In 2020, construction work began on $17 billion of privately funded energy projects in sub-Saharan Africa. The 44% of the projects were carried out in Nigeria, followed by Angola with the 14%.
Good news for sub-Saharan Africa (SSA): all construction work started during 2020 were renewable energy projects. The largest financier by number of projects financed in the energy sector in sub-Saharan Africa was the African Development Bank Group with 11% of market share, followed by the Africa Growing Together Fund and the World Bank in third place, with ten and seven percent. cent respectively. When the data is analyzed based on the total value of investments in the SSH energy sector, the Export-Import Bank of China is in the number one position, followed by the Swedish Export Credit Corporation and the Development Bank of Southern Africa.
Nigeria, Kenya and Burkina Faso occupied the top three positions looking at the markets with the most projects commencing construction works in 2020. However, by the total value of investment in the energy sector, Nigeria, Angola and the Republic Democratic Republic of the Congo took the first three positions. Total investment in Nigeria's energy sector was almost three times that of second-ranked Angola.
Sinohydro Corporation Limited took the first place as the contractor with the most construction starts in the SSH power sector. Eifage Genie Civil, Engie SA and Ineo Energy Systems jointly took second place. However, by the total investment value of energy sector project starts, the top three places are all Chinese contractors led by Sinohydro Corporation Limited, followed by CGNOC Group and China Gezhouba Group Company.
Top 20 SSH Markets for Renewable Energy Investment by Value in 2020
Top 20 SSH Markets for Renewable Energy Investments by Count in 2020
Source: ABIC Consulting