Africa is a concentrated growth area of off-grid power storage system, and it is expected that the African off-grid power storage system market will usher in vigorous development in the next five years. In fact, the African PV market is naturally attractive. The region is rich in solar energy resources, 3/4 of the land can receive vertical sunlight. The availability of solar power generation is very high and the potential is huge.
It is understood that the current level of electricity development in Africa is low. According to data, the electricity consumption per capita is only 200 kWh. And many countries are even lower than 100 kWh. About 600 million people are still without electricity. Large-scale photovoltaic ground-based power stations can supplement the insufficient power supply of the local grid, and off-grid power storage system can break the shackles of no power facilities and support local basic domestic electricity. In addition, off-grid power storage system can also serve small and medium-sized enterprises.
In fact, the development of renewable energy is becoming a trend in Africa. The photovoltaic market is most promising in northern Africa and southern Africa. Many countries have introduced relevant policies to encourage the development of clean energy. For example, Egypt and Kenya focus on the development of new energy industries and encourage investment in public-private partnerships; foreign companies are encouraged to invest in photovoltaic energy fields; the Nigerian government is currently committed to promoting the privatization reform of power companies, which is very attractive in terms of investment incentives. Kenya, Tanzania and Ethiopia together account for more than 60% of the off-grid photovoltaic market share in sub-Saharan Africa. Among them, more than 30% of Kenya's population use off-grid photovoltaic products.
In 2022, Corigy has provided more than 3MW of off-grid systems for many countries on the African continent, such as Sierra Leone, Ghana, Congo, Nigeria, Kenya, etc. In 2021, we seek to partner with more and more companies to provide our off-grid system on the African continent.