Botswana Renewable Energy Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 20.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Botswana Renewable Energy Market Analysis
The Botswana renewable energy market is expected to rise at a CAGR of more than 20% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market is likely to reach pre-pandemic levels.
- Over the medium term, factors such as supportive government policies and increasing adoption of renewable energy with the declining price of solar panels and wind turbine installations are expected to drive the market in the forecast period.
- On the other hand, the rising adoption of alternate clean power sources, such as gas-fired power plants and nuclear energy projects, is likely to restrain the market growth.
- Nevertheless, the technological advancements in solar PV manufacturing and government policies toward a greener environment will create opportunities for the market in the future.
Botswana Renewable Energy Market Trends
This section covers the major market trends shaping the Botswana Renewable Energy Market according to our research experts:
Solar Energy is Expected to Dominate the Market
- Due to the declining cost of solar modules and the adaptability of these systems for a variety of uses, including electricity production and water heating, the solar segment is anticipated to hold the greatest market share over the projection period.
- In renewable energy, the country only has a total installed capacity from solar energy. According to IRENA, the country's total solar energy installed capacity accounted for 6 MW in 2021, which has been stagnant for the last few years.
- With the upcoming solar projects and government policies toward renewable power, the solar energy segment is expected to grow in the forecast period.
- In February 2022, Botswana's Ministry of Mineral Resources, Green Technology, and Energy Security (MMGE) requested bids from national and international Independent Power Producers (IPPs) to design, build, own, operate and maintain a 200 MW capacity (2*100 MW) Concentrated Solar Power (CSP) plant.
- The proposed plant is a component of the nation's Integrated Resource Plan, which aims for the acquisition or construction by the government of 795 megawatts of new generation capacity by 2040. According to the Botswana Energy Regulatory Authority, at least 61% of the new projects would be renewable, including solar and wind power facilities.
- Thus, owing to the above points, solar energy is expected to dominate the market in the forecast period.
Supportive Government Policies and Programs Driving the Market Demand
- The majority (99%) of Botswana's 890MW installed capacity comes from coal resources, and the nation is working to rebalance the power mix by enlisting the private sector in the construction of additional renewable energy infrastructure. In 2021, according to IRENA, the total renewable energy capacity in Botswana accounted for 6 MW.
- According to the country's Integrated Resource Plan (IRP), there are strategic engagements by the Government of Botswana (GoB) on the country's transition to clean energy. In this regard, the program contributes to the introduction of at least 50MW and 100MW wind and solar PV capacity, respectively - in the period 2024 to 2027.
- Botswana wants to utilize renewable energy sources to attain economic energy security and independence. The country has significant untapped potential for renewable energy sources, particularly in the areas of solar, wind, and bioenergy. Botswana declared at the end of 2020 that by 2030, renewable energy will make up at least 15% of the nation's energy mix, and by March 2036, it would make up 50%.
- The GoB is making investments in local, national, and regional grid infrastructure to increase Botswana's exporting capabilities. The Botswana Power Corporation (BPC), has also started building a distribution network, which includes electrifying 116 rural communities, 44 of which have never had electricity before and expanding the remaining 72 villages.
- Owing to the above points and the government's target in support of renewable energy, the market is expected to grow in the forecast period.
Botswana Renewable Energy Industry Overview
The Botswana Renewable Energy Market is moderately fragmented. Some of the major players in the market (not in a particular order) include The Solar Zone, Grit-tech (Pty) Ltd., Botswana Power Corporation (BPC), SegenSolar (Pty) Ltd., and Clarke Energy.
Botswana Renewable Energy Market Leaders
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The Solar Zone
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Grit-tech (Pty) Ltd.
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Botswana Power Corporation (BPC)
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SegenSolar (Pty) Ltd.
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Clarke Energy
*Disclaimer: Major Players sorted in no particular order
Botswana Renewable Energy Market News
- September 2022: Botswana Power Corporation (BPC) awarded a contract to Norwegian company Scatec ASA (SCATC.OL) to develop a 50 MW solar facility, the company's first utility-scale renewable energy project, as Botswana seeks to expand power supplies and clean energy shares.
- September 2022: Botswana Power Corporation (BPC) signed a binding 25-year Power Purchase Agreement (PPA) to build a 50MW solar PV facility in the former mining town of Selebi Phikwe.
Botswana Renewable Energy Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of Study
1.2 Market Definition
1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Renewable Energy Mix, 2022
4.3 Renewable Energy Installed Capacity and Forecast in MW, till 2028
4.4 Major Upcoming Renewable Energy Projects
4.5 Recent Trends and Developments
4.6 Government Policies and Regulations
4.7 Market Dynamics
4.7.1 Drivers
4.7.2 Restraints
4.8 Supply Chain Analysis
4.9 PESTLE Analysis
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Solar Energy
5.1.2 Wind
5.1.3 Hydropower
5.1.4 Other Type
6. COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 The Solar Zone
6.3.2 Grit-tech (Pty) Ltd.
6.3.3 Botswana Power Corporation (BPC)
6.3.4 SegenSolar (Pty) Ltd.
6.3.5 Clarke Energy
6.3.6 So Solar Pty Ltd
6.3.7 Eni S.p.A.
6.3.8 Scatec ASA
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Botswana Renewable Energy Industry Segmentation
Renewable energy is the energy collected from renewable resources such as sunlight, wind, the movement of water, and geothermal heat that are naturally replenished.
The Botswana renewable energy market is segmented by Type. By type, the market is segmented into wind energy, solar energy, hydropower, and other types. For each segment, the installed capacity and forecasts have been done based on megawatts (MW).
| Type | |
| Solar Energy | |
| Wind | |
| Hydropower | |
| Other Type |
Botswana Renewable Energy Market Research FAQs
What is the current Botswana Renewable Energy Market size?
The Botswana Renewable Energy Market is projected to register a CAGR of greater than 20% during the forecast period (2024-2029)
Who are the key players in Botswana Renewable Energy Market?
The Solar Zone, Grit-tech (Pty) Ltd., Botswana Power Corporation (BPC), SegenSolar (Pty) Ltd. and Clarke Energy are the major companies operating in the Botswana Renewable Energy Market.
What years does this Botswana Renewable Energy Market cover?
The report covers the Botswana Renewable Energy Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Botswana Renewable Energy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Botswana Renewable Energy Industry Report
Statistics for the 2024 Botswana Renewable Energy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Botswana Renewable Energy analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
