A new analysis from Frost & Sullivan predicts that the Angolan electricity sector will reach $8.4 billion over the next few years as a result of the country’s robust economic growth and massive government investment in infrastructure development.
The report found that Angola’s two state-owned utilities earned revenues of $356 million in 2008 with a potential to reach $450 million in 2015. “Angola’s rapid economic growth has undoubtedly resulted in high levels of demand for electricity by both residential and commercial end users,” notes Frost & Sullivan energy program manager Cornelis van der Waal. “Despite the current financial crisis, the Angolan government is expected to continue its reconstruction program, with greater emphasis on the development of electricity infrastructure.”
Frost & Sullivan expects the Angolan power industry to grow by 20% by 2015 with the Angolan government dedicating $2.5 billion to the power sector to improve its capacity and efficiency.