Equatorial Guinea Power Market Size (2024 - 2029)

Equatorial Guinea Power Market Size Summary

The Equatorial Guinea power market is poised for growth, driven by increasing electricity demand and sector investments. Despite challenges such as underdeveloped transmission and distribution infrastructure, which limits electricity access to a significant portion of the population, the market is expected to expand. The hydropower segment is anticipated to be the fastest-growing and dominant force in the market, supported by investments in new hydropower projects. These projects, along with a shift towards renewable energy sources like solar, present opportunities for market players to reduce reliance on fossil fuels. The country's focus on expanding power generation capacity, particularly through hydro projects, is a key factor in the market's growth trajectory.

Investment in power projects, especially renewable energy initiatives, is expected to bolster the Equatorial Guinea power market. The government's efforts to increase utility grid coverage and the development of new power plants, such as those by Wartsila Oyj Abp, are significant contributors to market expansion. Although the country remains heavily dependent on the oil and gas sector, the introduction of thermal energy projects and the construction of large-scale hydropower plants, like the Sendje project, are set to enhance the country's power generation capabilities. The market is consolidated, with key players including Wartsila Oyj Abp, Power Construction Corporation of China, and Sociedad de Electricidad de Guinea Ecuatorial, who are instrumental in driving the sector's development.