gdpe0683icr peru power market outlook to 2030 …reference code gdpe0683icr | publication date...

REFERENCE CODE GDPE0683ICR | PUBLICATION DATE AUGUST 2013

PERU POWER MARKET OUTLOOK TO 2030 - MARKET TRENDS, REGULATIONS AND

COMPETITIVE LANDSCAPE

Peru Power Market Outlook to 2030 - Market Trends, Regulations and Competitive Landscape 2 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.



Executive Summary

Thermal Capacity Dominates Power Mix

Power generation capacity in Peru is currently

dominated by thermal power, which accounted for

a XX% share of the country’s cumulative installed

capacity in 2012. Gas-fired power plants

dominated the country’s thermal installed capacity

that year, with an XX% share. Thermal capacity

increased from XX Gigawatts (GW) in 2000 to XX

GW in 2012, at a Compound Annual Growth Rate

(CAGR) of XX%.

To meet increasing demand for electricity and

ensure the reliable supply of power, the

government will continue to augment its thermal

installed capacity. However the share of thermal

capacity in Peru is expected to decrease in the

future, and be replaced by renewable capacity.

Power Market, Peru, Thermal Installed Capacity (GW), 2000–2012

2000 2006 2012

Ther

mal

inst

alle

d ca

paci

ty (G

W)

Source: GlobalData, Power eTrack, Capacity and Generation Database [Accessed on: July 18, 2013]

Continued Growth in Power Generation

Power generation in Peru increased from XX

Terawatt hours (TWh) in 2000, to XX TWh in 2012,

at a CAGR of XX%. During the period from 2013 to

2030, power generation is expected to increase in

order to satisfy the steadily increasing demand for

electricity. This increased power demand can be

attributed to economic growth, increasing

industrialization, and increased population size.

Power Market, Peru, Annual Power Generation (TWh), 2000–2012

2000 2006 2012

Annu

al p

ower

gen

erat

ion

(TW

h)

Source: GlobalData, Power eTrack, Capacity and Generation Database [Accessed on: July 18, 2013]




Table of Contents

1 Table of Contents

1 Table of Contents .......................................................................................................................... 4

1.1 List of Tables............................................................................................................................ 8

1.2 List of Figures ........................................................................................................................ 10

2 Introduction ................................................................................................................................. 11

2.1 GlobalData Report Guidance ................................................................................................. 12

3 Peru, Power Market, Snapshot .................................................................................................... 13

3.1 Macro Economic Factors........................................................................................................ 13

3.2 Supply Security ...................................................................................................................... 16

3.3 Generation Infrastructure ....................................................................................................... 16

3.4 Transmission Infrastructure .................................................................................................... 17

3.5 Opportunities.......................................................................................................................... 17

3.6 Challenges ............................................................................................................................. 18

4 Peru, Power Market, Market Analysis .......................................................................................... 19

4.1 Peru, Power Market, Supply Structure ................................................................................... 19

4.2 Peru, Power Market, Key Players ........................................................................................... 19

4.2.1 Financial Performance .................................................................................................... 21

4.2.2 Key Financial Ratios and Inference ................................................................................ 21

4.3 Peru, Power Market, Financial Deals ..................................................................................... 24

4.3.1 Deals, Split by Type, 2012 .............................................................................................. 25

4.4 Peru, Power Market, Demand Structure ................................................................................. 26

4.4.1 Power Market, Peru, Power Consumption by Sector, 2012 ............................................. 28




Table of Contents

5 Peru, Power Market, Regulatory Scenario ................................................................................... 29

5.1 Peru Power Market, Electricity Structure Background ............................................................ 29

5.2 Peru, Power Market, Electricity Sector Reform ....................................................................... 29

5.3 Peru, Power Market, Rural Electrification ............................................................................... 30

5.3.1 Master Plan for Rural Electrification by Renewable Energy in the Republic of Peru, 2008

....................................................................................................................................... 30

