Hydropower (Large Hydro, Small Hydro and Pumped Storage)

Hydropower (Large Hydro, Small
Hydro and Pumped Storage)

Global Market Size, Segmentation, Investment
Trends, Regulations and Key Country Analysis to
2025
Power
Report Code: GDAE1204MAR

Published: March 2017
Hydropower (Large Hydro, Small Hydro and Pumped Storage) –
Global Market Size, Segmentation, Investment Trends, Regulations and Key Country Analysis to 2025
Reference Code: GDAE1204MAR
Published: March 2017 Power
1 Table of Contents
1 Table of Contents ........................................................................................................................................ 2
1.1 List of Tables ............................................................................................................................................................... 11
1.2 List of Figures ............................................................................................................................................................ 14
2 Executive Summary................................................................................................................................... 18
2.1 Commitments Made at COP22 to Boost Hydropower Capacity Additions.................................................... 18
2.2 Large Hydro was the Major Contributor in the Growth of Hydropower Market ........................................... 18
2.3 Asia-Pacific Region Contributed Substantial Hydropower Capacity Additions in 2016 .............................19
2.4 China is the largest market in terms of cumulative and annual capacity additions ................................... 20
2.5 Global Hydropower Investment is Set to Reach $86.2 billion by 2025.......................................................... 22
3 Introduction ............................................................................................................................................... 23
3.1 GlobalData Report Guidance ................................................................................................................................... 24
4 Hydropower Market, Global ...................................................................................................................... 27
4.1 Hydropower Market, Global, Overview .................................................................................................................. 27
4.2 Hydropower Market, Global, Installed Capacity, 2006–2025........................................................................... 28
4.3 Hydropower Market, Global, Installed Capacity, By Type, 2006–2025 .......................................................... 30
4.3.1 Hydropower Market, Global, Cumulative Installed Capacity, By Type, 2006–2025 ............................. 30
4.3.2 Hydropower Market, Global, Annual Installed Capacity, By Type, 2006–2025 ..................................... 33
4.4 Hydropower Market, Global, Hydropower Generation, 2006–2025................................................................ 35
4.4.1 Hydropower Market, Global, Generation, By Type, 2006–2025 ............................................................... 37
4.5 Hydropower Market, Global, Market Size ($bn), 2006–2025 ........................................................................... 39
4.6 Hydropower Market, Global, Investment Trends, 2016 ..................................................................................... 41
Hydropower Market, Global, Deal Volume vs. Deal Value, 2006–2016.................................................................. 41
4.6.1 Hydropower Market, Global, Split, by Deal Type, 2016 ............................................................................... 42
4.7 Hydropower Market, Global, Drivers ...................................................................................................................... 43
4.7.1 Policies and Concerns for Clean Energy Generation .................................................................................. 43
4.7.2 Cross-Border Interconnection Could Facilitate Hydropower Generation .............................................. 43
4.7.3 Increasing Power Demand ............................................................................................................................... 44
4.7.4 Lower Operation and Maintenance Cost ....................................................................................................... 44
4.8 Hydropower Market, Global, Challenges ............................................................................................................... 44
4.8.1 Huge Project Cost .............................................................................................................................................. 44
4.8.2 Issues Related to Slow Pace of Hydro Capacity Addition ......................................................................... 44
4.8.3 Environmental Impact ....................................................................................................................................... 45
5 Hydropower Market, North America ....................................................................................................... 46
5.1 Hydropower Market, North America, Overview ................................................................................................... 46
5.2 Hydropower Market, North America, Installed Capacity, 2006–2025 ........................................................... 47
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© GlobalData 2017. This product is licensed and is not to be photocopied.
5.3 Hydropower Market, North America, Installed Capacity, By Type, 2006–2025........................................... 49

5.3.1 Hydropower Market, North America, Cumulative Installed Capacity, By Type, 2006–2025.............. 49
5.3.2 Hydropower Market, North America, Annual Installed Capacity, By Type, 2006–2025 .......................51
5.4 Hydropower Market, North America, Hydropower Generation, 2006–2025 ................................................ 53
5.4.1 Hydropower Market, North America, Generation, By Type, 2006–2025 ................................................ 55
5.5 Hydropower Market, North America, Market Size ($bn), 2006–2025 ............................................................ 57
6 Hydropower Market, US ............................................................................................................................ 59
6.1 Hydropower Market, US, Overview ........................................................................................................................ 59
6.2 Hydropower Market, US, Installed Capacity, 2006–2025 ................................................................................. 60
6.3 Hydropower Market, US, Installed Capacity, By Type, 2006–2025 ................................................................ 62
6.3.1 Hydropower Market, US, Cumulative Installed Capacity, By Type, 2006–2025 ................................... 62
6.3.2 Hydropower Market, US, Annual Installed Capacity, By Type, 2006–2025 ........................................... 64
6.4 Hydropower Market, US, Hydropower Generation, 2006–2025 ...................................................................... 66
6.4.1 Hydropower Market, US, Hydropower Generation, By Type, 2006–2025 .............................................. 68
6.5 Hydropower Market, US, Market Size ($bn), 2006–2025 .................................................................................. 70
6.6 Hydropower Market, US, Major Tenders, 2016 .................................................................................................... 72
6.7 Hydropower Market, US, Major Contracts, 2016 ................................................................................................. 73
6.8 Hydropower Market, US, Major Active Plants, 2016 ........................................................................................... 74
6.9 Hydropower Market, US, Major Upcoming Plants, 2017–2025 ........................................................................ 74
6.10 Hydropower Market, US, Investment Trends, 2016 ........................................................................................... 74
6.10.1 Hydropower Market, US, Deal Volume vs. Deal Value, 2006–2016 .......................................................... 74
6.10.2 Hydropower Market, US, Split, by Deal Type, 2016 ..................................................................................... 76
6.11 Hydropower Market, US, Major Policies ................................................................................................................ 76
6.11.1 Water Power Program ....................................................................................................................................... 76
6.11.2 Hydroelectric Production Incentives ............................................................................................................. 77
6.11.3 Hydroelectric Efficiency Improvement ......................................................................................................... 77
6.11.4 Loan Guarantee Program ................................................................................................................................. 77
