The African continent will see 1.8 GW of added renewable energy capacity, sans hydropower plants, in 2014, according to Bloomberg New Energy Finance. South Africa, Kenya, and Ethiopia lead the investment sector with an estimated $5.9 billion this year alone and it could even reach $7.7 billion in 2016, compared with only $1 billion as an average annual investment from 2006-2011.
Bloomberg New Energy Finance analyst Victoria Cuming said that the reason for the surge was that sectors like wind, solar, and geothermal were creating excitement in various countries. South Africa is estimated to install about 3.9 GW of mostly wind and solar projects from 2014-2016 while Kenya is expected to add 1.4 GW and Ethiopia at 570 MW.
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