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Report
Gabon Power Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 90 Pages I Mordor Intelligence
The Gabon power market is expected to register a CAGR of more than 3.4% during the forecast period.
The Gabon power market was negatively impacted by the COVID-19 pandemic due to regional lockdowns and decreased power demand. However, the market rebounded in 2022. The country's power sector is expected to be driven by the investment of foreign players for the construction of new power plants during the forecast period. However, Gabon also has a large share of electricity being generated through fossil fuels. With the declining production of oil and gas, the country may increase its import, which is expected to restrain the growth of the Gabon power market.
The increase in the capacity of renewables to decrease the carbon footprint is expected to create an opportunity for renewable energy companies during the forecast period.
Gabon Power Market Trends
Hydropower Sector is Expected to Dominate the Market
Hydroelectricity is one of the major sources of electricity in Gabon. In 2021, the country's installed hydropower capacity was 331 MW. However, the country still relies on the import of electricity. In 2021, it imported 550 GWh of electricity from foreign grid lines to fulfill its electricity requirement.
Due to the increasing electricity demand, the Ministry of Water Resources & Electricity planned to increase the hydropower generation capacities in the coming years to become self-dependent and cut down the import of electricity.
The Poubara dam is the largest power plant with an installed capacity of 160 MW. Other hydropower projects currently in the planning stage or under construction include the Ngoulmendjim dam, Empress Eugenie Falls dam, and FE2 Falls dam.
The Gabonese government passed various tenders regarding hydropower plants to reduce the country's carbon footprint eventually.
In March 2022, the Multilateral Investment Guarantee Agency (MIGA) issued guarantees to Meridiam for equity investments into Asonha Energie SA, which will build and operate the 35MW Kinguele Aval Hydropower Plant in Gabon. The 20-year guarantees totaling around USD 28.7 million protect from breach of contract, expropriation, transfer restriction, currency inconvertibility, and war and civil disturbance.
With various hydropower projects expected to come online over the forecast period, the hydropower segment is expected to continue its dominance in the market studied.
Foreign Investment for Increasing Power Generation Capacity
Gabon is one of the richest countries in central Africa, where urban electrification reached more than 91.7% in 2020. However, access to electricity in rural areas is still low compared to urban areas. The Gabonese government is inviting foreign investment to increase installed capacity to fulfill the rural area electricity requirement.
In 2019, the African Development Bank and the GPC-Eranove Consortium signed an agreement to finance the Ngoulmendjim (73 MW) construction and Dibwangui (15 MW) hydropower plants in Gabon, with a total investment of USD 170 million. CGGC, a China-based company specializing in the construction of hydroelectric power stations, committed to funding the USD 200 million power project to strengthen the China-Africa cooperation under the Belt and Road Initiative.
In July 2021, the African Development Bank Group approved a USD 41.4 million loan package for the construction of the Kinguele Aval hydroelectric project in Gabon.
Apart from the hydropower projects, in August 2019, a French company, ENGIE, through its subsidiary, Ausar Energy, won the tender to build eight solar power plants.
Foreign investment is expected to drive the growth of the Gabon power market over the forecast period.
Gabon Power Market Competitor Analysis
The Gabon power market is fragmented. The key players in this market (in no particular order) are Eranove SA, Genser Energy Holdings Inc., China Gezhouba Group Company Limited, Engie SA, TBEA Co. Ltd, and others.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Installed Power Generation Capacity and Forecast in GW, until 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 PESTLE Analysis
5 MARKET SEGMENTATION
5.1 By Power Generation
5.1.1 Hydropower
5.1.2 Natural Gas
5.1.3 Others
5.2 By Power Transmission and Distribution
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Eranove SA
6.3.2 Genser Energy Holdings Inc.
6.3.3 China Gezhouba Group Company Limited
6.3.4 Engie SA
6.3.5 TBEA Co. Ltd
6.3.6 Wartsila Oyj Abp
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