6.11.5 Production Tax Credits ..................................................................................................................................... 77
6.11.6 Investment Tax Credits..................................................................................................................................... 78
6.11.7 Clean Renewable Energy Bonds ..................................................................................................................... 79
6.11.8 Qualified Energy Conservation Bonds ........................................................................................................... 79
6.11.9 Tax Exempt Financing for Municipalities ......................................................................................................80
6.11.10 State Level Incentives.......................................................................................................................................80
7 Hydropower Market, Canada ....................................................................................................................82
7.1 Hydropower Market, Canada, Overview ............................................................................................................... 82
7.2 Hydropower Market, Canada, Installed Capacity, 2006–2025 ........................................................................ 83
7.3 Hydropower Market, Canada, Installed Capacity, By Type, 2006–2025 ....................................................... 85
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7.3.1 Hydropower Market, Canada, Cumulative Installed Capacity, By Type, 2006–2025 .......................... 85
7.3.2 Hydropower Market, Canada, Annual Installed Capacity, By Type, 2006–2025 .................................. 87
7.4 Hydropower Market, Canada, Hydropower Generation, 2006–2025 ............................................................. 89
7.4.1 Hydropower Market, Canada, Hydropower Generation, By Type, 2006–2025 ......................................91
7.5 Hydropower Market, Canada, Market Size ($bn), 2006–2025 ......................................................................... 93
7.6 Hydropower Market, Canada, Major Tenders, 2015–2016 ................................................................................ 95
7.7 Hydropower Market, Canada, Major Contracts, 2016 ........................................................................................ 96
7.8 Hydropower Market, Canada, Major Active Plants, 2016 .................................................................................. 97
7.9 Hydropower Market, Canada, Major Upcoming Plants, 2017–2024................................................................ 97
7.10 Hydropower Market, Canada, Investment Trends, 2016 ................................................................................... 98
7.10.1 Hydropower Market, Canada, Deal Volume vs. Deal Value, 2006–2016 ................................................. 98
7.10.2 Hydropower Market, Canada, Split, by Deal Type, 2016 ............................................................................. 99
7.11 Hydropower Market, Canada, Major Policies ..................................................................................................... 100
7.11.1 Program of Energy Research and Development (PERD) ......................................................................... 100
7.11.2 Clean Energy Fund........................................................................................................................................... 100
7.11.3 Financial Incentives and Policy Support for Hydropower ....................................................................... 100
7.11.4 Hydropower Policies, British Columbia......................................................................................................... 101
7.11.5 Standing Offer Program.................................................................................................................................. 102
7.11.6 Hydropower Policies, Nova Scotia ................................................................................................................ 102
7.11.7 Hydropower Policies, Quebec ........................................................................................................................ 103
7.11.8 Hydropower Policies, Ontario ........................................................................................................................ 104
8 Hydropower Market, South and Central America ................................................................................ 106
8.1 Hydropower Market, South and Central America, Overview .......................................................................... 106
8.2 Hydropower Market, South and Central America, Installed Capacity, 2006–2025................................... 106
8.3 Hydropower Market, South and Central America, Installed Capacity, By Type, 2006–2025 .................. 108
8.3.1 Hydropower Market, South and Central America, Cumulative Installed Capacity, By Type, 2006–
2025 .................................................................................................................................................................... 108
8.3.2 Hydropower Market, South and Central America, Annual Installed Capacity, By Type, 2006–2025
.............................................................................................................................................................................. 111
8.4 Hydropower Market, South and Central America, Hydropower Generation, 2006–2025 ........................ 113
8.4.1 Hydropower Market, South and Central America, Hydropower Generation, By Type, 2006–2025. 115
8.5 Hydropower Market, South and Central America, Market Size ($bn), 2006–2025 .................................... 117
9 Hydropower Market, Brazil ..................................................................................................................... 119
9.1 Hydropower Market, Brazil, Overview .................................................................................................................. 119
9.2 Hydropower Market, Brazil, Installed Capacity, 2006–2025 .......................................................................... 120
9.3 Hydropower Market, Brazil, Installed Capacity, By Type, 2006–2025 .......................................................... 121
9.3.1 Hydropower Market, Brazil, Cumulative Installed Capacity, By Type, 2006–2025 ............................. 121
9.3.2 Hydropower Market, Brazil, Annual Installed Capacity, By Type, 2006–2025 .................................... 124
4
9.4 Hydropower Market, Brazil, Hydropower Generation, 2006–2025 ............................................................... 126

9.4.1 Hydropower Market, Brazil, Hydropower Generation, By Type, 2006–2025 ....................................... 128
9.5 Hydropower Market, Brazil, Market Size ($bn), 2006–2025........................................................................... 130
9.6 Hydropower Market, Brazil, Tenders and Contracts, 2015–2016 ................................................................... 131
9.7 Hydropower Market, Brazil, Major Active Plants, 2016 .................................................................................... 133
9.8 Hydropower Market, Brazil, Major Upcoming Plants, 2018–2025 ................................................................. 134
9.9 Hydropower Market, Brazil, Investment Trends, 2016 .................................................................................... 135
9.9.1 Hydropower Market, Brazil, Deal Volume vs. Deal Value, 2006–2016 ................................................... 135
9.9.2 Hydropower Market, Brazil, Split, by Deal Type, 2016 .............................................................................. 136
9.10 Hydropower Market, Brazil, Major Policies ......................................................................................................... 137
10 Hydropower Market, Europe ................................................................................................................... 138
10.1 Hydropower Market, Europe, Overview .............................................................................................................. 138
10.2 Hydropower Market, Europe, Installed Capacity, 2006–2025 ....................................................................... 138
10.3 Hydropower Market, Europe, Installed Capacity, By Type, 2006–2025 ...................................................... 140
10.3.1 Hydropower Market, Europe, Cumulative Installed Capacity, By Type, 2006–2025 ......................... 140
10.3.2 Hydropower Market, Europe, Annual Installed Capacity, By Type, 2006–2025 ................................. 142
10.4 Hydropower Market, Europe, Hydropower Generation, 2006–2025 ............................................................ 145
10.4.1 Hydropower Market, Europe, Hydropower Generation, By Type, 2006–2025 .................................... 147
10.5 Hydropower Market, Europe, Market Size ($bn), 2006–2025 ........................................................................ 149
11 Hydropower Market, Norway .................................................................................................................. 151
