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Cameroon Renewable Energy Industry Analysis
Renewable energy has been gaining momentum in Cameroon as the country looks to diversify its energy mix and increase energy security. Currently, the country's electricity sector is dominated by hydropower, which accounts for about 90% of the total installed capacity. However, the government is aiming to increase the share of other renewable energy sources, such as solar, wind, and biomass, to meet the growing demand for electricity.
One of the major drivers for renewable energy projects in Cameroon is the country's growing energy demand. With a rapidly increasing population and economic growth, the demand for electricity is expected to double by 2035. In addition, the government has set a target to achieve universal access to electricity by 2030, which will require significant investments in the energy sector.
Another driver is the high potential for renewable energy resources in Cameroon. The country has abundant sunshine throughout the year, especially in the northern regions, which makes it an ideal location for solar energy projects. Cameroon also has a vast potential for wind energy, particularly in the coastal areas, and biomass potential from agricultural waste and forestry residues.
The government has been taking steps to support the development of renewable energy projects in Cameroon. In 2011, the government launched the Renewable Energy and Energy Efficiency Program (REEEP), which aims to promote the deployment of renewable energy technologies and increase energy efficiency in the country. The program provides support for project development, financing, and technical assistance.
In terms of industry outlook, there is significant potential for the growth of renewable energy in Cameroon. The government has set a target to increase the share of renewable energy in the total electricity mix to 25% by 2035, which will require significant investment in renewable energy projects. In addition, the country's National Development Plan includes ambitious targets for the development of renewable energy, which is expected to attract both domestic and foreign investments in the sector.
Overall, the renewable energy industry in Cameroon is still in its nascent stage, but with the growing energy demand and the government's commitment to increase the share of renewable energy, there is significant potential for the industry to grow and play a key role in the country's energy mix.
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