Africa and Latin America are expected to benefit from government support for the hydropower sector. More and more governments in developing countries are encouraging public and private partnerships to tap unexploited hydropower potential according to GBI Research. Africa is expected to become an emerging hydropower market by 2020.
A new report by GBI Research titled Hydro Power Market to 2020 – Energy Management Strategies and Green Funds to Drive Emerging Markets in Latin America and Africa said that hydropower is expected to remain at the top of contributors to renewable power as developing countries struggle to meet growing power demands.
The report went on to say that support in the form of financial policies and incentives is currently provided by world governments in favor of hydropower generation. Hydropower is an inexpensive and reliable form of clean energy, and as a result is gaining increased levels of interest, seen in the development of many available opportunities for the exploitation of natural water resources around the world.
Currently the lack of proper infrastructure and investment holds back any one country from emerging as a major player. GBI said that this lack hinders the maintenance and renewal of existing hydropower plants, slowing the growth of the African hydropower market. Changing this is the ever increasing demand for electricity in developing nations. Demands for more power are leading governments to develop lucrative policies and incentives to secure investments in the hydropower sector.
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