11.1 Hydropower Market, Norway, Overview .............................................................................................................. 151
11.2 Hydropower Market, Norway, Installed Capacity, 2006–2025 ...................................................................... 152
11.3 Hydropower Market, Norway, Installed Capacity, By Type, 2006–2025 ..................................................... 153
11.3.1 Hydropower Market, Norway, Cumulative Installed Capacity, By Type, 2006–2025 ........................ 153
11.3.2 Hydropower Market, Norway, Annual Installed Capacity, By Type, 2006–2025 ................................ 156
11.4 Hydropower Market, Norway, Hydropower Generation, 2006–2025 ........................................................... 157
11.4.1 Hydropower Market, Norway, Hydropower Generation, By Type, 2006–2025 ................................... 160
11.5 Hydropower Market, Norway, Market Size ($m), 2006–2025 ........................................................................ 162
11.6 Hydropower Market, Norway, Tenders and Contracts, 2016 ......................................................................... 164
11.7 Hydropower Market, Norway, Major Active Plants, 2015–2016 ..................................................................... 165
11.8 Hydropower Market, Norway, Major Upcoming Plants, 2017–2020 ............................................................. 165
11.9 Hydropower Market, Norway, Investment Trends, 2016 ................................................................................. 166
11.9.1 Hydropower Market, Norway, Deal Volume vs. Deal Value, 2006–2016 ............................................... 166
11.9.2 Hydropower Market, Norway, Split, by Deal Type, 2016........................................................................... 167
11.10 Hydropower Market, Norway, Major Policies ..................................................................................................... 168
11.10.1 Master Plan for Hydropower Development ................................................................................................ 168
11.10.2 Energix Program ............................................................................................................................................... 168
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11.10.3 Tax Exemptions for Small Scale Hydropower Plants................................................................................ 169

11.10.4 Energi21 .............................................................................................................................................................. 169
11.10.5 The Energi21 Strategy 2014 ........................................................................................................................... 169
12 Hydropower Market, Turkey ................................................................................................................... 170
12.1 Hydropower Market, Turkey, Overview ............................................................................................................... 170
12.2 Hydropower Market, Turkey, Installed Capacity, 2006–2025 ....................................................................... 170
12.3 Hydropower Market, Turkey, Installed Capacity, By Type, 2006–2025 ........................................................172
12.3.1 Hydropower Market, Turkey, Cumulative Installed Capacity, By Type, 2006–2025 ...........................172
12.3.2 Hydropower Market, Turkey, Annual Installed Capacity, By Type, 2006–2025.................................. 174
12.4 Hydropower Market, Turkey, Generation, 2006–2025 ..................................................................................... 177
12.4.1 Hydropower Market, Turkey, Hydropower Generation, By Type, 2006–2025..................................... 179
12.5 Hydropower Market, Turkey, Market Size ($bn), 2006–2025 ......................................................................... 181
12.6 Hydropower Market, Turkey, Tenders and Contracts, 2015–2016 ................................................................ 183
12.7 Hydropower Market, Turkey, Major Active Plants, 2015–2016 ...................................................................... 184
12.8 Hydropower Market, Turkey, Major Upcoming Plants, 2017–2028 ............................................................... 185
12.9 Hydropower Market, Turkey, Investment Trends, 2016 .................................................................................. 186
12.9.1 Hydropower Market, Turkey, Deal Volume vs. Deal Value, 2006–2016 ................................................ 186
12.9.2 Hydropower Market, Turkey, Split, by Deal Type, 2016 ............................................................................ 187
12.10 Hydropower Market, Turkey, Major Policies ....................................................................................................... 188
12.10.1 Renewable Energy Targets ............................................................................................................................ 188
12.10.2 Climate Investment Funds ............................................................................................................................. 188
12.10.3 The Use of Renewable Energy Resources for the Generation of Electrical Energy (Law No. 5346)
189
13 Hydropower Market, Russian Federation ............................................................................................. 191
13.1 Hydropower Market, Russian Federation, Overview ......................................................................................... 191
13.2 Hydropower Market, Russian Federation, Installed Capacity, 2006–2025................................................. 192
13.3 Hydropower Market, Russian Federation, Installed Capacity, By Type, 2006–2025 ................................ 193
13.3.1 Hydropower Market, Russian Federation, Cumulative Installed Capacity, By Type, 2006–2025 ... 193
13.3.2 Hydropower Market, Russian Federation, Annual Installed Capacity, By Type, 2006–2025 ........... 196
13.4 Hydropower Market, Russian Federation, Hydropower Generation, 2006–2025...................................... 198
13.4.1 Hydropower Market, Russian Federation, Hydropower Generation, By Type, 2006–2025 ............. 200
13.5 Hydropower Market, Russian Federation, Market Size ($bn), 2006–2025 ................................................ 202
13.6 Hydropower Market, Russia Federation, Tenders and Contracts, 2015–2016 .......................................... 204
13.7 Hydropower Market, Russian Federation, Major Active Plants, 2015–2016............................................... 205
13.8 Hydropower Market, Russian Federation, Major Upcoming Plants, 2017–2020 ....................................... 205
13.9 Hydropower Market, Russian Federation, Investment Trends, 2016 .......................................................... 206
13.9.1 Hydropower Market, Russian Federation, Deal Volume vs. Deal Value, 2006–2016 ........................ 206
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13.9.2 Hydropower Market, Russian Federation, Split, by Deal Type, 2016 ..................................................... 207
13.10 Hydropower Market, Russian Federation, Major Policies ............................................................................... 208
13.10.1 Decree No. 449 on the Mechanism for the Promotion of Renewable Energy on the Wholesale
Electricity and Market .................................................................................................................................... 208
13.10.2 Russia Renewable Energy Program ............................................................................................................ 209
13.10.3 Federal Program for Energy Savings and Energy Efficiency ................................................................. 209
13.10.4 Energy Strategy of Russia to 2030 .............................................................................................................. 210
13.10.5 State Policy Guidelines for Promoting Renewable Energy in the Power Sector ................................ 210
13.10.6 National Climate Doctrine............................................................................................................................... 210
13.10.7 Premium and Certificates Scheme................................................................................................................ 211
13.10.8 Funding for Hydropower ................................................................................................................................. 211
14 Hydropower Market, Asia-Pacific .......................................................................................................... 212
14.1 Hydropower Market, Asia-Pacific, Overview ..................................................................................................... 212
14.2 Hydropower Market, Asia-Pacific, Installed Capacity, 2006–2025 .............................................................. 213
14.3 Hydropower Market, Asia-Pacific, Installed Capacity, By Type, 2006–2025 ............................................. 214