5.4 Peru, Power Market, Renewable Energy Development .......................................................... 31

5.5 Peru, Power Market, Energy Efficiency Development ............................................................ 31

6 Peru, Power Market, Capacity and Generation Overview ............................................................ 32

6.1 Installed Capacity, Breakdown by Type of Power Plant, 2012 ................................................ 32

6.2 Cumulative Installed Capacity and Annual Generation, 2000–2030 ....................................... 33

6.3 Thermal, Installed Capacity and Generation, 2000–2030 ....................................................... 36

6.4 Hydropower, Installed Capacity and Generation, 2000–2030 ................................................. 40

6.5 Renewable Power, Installed Capacity and Generation, 2000–2030 ....................................... 44

7 Peru, Power Market, Transmission and Distribution Overview ..................................................... 48

7.1 Peru, Power Market, Transmission Network Overview ........................................................... 48

7.1.1 Peru, Power Market, Transmission Network Development ............................................. 50

7.2 Peru, Power Market, Distribution Network Overview .............................................................. 50

7.3 Peru, Power Market, Grid Interconnections ............................................................................ 51

7.4 Peru, Power Market, Electricity Trade .................................................................................... 51

8 Peru, Power Market, Competitive Landscape: Snapshot of Top Power Companies .................... 52

8.1 Key Companies in the Peru’s Power Market, Edegel S.A. ...................................................... 52

8.1.1 Edegel S.A., Company Overview .................................................................................... 52




Table of Contents

8.1.2 Edegel S.A, Business Description ................................................................................... 52

8.1.3 Edegel S.A, SWOT Analysis ........................................................................................... 53

8.2 Key Companies in the Peru’s Power Market, Enersur. ........................................................... 56

8.2.1 Enersur, Company Overview .......................................................................................... 56

8.2.2 Enersur, Business Description ........................................................................................ 56

8.2.3 Enersur, SWOT Analysis ................................................................................................ 57

8.3 Key Companies in the Peru’s Power Market, Kallpa Generacion S.A. .................................... 60

8.3.1 Kallpa Generacion S.A., Company Overview .................................................................. 60

8.3.2 Kallpa Generacion S.A., Business Description ................................................................ 60

8.3.3 Kallpa Generacion S.A., SWOT Analysis ........................................................................ 61

8.4 Key Companies in the Peru’s Power Market, Empresa Electricidad del Peru - Electroperu S.A .

....................................................................................................................................... 64

8.4.1 Empresa Electricidad del Peru - Electroperu S.A, Company Overview ........................... 64

8.4.2 Empresa Electricidad del Peru - Electroperu S.A, Business Description ......................... 64

8.4.3 Empresa Electricidad del Peru - Electroperu S.A, SWOT Analysis ................................. 65

8.5 Peru, Power Market, Key Company, Duke Energy Corporation .............................................. 68

8.5.1 Duke Energy Corporation, Company Overview ............................................................... 68

8.5.2 Duke Energy Business Description ................................................................................. 68

8.5.3 Duke Energy Corporation SWOT Analysis ...................................................................... 69

9 Appendix ..................................................................................................................................... 73

9.1 Market Definitions .................................................................................................................. 73

9.1.1 Power ............................................................................................................................. 73

9.1.2 Installed Capacity ........................................................................................................... 73




Table of Contents

9.1.3 Active Installed Capacity ................................................................................................. 73

9.1.4 Electricity Generation ...................................................................................................... 73

9.1.5 Electricity Consumption .................................................................................................. 73

9.1.6 Thermal Power Plant ...................................................................................................... 73

9.1.7 Hydropower Plant ........................................................................................................... 74

9.1.8 Nuclear Power ................................................................................................................ 74

9.1.9 Renewable Energy Resources........................................................................................ 74

9.2 Abbreviations ......................................................................................................................... 74

9.3 Bibliography ........................................................................................................................... 75

9.4 GlobalData’s Methodology ..................................................................................................... 76

9.4.1 Coverage ........................................................................................................................ 77

9.4.2 Secondary research and analysis ................................................................................... 77

9.4.3 Primary Research and Analysis ...................................................................................... 78

9.5 Disclaimer .............................................................................................................................. 78




Table of Contents

1.1 List of Tables

Table 1: Power Market, Peru, Trends in GDP at constant prices ($bn), Population (million) and Annual

Power Consumption (TWh), 2007–2017 ....................................................................................... 15

Table 2: Power Market, Peru, Leading Power Generating Companies (%), 2012 ........................................ 20

Table 3: Power Market, Peru, Key Financial Ratios, 2012 .......................................................................... 23

Table 4: Power Market, Peru, Deal Value ($m) and Deal Volume, 2004–2012 ............................................ 25

Table 5: Power Market, Peru, Annual Power Consumption (TWh), 2000–2030 ........................................... 27

