Growing demand for electricity and falling costs for wind and solar power mean more renewable-energy projects will be commissioned this year in sub-Saharan Africa than were added from 2000 through 2013.
About 1.8 gigawatts of capacity, excluding large hydroelectric power plants, will be added in 2014, the London-based research firm Bloomberg New Energy Finance said today in a statement. Investment in countries including South Africa, Kenya and Ethiopia is estimated at $5.9 billion this year, and may reach $7.7 billion in 2016. Average annual investment from 2006 through 2011 was $1 billion.