14.3.1 Hydropower Market, Asia-Pacific, Cumulative Installed Capacity, By Type, 2006–2025 ................ 214
14.3.2 Hydropower Market, Asia-Pacific, Annual Installed Capacity, By Type, 2006–2025 ........................ 216
14.4 Hydropower Market, Asia-Pacific, Generation, 2006–2025 .......................................................................... 219
14.4.1 Hydropower Market, Asia-Pacific, Generation, By Type, 2006–2025 .................................................. 221
14.5 Hydropower Market, Asia-Pacific, Market Size ($bn), 2006–2025...............................................................223
15 Hydropower Market, China .................................................................................................................... 225
15.1 Hydropower Market, China, Overview .................................................................................................................225
15.2 Hydropower Market, China, Installed Capacity, 2006–2025 .........................................................................226
15.3 Hydropower Market, China, Installed Capacity, By Type, 2006–2025 ......................................................... 227
15.3.1 Hydropower Market, China, Cumulative Installed Capacity, By Type, 2006–2025 ............................ 227
15.3.2 Hydropower Market, China, Annual Installed Capacity, By Type, 2006–2025....................................229
15.4 Hydropower Market, China, Generation, 2006–2025 ......................................................................................232
15.4.1 Hydropower Market, China, Generation, By Type, 2006–2025 ............................................................. 234
15.5 Hydropower Market, China, Market Size ($bn), 2006–2025 ......................................................................... 236
15.6 Hydropower Market, China, Tenders and Contracts, 2015–2016 ................................................................. 238
15.7 Hydropower Market, China, Major Active Plants, 2015–2016 ........................................................................239
15.8 Hydropower Market, China, Major Upcoming Plants, 2017–2022 ................................................................ 240
15.9 Hydropower Market, China, Investment Trends, 2016 .................................................................................... 241
15.9.1 Hydropower Market, China, Deal Volume vs. Deal Value, 2006–2016 .................................................. 241
15.9.2 Hydropower Market, China, Split, by Deal Type, 2016 ............................................................................. 242
15.10 Hydropower Market, China, Major Policies ........................................................................................................ 243
15.10.1 Preferential Value Added Tax for Small Hydropower .............................................................................. 243
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15.10.2 Rural Electrification Policies Favoring Small Hydro Installation ........................................................... 243
15.10.3 Renewable Energy Targets ........................................................................................................................... 243
16 Hydropower Market, Japan ................................................................................................................... 244
16.1 Hydropower Market, Japan, Overview ............................................................................................................... 244
16.2 Hydropower Market, Japan, Installed Capacity, 2006–2025 ....................................................................... 245
16.3 Hydropower Market, Japan, Installed Capacity, By Type, 2006–2025 ........................................................ 247
16.3.1 Hydropower Market, Japan, Cumulative Installed Capacity, By Type, 2006–2025 ........................... 247
16.3.2 Hydropower Market, Japan, Annual Installed Capacity, By Type, 2006–2025.................................. 249
16.4 Hydropower Market, Japan, Hydropower Generation, 2006–2025 ............................................................. 251
16.4.1 Hydropower Market, Japan, Hydropower Generation, By Type, 2006–2025 .................................... 253
16.5 Hydropower Market, Japan, Market Size ($m), 2006–2025 ..........................................................................255
16.6 Hydropower Market, Japan, Tenders and Contracts, 2015-2016 ................................................................. 257
16.7 Hydropower Market, Japan, Major Active Plants, 2015–2016 ....................................................................... 257
16.8 Hydropower Market, Japan, Major Upcoming Plants, 2015 .......................................................................... 258
16.9 Hydropower Market, Japan, Investment Trends, 2016 ...................................................................................259
16.9.1 Hydropower Market, Japan, Deal Volume vs. Deal Value, 2006–2016 .................................................259
16.10 Hydropower Market, Japan, Major Policies....................................................................................................... 260
16.10.1 Japan Renewable Energy Policy Platform ................................................................................................ 260
16.10.2 Green Investment Tax Credit ......................................................................................................................... 261
16.10.3 Strategic Energy Plan ..................................................................................................................................... 261
17 Hydropower Market, India...................................................................................................................... 262
17.1 Hydropower Market, India Overview ...................................................................................................................262
17.2 Hydropower Market, India, Installed Capacity, 2006–2025 .......................................................................... 263
17.3 Hydropower Market, India, Installed Capacity, By Type, 2006–2025 ......................................................... 264
17.3.1 Hydropower Market, India, Cumulative Installed Capacity, By Type, 2006–2025 ............................ 264
17.3.2 Hydropower Market, India, Annual Installed Capacity, By Type, 2006–2025 .................................... 266
17.4 Hydropower Market, India, Hydropower Generation, 2006–2025 ............................................................... 269
17.4.1 Hydropower Market, India, Generation, By Type, 2006–2025 .................................................................271
17.5 Hydropower Market, India, Market Size ($bn), 2006–2025 ............................................................................ 273
17.6 Hydropower Market, India, Major Tenders and Contracts, 2016 ................................................................... 274
17.7 Hydropower Market, India, Major Active Plants, 2015–2016 .......................................................................... 276
17.8 Hydropower Market, India, Major Upcoming Plants, 2017–2022 ................................................................... 277
17.9 Hydropower Market, India, Investment Trends, 2016 ...................................................................................... 278
17.9.1 Hydropower Market, India, Deal Volume vs. Deal Value, 2006–2016 .................................................... 278
17.9.2 Hydropower Market, India, Split, by Deal Type, 2016 ................................................................................ 279
17.10 Hydropower Market, India, Major Policies ......................................................................................................... 280
17.10.1 Small Hydropower Program .......................................................................................................................... 280
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17.10.2 Financial Support to Private Sector, Joint Sector, and Co-operative Society .................................. 280
17.10.3 Financial Support to State Government, Central Government, and Public Sector Units ................. 281
17.10.4 Feed-in Tariff for Small Hydropower ........................................................................................................... 281
18 Hydropower Market, Vietnam................................................................................................................ 282
18.1 Hydropower Market, Vietnam, Overview ........................................................................................................... 282
18.2 Hydropower Market, Vietnam, Installed Capacity, 2006–2025 .................................................................... 283
18.3 Hydropower Market, Vietnam, Installed Capacity, By Type, 2006–2025 ................................................... 285
18.3.1 Hydropower Market, Vietnam, Cumulative Installed Capacity, By Type, 2006–2025 ...................... 285
18.3.2 Hydropower Market, Vietnam, Annual Installed Capacity, By Type, 2006–2025 .............................. 286