Table 6: Power Market, Peru, Estimated Consumption by Sector (%), 2012 ............................................... 28

Table 7: Power Market, Peru, Cumulative Installed Capacity by Type of Power Plant (%), 2012 ................. 32

Table 8: Power Market, Peru, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh),

2000–2030 ................................................................................................................................... 35

Table 9: Power Market, Peru, Leading Active Thermal Power Plants (MW), 2012 ....................................... 36

Table 10: Power Market, Peru, Leading Upcoming Thermal Power Plants (MW), 2012 ................................. 37

Table 11: Power Market, Peru, Cumulative Thermal Installed Capacity (GW) and Annual Thermal Power

Generation (TWh), 2000–2030 ..................................................................................................... 39

Table 12: Power Market, Peru, Leading Active Hydro Power Plants (MW), 2012 .......................................... 40

Table 13: Power Market, Peru, Leading Upcoming Hydropower Plants (MW), 2012 ..................................... 41

Table 14: Power Market, Peru, Cumulative Hydropower Installed Capacity (GW) and Annual Hydropower

Generation (GWh), 2000–2030 ..................................................................................................... 43

Table 15: Power Market, Peru, Leading Active Renewable Power Plants (MW), 2012 .................................. 44

Table 16: Power Market, Peru, Leading Upcoming Renewable Power Plants (MW), 2012 ............................ 45

Table 17: Power Market, Peru, Cumulative Renewable Installed Capacity (GW) and Annual Renewable

Power Generation (TWh), 2000–2030 .......................................................................................... 47

Table 18: Power Market, Peru, Transmission Line Length (Ckm), 2000–2020 .............................................. 49

Table 19: Edegel S.A., SWOT Analysis ........................................................................................................ 53

Table 20: Enersur, SWOT Analysis .............................................................................................................. 57




Table of Contents

Table 21: Kallpa Generacion S.A ., SWOT Analysis ..................................................................................... 61

Table 22: Empresa Electricidad del Peru - Electroperu S.A., SWOT Analysis ............................................... 65

Table 23: Duke Energy Corporation, SWOT Analysis ................................................................................... 69

Table 24: Abbreviations ............................................................................................................................... 74




Table of Contents

1.2 List of Figures

Figure 1: Power Market, Peru, Trends in GDP at constant prices($bn), Population (million) and Annual Power Consumption (TWh), 2007–2017 ...................................................................................... 14

Figure 2: Power Market, Peru, Leading Power Generating Companies (%), 2012 ...................................... 20

Figure 3: Power Market, Peru, Deal Value ($m) and Deal Volume, 2004–2012 .......................................... 24

Figure 4: Power Market, Peru, Annual Power Consumption (TWh), 2000–2030 ......................................... 26

Figure 5: Power Market, Peru, Estimated Consumption by Sector (%), 2012 .............................................. 28

Figure 6: Power Market, Peru, Cumulative Installed Capacity by Type of Power Plant (%), 2012 ................ 32

Figure 7: Power Market, Peru, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh), 2000–2030 ...................................................................................................................... 34

Figure 8: Power Market, Peru, Cumulative Thermal Installed Capacity (GW) and Annual Thermal Power Generation (TWh), 2000–2030 .................................................................................................... 38

Figure 9: Power Market, Peru, Cumulative Hydropower Installed Capacity (GW) and Annual Hydropower Generation (TWh), 2000–2030 .................................................................................................... 42

Figure 10: Power Market, Peru, Cumulative Renewable Installed Capacity (GW) and Annual Renewable Power Generation (TWh), 2000–2030 ......................................................................................... 46




Introduction

2 Introduction

Peru is a developing country with a liberalized economy. The country has a republican form of

government, with a multi-party system in place. It is a member of international organizations such

as G-24, Union Latina, the United Nations (UN) and the United Nations Conference on Trade and

Development.

The country attracts a large amount of Foreign Direct Investment (FDI). In 2012 Peru’s FDI inflow

increased by XX% when compared with 2011 (Andina, 2013a). This growth is the highest in the

Latin American region. The country also became the fifth-largest FDI recipient in Latin America

during 2012. Furthermore, FDI inflow in Peru during the first quarter of 2013 amounted to $XX

billion, which demonstrating an increase of XX% in comparison to the same period in the previous

year (Andina, 2013b). This steady growth in FDI can be attributed to the favorable business

environment in Peru.

