Africa, the Koruson 2 cluster, comprising solar and wind assets. 

• Overall, twenty-five African countries had projects announced. Ethiopia led with 5,550 MW worth of projects, followed by South Africa, Mozambique, Egypt, and Morocco. New entrants in our list include Libya, Djibouti, and The Gambia, with projects with at least 9 MW capacity.

• In terms of regions, East Africa and Southern Africa account for the bulk of capacity with a combined 10,181 MW, representing a substantial 76% of total projects. North Africa, which traditionally leads, posted fewer projects in the past two months after a strong start to the year, implementing utility-scale wind and solar projects. West Africa and Central Africa comprise the remainder.

Our take

• As renewable energy costs continue to plummet, especially solar prices, we expect more projects to be announced and a greater number to progress through the stages of development in the coming years. Africa is poised to add over 40 GW of renewable capacity by 2030, positioning the continent as a global leader in clean energy expansion.

• That said, policies remain a key driver for project implementation and guide projects from announcement to commissioning. Countries lagging in renewables, such as Libya, where we recorded a singular 1 MW project, should adopt better policies to fast-track and enable a renewables revolution.

• Ultimately, solar will be the backbone of renewables in Africa. Prices continue to fall, and solar is the easiest to deploy with less complex and shorter timelines.