18.4 Hydropower Market, Vietnam, Generation, 2006–2025 ................................................................................ 289
18.4.1 Hydropower Market, Vietnam, Hydropower Generation, By Type, 2006–2025 ................................. 290
18.5 Hydropower Market, Vietnam, Market Size ($m), 2006–2025 .......................................................................293
18.6 Hydropower Market, Vietnam, Tenders and Contracts, 2015–2016 .............................................................295
18.7 Hydropower Market, Vietnam, Major Active Plants, 2015–2016....................................................................295
18.8 Hydropower Market, Vietnam, Major Upcoming Plants, 2017–2022 ........................................................... 296
18.9 Hydropower Market, Vietnam, Investment Trends, 2016 ............................................................................... 297
18.9.1 Hydropower Market, Vietnam, Deal Volume vs. Deal Value, 2006–2016.............................................. 297
18.10 Hydropower Market, Vietnam, Major Policies ................................................................................................... 298
18.10.1 Renewable Energy Development................................................................................................................. 298
18.10.2 Revised Power Development Plan VII ..........................................................................................................299
19 Hydropower Market, Middle East and Africa ........................................................................................ 301
19.1 Hydropower Market, Middle East and Africa, Overview .................................................................................. 301
19.2 Hydropower Market, Middle East and Africa, Installed Capacity, 2006–2025 .......................................... 302
19.3 Hydropower Market, Middle East and Africa, Installed Capacity, By Type, 2006–2025 ......................... 303
19.3.1 Hydropower Market, Middle East and Africa, Cumulative Installed Capacity, By Type, 2006–2025
303
19.3.2 Hydropower Market, Middle East and Africa, Annual Installed Capacity, By Type, 2006–2025 .... 306
19.4 Hydropower Market, Middle East and Africa, Hydropower Generation, 2006–2025 ............................... 308
19.4.1 Hydropower Market, Middle East and Africa, Hydropower Generation, By Type, 2006–2025 ........ 310
19.5 Hydropower Market, Middle East and Africa, Market Size ($bn), 2006–2025 ............................................ 312
20 Hydropower Market, Iran ........................................................................................................................ 314
20.1 Hydropower Market, Iran, Overview .................................................................................................................... 314
20.2 Hydropower Market, Iran, Installed Capacity, 2006–2025 ............................................................................. 315
20.3 Hydropower Market, Iran, Installed Capacity, By Type, 2006–2025 ............................................................ 316
20.3.1 Hydropower Market, Iran, Cumulative Installed Capacity, By Type, 2006–2025 ............................... 316
20.3.2 Hydropower Market, Iran, Annual Installed Capacity, By Type, 2006–2025 ....................................... 318
20.4 Hydropower Market, Iran, Hydropower Generation, 2006–2025 .................................................................. 321
9
20.4.1 Hydropower Market, Iran, Hydropower Generation, By Type, 2006–2025 ..........................................322

20.5 Hydropower Market, Iran, Market Size ($bn), 2006–2025 ............................................................................. 325
20.6 Hydropower Market, Iran, Major Active Plants, 2015 ...................................................................................... 326
20.7 Hydropower Market, Iran, Major Upcoming Plants, 2017–2023 .................................................................... 327
20.8 Hydropower Market, Iran, Investment Trends, 2016....................................................................................... 328
20.8.1 Hydropower Market, Iran, Deal Volume vs. Deal Value, 2006–2016 ..................................................... 328
20.9 Hydropower Market, Iran, Major Policies ............................................................................................................329
20.9.1 Renewable Power Policy ................................................................................................................................329
21 Appendix ................................................................................................................................................... 331
21.1 Abbreviations ........................................................................................................................................................... 331
21.2 Definitions................................................................................................................................................................ 332
21.2.1 Power ................................................................................................................................................................. 332
21.2.2 Installed Capacity............................................................................................................................................ 332
21.2.3 Active Installed Capacity ............................................................................................................................... 332
21.2.4 Electricity Generation..................................................................................................................................... 332
21.2.5 Electricity Consumption ................................................................................................................................ 332
21.2.6 Hydropower Plant ........................................................................................................................................... 332
21.2.7 Renewable Energy Resources ...................................................................................................................... 332
21.3 Bibliography ............................................................................................................................................................ 333
21.4 Methodology............................................................................................................................................................ 334
21.5 Contact Us ............................................................................................................................................................... 334
21.6 Disclaimer ................................................................................................................................................................ 334
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1.1 List of Tables
Table 1: Hydropower Market, Key Countries, Installed Capacity (GW), 2016 ................................................................21
Table 2: Hydropower Market, Global, Installed Capacity (GW), 2006–2025 ................................................................ 30
Table 3: Hydropower Market, Global, Cumulative Installed Capacity (GW), 2006–2025 .......................................... 32
Table 4: Hydropower Market, Global, Annual Installed Capacity (GW), 2006–2025 .................................................. 34
Table 5: Hydropower Market, Global, Hydropower Generation (TWh), 2006–2025 ................................................... 36
Table 6: Hydropower Market, Global, Hydropower Generation (TWh), By Type, 2006–2025 .................................. 38
Table 7: Hydropower Market, Global, Market Size ($bn), 2006–2025...........................................................................40
Table 8:Hydropower Market, Global, Deal Volume vs. Deal Value ($bn), 2006–2016 ............................................... 42
Table 9:Hydropower Market, Global, Deals by Type, 2016 .............................................................................................. 43
Table 10: Hydropower Market, North America, Installed Capacity (GW), 2006–2025 ...............................................48
Table 11: Hydropower Market, North America, Cumulative Installed Capacity (GW), By Type, 2006–2025 ......... 50
Table 12: Hydropower Market, North America, Annual Installed Capacity (GW), By Type, 2006–2025 ................ 52
Table 13: Hydropower Market, North America, Hydropower Generation (TWh), 2006–2025 .................................. 54
Table 14: Hydropower Market, North America, Hydropower Generation (TWh), By Type, 2006–2025 ................. 56
Table 15: Hydropower Market, North America, Market Size ($bn), 2006–2025 ......................................................... 58
Table 16: Hydropower Market, US, Installed Capacity (GW), 2006–2025 .................................................................... 61
Table 17: Hydropower Market, US, Cumulative Installed Capacity (GW), By Type, 2006–2025 .............................. 63
