Please Wait.....
Report
Venezuela Renewable Energy Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 95 Pages I Mordor Intelligence
The Venezuelan renewable energy market is expected to register a CAGR of more than 3.5% during the forecast period, 2022-2027. The COVID-19 outbreak in Q1 2020 had an adverse impact on investments, especially in the renewable energy sector, and further delayed the ongoing project installations. Factors such as the increasing hydropower installations, increasing share of renewable energy in the total energy mix to meet the rising power demand, and decreasing the dependency on fossil fuels to reduce carbon emissions are expected to drive the market. However, limited land and limited power capacity by variable renewable energy sources are expected to hinder the market growth during the study period.
Key Highlights
Hydropower is expected to be the dominating segment in the Venezuelan renewable energy market during the forecast period, owing to increasing installation capacity. It is considered one of the dominating energy generation sources.
The Venezuela Plan for the National Electric System aims to integrate renewables into the power system. The plan aims to develop 613 MW of renewable energy by 2033. This is expected to create ample opportunities for the market players soon.
The increasing share of renewable energy in the total energy mix is expected to drive the Venezuelan renewable energy market.
Venezuela Renewable Energy Market Trends
Hydropower Segment to Dominate the Market
The market for hydropower in Venezuela is huge and accounts for most of the electricity production in the country. Hydropower accounted for around 85% of the total power generation mix in 2020. In terms of renewable power generation, hydropower is the only source that has been utilized for power generation.
The Guri hydroelectric power plant has an installed capacity of 10,200 MW and is one of the biggest power plants in the world. The plant provides approximately 50,000 GW/h of energy to the country annually.
Venezuela accounts for approximately 73% of the country's energy requirements that are met by the Guri power plant.
In 2020, Venezuela had a total installed capacity of 16,521 MW of hydropower. This is expected to be the dominating renewable energy source during the forecast period.
Venezuela has great potential to use power from hydroenergy, and this is expected to drive the growth of the renewable energy market during the forecast period.
Plans to Increase Renewable Energy Share in the Energy Mix Driving the Market Demand
As demand for energy is rising, Venezuela is turning toward adopting renewable energy as it can provide clean energy. The adoption of renewable energy with advanced technology gradually makes hydropower, solar, and wind significant sources of renewable energy.
Venezuela is in its transition stage toward new energy, in which renewable energy is expected to become the fundamental resource to address the country on its path to sustainability. According to the latest statistics published by the International Renewable Energy Agency, Venezuela had around 16.59 GW of installed renewable energy generation capacity in 2020.
In 2020, the Venezuelan government announced a plan to build its first utility-scale PV project to strengthen its National Electric System. In particular, solar energy is providing an important contribution to meeting the energy demand in the electricity sector. The electricity generated by solar PV was about 0.05 TWh in 2020.
In 2020, Venezuela was also planning to build wind farms with a generating capacity of 10,000 MW over the next 15 years. This is expected to increase the renewable energy share in Venezuela's total energy mix.
Moreover, in June 2021, Venezuela commenced operations of the first photovoltaic system in the country, located in Guarico state.
However, the proposed plans are expected to witness significant growth, driving the Venezuelan renewable energy market during the forecast period.
Venezuela Renewable Energy Market Competitor Analysis
The Venezuelan renewable energy market is consolidated. The key players in the market include SOLINAL CA, INGESOL CA, Siemens Gamesa Renewable Energy SA, Andritz AG, and Corpoelec (National Electric Corporation).
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 Renewable Energy Installed Capacity and Forecast in GW, till 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 Supply Chain Analysis
4.7 PESTLE Analysis
5 MARKET SEGMENTATION - BY TYPE
5.1 Wind
5.2 Solar
5.3 Hydro
5.4 Bio-energy
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 SOLINAL CA
6.3.2 INGESOL CA
6.3.3 Siemens Gamesa Renewable Energy SA
6.3.4 Andritz AG
6.3.5 Centrais Eletricas do Norte do Brasil SA
6.3.6 Corpoelec (National Electric Corporation)
6.3.7 HPC Venezuela CA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security