The lending was a result of a pan-European commitment to generate more electricity from renewable energy sources and to better exploit mature hydropower technology.
In addition to creating new growth opportunities, this has had the effect of generating a thriving market for refurbishment projects that improve efficiency and reduce environmental impact, the analyst says. Consequently, the refurbishment and servicing market now offers manifold growth opportunities for original equipment manufacturers, services companies, and hydropower producers.
"The European Hydropower market has traditionally been viewed as a mature market with few opportunities and five years ago, maybe that perception was not so far off. However new opportunities for both new projects and refurbishment work are quickly undermining this perception,” says Frost & Sullivan’s Energy & Power Systems Consultant Jonathan Robinson.
“Despite a short-term decline in electricity demand, the longer-term trend is upward as hydropower provides a cost-effective, carbon-free, electricity source."
Zeinegul Hassan, Research Analyst from the Energy & Power Systems Group, adds: "The key hydropower markets are also markets where economic and electricity growth is forecast to be strongest in the next decade: Albania, Croatia and Turkey. These markets offer exciting prospects, both for established players and for smaller participants.”
In an online analyst briefing presentation on 24 February, 2010, Frost & Sullivan will give an overview of the large hydropower market in Europe and its potential, an analysis of the hydropower refurbishment and services market, and a review of the numerous growth opportunities in the large hydropower market.