Table 18: Hydropower Market, US, Annual Installed Capacity (GW), By Type, 2006–2025...................................... 65
Table 19: Hydropower Market, US, Hydropower Generation (TWh), 2006–2025 ....................................................... 67
Table 20: Hydropower Market, US, Power Generation (TWh), By Type, 2006–2025 ................................................. 69
Table 21: Hydropower Market, US, Market Size ($bn), 2006–2025 ................................................................................ 71
Table 22: Hydropower Market, US, Major Tenders,2016 .................................................................................................. 72
Table 23: Hydropower Market, US, Major Contracts, 2016 ............................................................................................. 73
Table 24: Hydropower Market, US, Major Active Plants, 2016 ....................................................................................... 74
Table 25: Hydropower Market, US, Major Upcoming Plants, 2017–2025 ..................................................................... 74
Table 26:Hydropower Market, US, Deal Volume vs. Deal Value ($bn), 2006–2016 ................................................... 75
Table 27:Hydropower Market, US, Deals by Type, 2016 .................................................................................................. 76
Table 28: Renewable Energy Market, US, Production Tax Credit ($/kWh), 2016 ....................................................... 78
Table 29: Renewable Energy Market, US, Production Tax Credit, 2016 ....................................................................... 79
Table 30: Hydropower Market, Canada, Installed Capacity (GW), 2006–2025 ...........................................................84
Table 31: Hydropower Market, Canada, Cumulative Installed Capacity (GW), By Type, 2006–2025 ..................... 86
Table 32: Hydropower Market, Canada, Annual Installed Capacity (GW), By Type, 2006–2025 ............................88
Table 33: Hydropower Market, Canada, Hydropower Generation (TWh), 2006–2025 .............................................. 90
Table 34: Hydropower Market, Canada, Hydropower Generation (TWh), By Type, 2006–2025 ............................. 92
Table 35: Hydropower Market, Canada, Market Size ($bn), 2006–2025 ..................................................................... 94
Table 36: Hydropower Market, Canada, Major Tenders, 2015–2016 ............................................................................. 95
Table 37: Hydropower Market, Canada, Major Contracts,2016 ...................................................................................... 96
Table 38: Hydropower Market, Canada, Major Active Plants, 2016 .............................................................................. 97
Table 39: Hydropower Market, Canada, Major Upcoming Plants, 2017–2024 ............................................................ 97
Table 40:Hydropower Market, Canada, Deal Volume vs. Deal Value ($m), 2006–2016............................................ 99
Table 41:Hydropower Market, Canada, Deals by Type, 2016 ........................................................................................ 100
Table 42: Hydropower Market, South And Central America, Installed Capacity (GW), 2006–2025 ..................... 108
Table 43: Hydropower Market, South and Central America, Cumulative Installed Capacity (GW), By Type,
2006–2025 .............................................................................................................................................................................. 110
Table 44: Hydropower Market, South And Central America, Annual Installed Capacity By Type (GW), 2006–
2025 .......................................................................................................................................................................................... 112
Table 45: Hydropower Market, South And Central America, Hydropower Generation (TWh), 2006–2025 ......... 114
Table 46: Hydropower Market, South And Central America, Hydropower Generation (TWh), By Type, 2006–
2025 .......................................................................................................................................................................................... 116
Table 47: Hydropower Market, South and Central America, Market Size ($bn), 2006–2025 ................................. 118
11
Table 48: Hydropower Market, Brazil, Installed Capacity (GW), 2006–2025 ............................................................. 121
Table 49: Hydropower Market, Brazil, Cumulative Installed Capacity (GW), By Type 2006–2025 ....................... 123
Table 50: Hydropower Market, Brazil, Annual Installed Capacity (GW), By Type 2006–2025 ............................... 125
Table 51: Hydropower Market, Brazil, Hydropower Generation (TWh), 2006–2025 .................................................127
Table 52: Hydropower Market, Brazil, Hydropower Generation (TWh), By Type, 2006–2025 ............................... 129
Table 53: Hydropower Market, Brazil, Market Size ($bn), 2006–2025 ........................................................................ 131
Table 54: Hydropower Market, Brazil, Major Tenders and Contracts,2015–2016 ..................................................... 131
Table 55: Hydropower Market, Brazil, Major Active Plants, 2006–2015 .................................................................... 133
Table 56: Hydropower Market, Brazil, Major Upcoming Plants, 2016–2025 ............................................................. 134
Table 57:Hydropower Market, Brazil, Deal Volume vs. Deal Value ($m), 2006–2016 .............................................. 136
Table 58:Hydropower Market, Brazil, Deals by Type, 2016 ........................................................................................... 137
Table 59: Hydropower Market, Europe, Installed Capacity (GW), 2006–2025 .......................................................... 140
Table 60: Hydropower Market, Europe, Cumulative Installed Capacity (GW), 2006–2025 .................................... 142
Table 61: Hydropower Market, Europe, Annual Installed Capacity By Type (GW), 2006–2025 ............................. 144
Table 62: Hydropower Market, Europe, Hydropower Generation (TWh), 2006–2025 ............................................. 146
Table 63: Hydropower Market, Europe, Hydropower Generation (TWh), By Type, 2006–2025 ............................ 148
Table 64: Hydropower Market, Europe, Market Size ($bn), 2006–2025 .................................................................... 150
Table 65: Hydropower Market, Norway, Installed Capacity (GW), 2006–2025 ......................................................... 153
Table 66: Hydropower Market, Norway, Cumulative Installed Capacity (GW), By Type, 2006–2025 .................. 155
Table 67: Hydropower Market, Norway, Annual Installed Capacity (GW), By Type, 2006–2025 .......................... 157
Table 68: Hydropower Market, Norway, Hydropower Generation (TWh), 2006–2025............................................ 159
Table 69: Hydropower Market, Norway, Hydropower Generation (TWh), By Type, 2006–2025 ............................ 161
Table 70: Hydropower Market, Norway, Market Size ($m), 2006–2025..................................................................... 163
Table 71: Hydropower Market, Norway, Major Tenders and Contracts, 2016 ............................................................ 164
Table 72: Hydropower Market, Norway, Major Active Plants, 2015–2016 .................................................................. 165
Table 73: Hydropower Market, Norway, Major Upcoming Plants,2017–2020 ........................................................... 165
Table 74:Hydropower Market, Norway, Deal Volume vs. Deal Value ($m), 2006–2016 .......................................... 167
Table 75:Hydropower Market, Norway, Deals by Type, 2016........................................................................................ 168
Table 76: Hydropower Market, Turkey, Installed Capacity (GW), 2006–2025 ............................................................172
Table 77: Hydropower Market, Turkey, Cumulative Installed Capacity (GW), By Type, 2006–2025 .................... 174
Table 78: Hydropower Market, Turkey, Annual Installed Capacity (GW), By Type, 2006–2025 ............................ 176
Table 79: Hydropower Market, Turkey, Hydropower Generation (TWh), 2006–2025.............................................. 178
Table 80: Hydropower Market, Turkey, Hydropower Generation (TWh), By Type, 2006–2025 ............................ 180
Table 81: Hydropower Market, Turkey, Market Size ($bn), 2006–2025 ..................................................................... 182
Table 82: Hydropower Market, Turkey, Major Tenders and Contracts, 2015–2016 ................................................. 183
Table 83: Hydropower Market, Turkey, Major Active Plants, 2015–2016................................................................... 184
Table 84: Hydropower Market, Turkey, Major Upcoming Plants, 2017–2018 ............................................................ 185
Table 85:Hydropower Market, Turkey, Deal Volume vs. Deal Value ($m), 2006–2016 ........................................... 187