The Peruvian government’s primary objective during the 1990s was to create a political

environment that promoted private investment. In order to achieve this goal, various policy

initiatives were launched. Peru also signed a number of trade agreements to improve its

international trade. In April 2006, Peru signed the US–Peru Trade Promotion Agreement with the

US. The agreement has since been ratified several times by both governments, and was

implemented in February 2009 after the Peruvian government incorporated changes related to

environmental and intellectual property laws. Peru is also involved in trade agreements with Chile,

Mexico, Canada, Singapore, China, the European Union, Japan, South Korea, and the European

Free Trade Association. Furthermore, Peru is a leading member of the World Trade Organization,

the Asia-Pacific Economic Co-operation forum, the UN, and the Andean Community.

Peru’s Gross Domestic Product (GDP) amounted to $XX billion – at current prices – in 2012,

indicating a GDP growth rate of XX% compared with the previous year. The service sector was

estimated XX% share towards GDP in 2012, followed by the industrial sector with XX% and the

agricultural sector with XX%. Peru’s economy was not seriously affected by the global recession,

recording a positive growth rate of XX% even in the wake of the economic downturn. This was

achieved as a result of the country’s strong macro-economic scenario.




Introduction

The Ministry of Energy and Mines (MEM) is the apex body responsible for regulating and

supervising the energy and mining sectors. The Supervisor of Investment in Energy and Mining

(Osinergmin) oversees and regulates the activities of the power and mining sectors. In response to

increasing concerns regarding the adverse environmental impact of green house gas emissions,

the government has shifted its focus from gas-fired power generation to the development of

hydropower plants. Moreover, Peru is likely to emerge as an exporter of natural gas in the future,

meaning that it is probable that gas will be used for export purposes rather than for power

generation. In May 2008, the Peruvian government also passed Legislative Decree 1002, which

promotes investment in renewable power generation.

2.1 GlobalData Report Guidance

The report opens with an executive summary capturing key growth trends in Peru’s power

market.

Chapter three provides a snapshot of Peru’s power sector.

Chapter four provides cumulative capacity and power generation information, as well as

segmentation according to source of energy from 2000 to 2012, with forecasts provided up

until 2030. This is followed by the consumption scenario for the market between 2000 and

2012, with forecasts provided up until 2030.

Chapter five provides information about the power infrastructure in Peru, including details of

leading active and upcoming power plants in the country, existing and planned developments

in transmission and distribution infrastructure, and cross-country interconnections.

Chapter six provides information on regulatory structure and provides a brief description of the

power regulatory structure and prominent policies influencing the future of the power market.

Chapter seven describes the competitive landscape of Peru’s power generation market, with

complete descriptions and SWOT analysis provided for leading companies.

Note: from 2012 onwards the report provides actual or estimated data depending upon the

information available at the time of writing the report.




Peru, Power Market, Market Analysis

4.4 Peru, Power Market, Demand Structure

Peru’s steady economic growth, improved standard of living, and increased industrial development

has led to growth in the consumption of electricity. Electricity consumption in Peru was XX Terawatt

Hours (TWh) in 2012, compared with XX TWh in 2000. During this period, consumption increased

at an estimated CAGR of XX%. During the forecast period from 2013 to 2030, electricity

consumption is expected to increase at a CAGR of XX%, from XX TWh to XX TWh.

Figure 4: Power Market, Peru, Annual Power Consumption (TWh), 2000–2030

2000

2002

2004

2006

2008

2010

2012

2014

2016

2018

2020

2022

2024

2026

2028

2030

Ann

ual p

ower

con

sum

ptio

n (T

Wh)

Source: GlobalData, Power eTrack, Consumption Database [Accessed on July 18, 2013]





Table 5: Power Market, Peru, Annual Power Consumption (TWh), 2000–2030

Year Consumption (TWh)

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

Source: GlobalData, Power eTrack, Consumption Database [Accessed on July 18, 2013]





4.4.1 Power Market, Peru, Power Consumption by Sector, 2012

The industrial sector is estimated to have accounted for the highest share of total electricity

consumption in 2012, with XX%. The residential sector accounted for the next highest share of total

electricity consumption, at an estimated XX%, and the commercial sector had a share of XX%.

