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Cuba Overhead Cable Industry Analysis
Cuba's overhead lines/cables construction projects industry is currently facing challenges due to the country's economic situation, which has caused delays and disruptions in several infrastructure projects, including those related to power transmission and distribution. The industry is dominated by the state-owned company Uni?n El?ctrica (UNE), which is responsible for the development and maintenance of the country's power grid. However, in recent years, UNE has been facing financial constraints, resulting in a decrease in investment in the power sector. This has led to a lack of modernization of the power grid, resulting in an increase in power outages and a reduction in the quality of power supply.
Major Drivers:
One of the major drivers of the overhead lines/cables construction projects industry in Cuba is the need to modernize the country's power grid. The existing power infrastructure is outdated and requires significant investment to improve the quality and reliability of power supply. Another driver is the need to expand the power grid to meet the growing demand for electricity in the country. With the increasing use of electronic devices and appliances, the demand for electricity is rising steadily. Additionally, the government's emphasis on renewable energy and reducing dependence on fossil fuels is expected to drive the demand for overhead lines/cables construction projects in Cuba.
Industry Outlook:
The overhead lines/cables construction projects industry in Cuba is expected to grow in the coming years, driven by the government's efforts to modernize the power grid and expand the country's power infrastructure. The Cuban government has set a target to increase the share of renewable energy in the country's energy mix to 24% by 2030, which is expected to drive the demand for power transmission and distribution projects. The industry is expected to witness the entry of new players, including foreign companies, as the Cuban government has opened up several sectors of the economy to foreign investment. However, the industry's growth may be affected by the country's economic situation, which may lead to delays and disruptions in infrastructure projects.
Local References:
In December 2020, the Cuban government announced plans to invest USD 3.9 billion in the country's power sector over the next ten years to modernize the power grid and increase the use of renewable energy sources.
In September 2021, UNE signed an agreement with the Russian company Inter RAO Export to modernize the Cienfuegos thermal power plant and expand the country's power infrastructure.
In November 2021, the Cuban government signed a memorandum of understanding with the French company EDF to explore opportunities for cooperation in the renewable energy sector, including wind and solar power projects.
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