Renewables MMI®: Africa’s Renewables Capacity to Quadruple by 2020

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Africa’s renewable energy capacity is expected to quadruple to about 120 gigawatts by 2030 if investors dedicate “substantial flows” of funds to the region, the International Renewable Energy Agency said.

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According to a Bloomberg News article, the continent’s renewable energy capacity in 2012 was 30.5 gigawatts, most from hydroelectric power plants, alongside conventional generation capacity of about 110 gigawatts, according to Irena figures. Twelve southern African countries from Angola to South Africa generate about 80 percent of their electricity from coal, and states on the east of the continent from Libya and Egypt to Kenya produce about 60 percent of their power from natural gas, Irena said.

A 0.2 percent improvement on the weekly Renewables MMI® made US steel plate the week’s biggest mover, closing at $823.00 per short ton. Following a steady week, prices for Korean steel plate closed flat at KRW 900,000 ($873.79) per metric ton. Closing at JPY 76,000 ($744.06) per metric ton, Japanese steel plate remained unchanged for the week.

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Chinese renewables prices were flat for the week. At CNY 204,000 ($32,662) per metric ton, the price of Chinese cobalt cathodes did not change since the previous week. At CNY 14,250 ($2,282) per metric ton, the week finished with no movement for silicon. Neodymium remained essentially flat from the previous week at CNY 415,000 ($66,445) per metric ton. Prices for Chinese steel plate remained constant, closing the week at CNY 3,850 ($616.42) per metric ton.

US grain-oriented electrical steel (GOES) saw little change in its price on Tuesday at $2,921 per short ton.

The Renewables MMI® collects and weights 8 metal price points used extensively within the renewable energy industry to provide a unique view into renewable energy metal price trends. For more information on the Renewables MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

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