Figure 5: Power Market, Peru, Estimated Consumption by Sector (%), 2012

Industrial

Residential

Commercial

Street lighting

Source: GlobalData

Table 6: Power Market, Peru, Estimated Consumption by Sector (%), 2012

Sectors Percentage (%)

Industrial

Residential

Commercial

Street lighting

Source: GlobalData




Appendix

9 Appendix

9.1 Market Definitions

The geographical coverage of this report is Peru. The report covers market segments related to

installed electricity capacity, generation, consumption, and power infrastructure and regulations.

The report covers the whole of Peru for a quantitative and qualitative assessment of its power

market.

9.1.1 Power

The rate of production, transfer, or energy use, usually related to electricity. Measured in watts and

often expressed in kilowatts (kW) or Megawatts (MW), it is also known as real or active power.

9.1.2 Installed Capacity

Installed capacity refers to the generator’s nameplate capacity as stated by the manufacturer or the

maximum rated output of a generator under given conditions. Installed capacity is given in

Megawatts (MW) on a nameplate physically fixed on the generator.

9.1.3 Active Installed Capacity

Active installed capacity refers to that component of electric power that actually performs work. It is

given in kilowatts (kW), Megawatts (MW) or Gigawatt (GW).

9.1.4 Electricity Generation

The production of electric energy is achieved through the transformation of other forms of energy.

The figure also refers to the amount of electric energy produced, expressed in Gigawatt hours

(GWh) or Terawatt Hour (TWh).

9.1.5 Electricity Consumption

Consumption of electricity calculated as generation, plus imports, minus exports, minus

transmission and distribution losses and measured in Gigawatt hours (GWh).

9.1.6 Thermal Power Plant

A plant in which turbine generators are driven by burning fossil fuels.




Appendix

9.1.7 Hydropower Plant

A plant in which turbine generators are driven by falling water.

9.1.8 Nuclear Power

The electricity generated by the use of the thermal energy released from the fission of nuclear fuel

in a reactor.

9.1.9 Renewable Energy Resources

Naturally replenishing energy resources limited in the amount of energy available per unit of time.

For example, biomass, geothermal, solar, and wind can all be termed renewable.

9.2 Abbreviations

Table 24: Abbreviations

Full Form Abbreviations

Compound Annual Growth Rate CAGR

Combined Cycle Gas Turbine CCGT

Circuit kilometres Ckm

Committee of Economic Operation System COES

Empresa Electricidad del Peru Electroperu

Foreign Direct Investment FDI

Gross Domestic Product GDP

Gigawatt GW

kilovolt kV

Liquefied Natural Gas LNG

Ministry of Energy and Mines MEM

Megawatt MW

Photovoltaic PV

Sistema Eléctrico Interconectado Nacional SEIN

trillion cubic feet tcf

Terawatt Hours TWh

United Nations UN

Source: GlobalData




Appendix

9.3 Bibliography

Abengoa (2013). Abengoa will carry out a new electricity transmission project in Peru.

Abengoa, February 22, 2013. Available from:

http://www.abengoa.com/web/en/noticias_y_publicaciones/noticias/historico/2013/02_febrero/a

bg_20130222_2.html [Accessed on: July 20, 2013]

Anaya K (2010). Restructuring and Privatization of the Peruvian Electricity Distribution Market.

University of Cambridge. Available from:

http://www.dspace.cam.ac.uk/bitstream/1810/229421/2/1017%26EPRG1009.pdf

Andina (2013a). Peru records highest LaTAm FDI-growth, ECLAC says. Andina, May 15,

2013. Available from: http://www.andina.com.pe/Ingles/noticia-peru-records-highest-latam-

fdigrowth-eclac-says-458653.aspx [Accessed on: July 20, 2013]

Andina (2013b). Foreign direct investment in Peru totaled US$4.1bln in 1Q2013. Andina, June

9, 2013. Available from: http://www.andina.com.pe/Ingles/noticia-foreign-direct-investment-in-

peru-totaled-41bln-in-1q2013-461868.aspx [Accessed on: July 20, 2013]

Andina (2013c). Peru January-September power sector investment brushes US$2bn. Andina,

January, 1, 2013. Available from: http://www.andina.com.pe/english/noticia-peru-

januaryseptember-power-sector-investment-brushes-2bn-441754.aspx [Accessed on: July 20,

2013]

COES (2013). COES: Who are we? Committee of Economic Operation System. Available

from: http://www.coes.org.pe/wcoes/coes/organizacion/qsomos.aspx [Accessed on July 20,

2012]

EIA (2012). Peru- Country Analysis. US Energy Information Administration. Available from:

http://www.eia.gov/countries/cab.cfm?fips=PE [Accessed on July 20, 2012]

IMF (2013). World Economic Outlook Database – October 2012 – Poland [database].