Table 86:Hydropower Market, Turkey, Deals by Type, 2016......................................................................................... 188
Table 87: Hydropower Market, Russian Federation, Installed Capacity (GW), 2006–2025 .................................... 193
Table 88: Hydropower Market, Russian Federation, Cumulative Installed Capacity (GW), By Type, 2006–2025
................................................................................................................................................................................................... 195
Table 89: Hydropower Market, Russian Federation, Annual Installed Capacity (GW), 2006–2025 ..................... 197
Table 90: Hydropower Market, Russian Federation, Hydropower Generation (TWh), 2006–2025 ...................... 199
Table 91: Hydropower Market, Russian Federation, Hydropower Generation (TWh), By Type, 2006–2025 ...... 201
Table 92: Hydropower Market, Russian Federation, Market Size ($bn), 2006–2025 ............................................. 203
Table 93: Hydropower Market, Russian Federation, Major Tenders and Contracts, 2015–2016 ......................... 204
Table 94: Hydropower Market, Russia Federation, Major Active Plants, 2015–2016 ............................................. 205
Table 95: Hydropower Market, Russian Federation, Major Upcoming Plants, 2017–2020 ................................... 205
Table 96:Hydropower Market, Russian Federation, Deal Volume vs. Deal Value ($m), 2006–2016 .................... 207
Table 97:Hydropower Market, Russian Federation, Deals by Type, 2016 ................................................................. 208
Table 98: Minimum Local Content Requirement (%), Russia, 2014–2020 ................................................................ 208
Table 99: Annual Limits on Renewable Capacity Addition (MW), Russia, 2014–2020 ........................................... 209
12
Table 100: Renewable Energy Capacity Tenders, Russia ............................................................................................ 209

Table 101: Hydropower Market, Asia-Pacific, Installed Capacity (GW), 2006–2025................................................ 214
Table 102: Hydropower Market, Asia-Pacific, Cumulative Installed Capacity (GW), By Type, 2006–2025 ........ 216
Table 103: Hydropower Market, Asia-Pacific, Annual Installed Capacity (GW), By Type, 2006–2025 ................ 218
Table 104: Hydropower Market, Asia-Pacific, Hydropower Generation (TWh), 2006–2025 ................................. 220
Table 105: Hydropower Market, Asia-Pacific, Hydropower Generation (TWh), By Type, 2006–2025 .................222
Table 106: Hydropower Market, Asia-Pacific, Market Size ($bn), 2006–2025 ........................................................ 224
Table 107: Hydropower Market, China, Installed Capacity (GW), 2006–2025 ........................................................... 227
Table 108: Hydropower Market, China, Cumulative Installed Capacity (GW), By Type, 2006–2025....................229
Table 109: Hydropower Market, China, Annual Installed Capacity (GW), By Type, 2006–2025 ............................ 231
Table 110: Hydropower Market, China, Hydropower Generation (TWh), 2006–2025 ............................................. 233
Table 111: Hydropower Market, China, Hydropower Generation (TWh), By Type, 2006–2025 ............................. 235
Table 112: Hydropower Market, China, Market Size ($bn), 2006–2025 ...................................................................... 237
Table 113: Hydropower Market, China, Major Tenders and Contracts,2015–2016 .................................................. 238
Table 114: Hydropower Market, China, Major Active Plants, 2015–2016 ....................................................................239
Table 115: Hydropower Market, China, Major Upcoming Plants, 2017–2022............................................................ 240
Table 116:Hydropower Market, China, Deal Volume vs. Deal Value ($m), 2006–2016 ........................................... 242
Table 117:Hydropower Market, China, Deals by Type, 2016 ......................................................................................... 243
Table 118: Hydropower Market, Japan, Installed Capacity (GW), 2006–2025 ......................................................... 246
Table 119: Hydropower Market, Japan, Cumulative Installed Capacity (GW), 2006–2025 ................................... 248
Table 120: Hydropower Market, Japan, Annual Installed Capacity (GW), 2006–2025........................................... 250
Table 121: Hydropower Market, Japan, Hydropower Generation (TWh), 2006–2025 .............................................252
Table 122: Hydropower Market, Japan, Hydropower Generation (TWh), By Type, 2006–2025 ........................... 254
Table 123: Hydropower Market, Japan, Market Size ($m), 2006–2025 .................................................................... 256
Table 124: Hydropower Market, Japan, Major Tenders and Contracts,2015-2016.................................................. 257
Table 125: Hydropower Market, Japan, Major Upcoming Plants, 2015–2016 ........................................................... 257
Table 126: Hydropower Market, Japan, Major Upcoming Plants, 2016–2025 ......................................................... 258
Table 127:Hydropower Market, Japan, Deal Volume vs. Deal Value ($m), 2006–2016 .......................................... 260
Table 128: Hydropower Market, India, Installed Capacity (GW), 2006–2025 ........................................................... 264
Table 129: Hydropower Market, India, Cumulative Installed Capacity (GW), By Type, 2006–2025..................... 266
Table 130: Hydropower Market, India, Annual Installed Capacity (GW), By Type, 2006–2025 ............................ 268
Table 131: Hydropower Market, India, Hydropower Generation (TWh), 2006–2025 ................................................ 270
Table 132: Hydropower Market, India, Hydropower Generation (TWh), By Type, 2006–2025 .............................. 272
Table 133: Hydropower Market, India, Market Size ($bn), 2006–2025....................................................................... 274
Table 134: Hydropower Market, India, Major Tenders and Contracts,2016 ............................................................... 274
Table 135: Hydropower Market, India, Major Active Plants, 2015–2016 ..................................................................... 276
Table 136: Hydropower Market, India, Major Upcoming Plants, 2017–2022 ............................................................. 277
Table 137:Hydropower Market, India, Deal Volume vs. Deal Value ($m), 2006–2016 ............................................. 279
Table 138:Hydropower Market, India, Deals by Type, 2016 ......................................................................................... 280
Table 139: Support for Hydropower in Private Sector, Joint Sector, and Co-operative Societies, India, 2015 280
Table 140: Support for Hydropower in State Government, Central Government, and Public Sector Units, India,
2015 .......................................................................................................................................................................................... 281
Table 141: Hydropower Market, Vietnam, Installed Capacity (GW), 2006–2025 ..................................................... 284
Table 142: Hydropower Market, Vietnam, Cumulative Installed Capacity, Share By Type (%), 2006–2025 ..... 286
Table 143: Hydropower Market, Vietnam, Annual Installed Capacity (GW), By Type 2006–2025 ....................... 288
Table 144: Hydropower Market, Vietnam, Hydropower Generation (TWh), 2006–2025........................................ 290
Table 145: Hydropower Market, Vietnam, Hydropower Generation (TWh), By Type, 2006–2025 ........................292
Table 146: Hydropower Market, Vietnam, Market Size ($m), 2006–2025 ................................................................ 294
Table 147: Hydropower Market, Vietnam, Major Tenders and Contracts, 2015–2016 .............................................295
Table 148: Hydropower Market, Vietnam, Major Active Plants, 2015–2016 ..............................................................295
Table 149: Hydropower Market, Vietnam, Major Upcoming Plants, 2017–2022 ...................................................... 296
Table 150:Hydropower Market, Vietnam, Deal Volume vs. Deal Value ($m), 2006–2016...................................... 298
13
Table 151: Share of Various Energy Sources in Installed Capacity and Electricity Generation in the Original and
Revised Power Development Plan VII (%), Vietnam, 2020–2030 .............................................................................. 300
Table 152: Hydropower Market, Middle East and Africa, Installed Capacity (GW), 2006–2025 ........................... 303
Table 153: Hydropower Market, Middle East and Africa, Cumulative Installed Capacity, By Type (GW), 2006–
2025 ........................................................................................................................................................................................ 305
Table 154: Hydropower Market, Middle East and Africa, Annual Installed Capacity, By Type (GW), 2006–2025