International Monetary Fund. Available from:

http://www.imf.org/external/pubs/ft/weo/2012/02/weodata/index.aspx [Accessed on: July 20,

2013]




Appendix

Maurer L et al (2011). Electricity Auctions: An Overview of Efficient Practices. Available from

http://books.google.co.in/books?id=nb-sYRgbVv0C&pg=PA48&lpg=PA48&dq= [Accessed on

July 20, 2013].

Osinergmin (2013). Information Institutional. Osinergmin. Available from:

http://www.osinerg.gob.pe/ [Accessed on July 20, 2013]

Reuters (2013). UPDATE 1-Corsan-Corviam to build $600 mln hydroelectric plant in Peru.

Reuters, March 21, 2013. Available from: http://www.reuters.com/article/2013/03/21/peru-

construction-hydroelectric-idUSL1N0CD87K20130321 [Accessed on: July 20, 2013]

The Guardian (2013). Enabling access to electricity in rural Peru. The Guardian, June 21,

2013. Available from: http://www.guardian.co.uk/sustainable-business/enabling-access-

electricity-peru. [Accessed on: July 20, 2013]

UPI (2013). Peru upbeat about boosting natural gas exports. United Press International, May

13, 2013.Available from: http://www.upi.com/Business_News/Energy-

Resources/2013/05/13/Peru-upbeat-about-boosting-natural-gas-exports/UPI-96291368473657/

[Accessed on: July 16, 2013]

World Bank (2012). The Worldwide Governance Indicators, 2012 Update. The World Bank

Group. Available from: http://info.worldbank.org/governance/wgi/pdf/wgidataset.xlsx [Accessed

on: July 20, 2013]

World Bank (2013). Doing Business–Economy Rankings. The World Bank. Available from:

http://www.doingbusiness.org/data/exploreeconomies/poland/ [Accessed on: July 20, 2013]

9.4 GlobalData’s Methodology

GlobalData’s dedicated research and analysis teams consist of experienced professionals with

backgrounds in marketing, market research and consulting in the power industry, and advanced

statistical expertise.

GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and

the Strategic and Competitive Intelligence Professionals (www.scip.org) .




Appendix

The following research methodology is followed for all country outlook reports.

9.4.1 Coverage

This report gives detailed information on Peru’s power market. It examines the country’s power

market structure and provides historical and forecast numbers for generation, capacity and

consumption up to 2030. The report provides insights on the market’s regulatory structure, import

and export trends, competitive landscape and leading active and upcoming power projects. The

report also provides snapshot of the country’s power sector by analyzing its power sector on broad

parameters of macroeconomics, supply security, generation infrastructure, transmission

infrastructure, degree of competition, regulatory scenario and future potential

9.4.2 Secondary research and analysis

The capacity, generation and consumption data is collected and validated using a number of

secondary resources including but not limited to:

Government agencies, ministerial websites, industry associations, the World Bank, statistical

databases

Company websites, annual reports, financial reports, broker reports and investor presentations

Industry trade journals, market reports and other literature

GlobalData’s proprietary databases like the Capacity and Generation Database, Power Plant

Database and Transmission and Distribution Database.

Further to this, the following secondary information is collected and analyzed to project the

country’s power market scenario through to 2030, analyzing factors such as the following:

The country’s macro-economic scenario

Government regulations, policies and targets

Government and private sector investments

Contract and deal announcements

Utility expansion plans

The sector’s historic track record




Appendix

Other qualitative insights built through secondary research and analysis of company websites,

annual reports, investor presentations, industry and trade journals, and data from industry

associations.

9.4.3 Primary Research and Analysis

Secondary research is further complemented through primary interviews with industry participants

to verify and fine-tune the market numbers obtained through secondary research and get first-hand

information on industry trends.

The participants are drawn from a diverse set of backgrounds, including equipment manufacturers,

industry associations, government bodies, utilities, distributors, and academia. The participants

include, but are not limited to, C-level executives, industry consultants, academic experts, business

development and sales managers, purchasing managers, plant managers, government officials,

and industry spokespeople.

9.5 Disclaimer

All Rights Reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any

form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior

permission of the publisher, GlobalData.

This report is a licensed product and should not to be reproduced without prior permission.

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