................................................................................................................................................................................................... 307
Table 155: Hydropower Market, Middle East and Africa, Hydropower Generation (TWh), 2006–2025 .............. 309
Table 156: Hydropower Market, Middle East and Africa, Hydropower Generation (TWh), By Type, 2006–2025 311
Table 157: Hydropower Market, Middle East and Africa, Market Size ($bn), 2006–2025 ....................................... 313
Table 158: Hydropower Market, Iran, Installed Capacity (GW), 2006–2025 .............................................................. 316
Table 159: Hydropower Market, Iran, Cumulative Installed Capacity (GW), By Type, 2006–2025 ....................... 318
Table 160: Hydropower Market, Iran, Annual Installed Capacity (GW), By Type 2006–2025 ............................... 320
Table 161: Hydropower Market, Iran, Hydropower Generation (TWh), 2006–2025 ..................................................322
Table 162: Hydropower Market, Iran, Hydropower Generation (TWh), By Type, 2006–2025 ............................... 324
Table 163: Hydropower Market, Iran, Market Size ($bn), 2006–2025 ....................................................................... 326
Table 164: Hydropower Market, Iran, Major Upcoming Plants, 2015.......................................................................... 326
Table 165: Hydropower Market, Iran, Major Upcoming Plants, 2017–2023 ............................................................... 327
Table 166:Hydropower Market, Iran, Deal Volume vs. Deal Value ($m), 2006–2016 ...............................................329
Table 167: Renewable Energy Policy, Iran, Feed-in Tariffs for Renewable Energy Sources, 2017 ...................... 330
Table 168: Abbreviations...................................................................................................................................................... 331
1.2 List of Figures
Figure 1: Hydropower Market, Global, Cumulative Installed Capacity, Share By Type (%), 2016 .............................19
Figure 2: Hydropower Market, Global, Annual Installed Capacity Share By Region (%), 2016 ................................ 20
Figure 3: Hydropower Market, Key Countries, Installed Capacity (GW), 2016..............................................................21
Figure 4: Hydropower Market, Global, Market Size, 2010–2025 .................................................................................... 22
Figure 5: Hydropower Market, Global, Value Chain .......................................................................................................... 24
Figure 6: Hydropower Market, Global, Installed Capacity (GW), 2006–2025 .............................................................. 29
Figure 7: Hydropower Market, Global, Cumulative Installed Capacity (GW), 2006–2025......................................... 31
Figure 8: Hydropower Market, Global, Annual Installed Capacity (GW), 2006–2025 ................................................ 33
Figure 9: Hydropower Market, Global, Hydropower Generation (TWh), 2006–2025 ................................................. 35
Figure 10: Hydropower Market, Global, Hydropower Generation (TWh), By Type, 2006–2025 .............................. 37
Figure 11: Hydropower Market, Global, Market Size ($bn), 2006–2025........................................................................ 39
Figure 12:Hydropower Market, Global, Deal Volume vs. Deal Value ($bn), 2006–2016 ............................................ 41
Figure 13: Hydropower Market, Global, Split, by Deal Type (%), 2016 ........................................................................... 42
Figure 14: Hydropower Market, North America, Installed Capacity (GW), 2006–2025 ............................................. 47
Figure 15: Hydropower Market, North America, Cumulative Installed Capacity (GW), By Type, 2006–2025....... 49
Figure 16: Hydropower Market, North America, Annual Installed Capacity (GW), By Type, 2006–2025 ...............51
Figure 17: Hydropower Market, North America, Hydropower Generation (TWh), 2006–2025................................. 53
Figure 18: Hydropower Market, North America, Hydropower Generation (TWh), 2006–2025 ................................ 55
Figure 19: Hydropower Market, North America, Market Size ($bn), 2006–2025........................................................ 57
Figure 20: Hydropower Market, US, Installed Capacity (GW), 2006–2025 .................................................................. 60
Figure 21: Hydropower Market, US, Cumulative Installed Capacity (GW), By Type, 2006–2025 ............................ 62
Figure 22: Hydropower Market, US, Annual Installed Capacity (GW), By Type, 2006–2025 ................................... 64
Figure 23: Hydropower Market, US, Hydropower Generation (TWh), 2006–2025 ..................................................... 66
Figure 24: Hydropower Market, US, Hydropower Generation (TWh), By Type, 2006–2025 .................................... 68
Figure 25: Hydropower Market, US, Market Size ($bn), 2006–2025 ............................................................................ 70
Figure 26: Hydropower Market, US, Deal Volume vs. Deal Value ($bn), 2006–2016................................................. 75
Figure 27: Hydropower Market, US, Split, by Deal Type (%), 2016 ................................................................................. 76
14
Figure 28: Hydropower Market, Canada, Installed Capacity (GW), 2006–2025 ......................................................... 83
Figure 29: Hydropower Market, Canada, Cumulative Installed Capacity (GW), By Type, 2006–2025................... 85
Figure 30: Hydropower Market, Canada, Annual Installed Capacity (GW), By Type, 2006–2025 .......................... 87
Figure 31: Hydropower Market, Canada, Hydropower Generation (TWh), 2006–2025 ............................................. 89
Figure 32: Hydropower Market, Canada, Hydropower Generation (TWh), By Type, 2006–2025 ............................91
Figure 33: Hydropower Market, Canada, Market Size ($bn), 2006–2025.................................................................... 93
Figure 34: Hydropower Market, Canada, Deal Volume vs. Deal Value ($m), 2006–2016 ......................................... 98
Figure 35: Hydropower Market, Canada, Split, by Deal Type (%), 2016 ........................................................................ 99
Figure 36: Hydropower Market, South And Central America, Installed Capacity (GW), 2006–2025 ................... 107
Figure 37: Hydropower Market, South and Central America, Cumulative Installed Capacity (GW), By Type,
2006–2025 ............................................................................................................................................................................. 109
Figure 38: Hydropower Market, South And Central America, Annual Installed Capacity By Type (GW), 2006–
2025 .......................................................................................................................................................................................... 111
Figure 39: Hydropower Market, South And Central America, Hydropower Generation (TWh), 2006–2025 ....... 113
Figure 40: Hydropower Market, South And Central America, Hydropower Generation, By Type (TWh), 2006–
2025 .......................................................................................................................................................................................... 115
Figure 41: Hydropower Market, South and Central America, Market Size ($bn), 2006–2025................................ 117
Figure 42: Hydropower Market, Brazil, Installed Capacity (GW), 2006–2025 ........................................................... 120
Figure 43: Hydropower Market, Brazil, Cumulative Installed Capacity (GW), By Type 2006–2025 ..................... 122
Figure 44: Hydropower Market, Brazil, Annual Installed Capacity (GW), By Type 2006–2025 ............................. 124
Figure 45: Hydropower Market, Brazil, Hydropower Generation (TWh), 2006–2025 .............................................. 126
Figure 46: Hydropower Market, Brazil, Hydropower Generation (TWh), 2006–2025 .............................................. 128
Figure 47: Hydropower Market, Brazil, Market Size ($bn), 2006–2025...................................................................... 130
Figure 48: Hydropower Market, Brazil, Deal Volume vs. Deal Value ($m), 2006–2016........................................... 135
Figure 49: Hydropower Market, Brazil, Split, by Deal Type (%), 2016 ......................................................................... 136
Figure 50: Hydropower Market, Europe, Installed Capacity (GW), 2006–2025 ........................................................ 139
Figure 51: Hydropower Market, Europe, Cumulative Installed Capacity (GW), 2006–2025 .................................... 141
Figure 52: Hydropower Market, Europe, Annual Installed Capacity By Type (GW), 2006–2025 .......................... 143
Figure 53: Hydropower Market, Europe, Hydropower Generation (TWh), 2006–2025 ........................................... 145
Figure 54: Hydropower Market, Europe, Hydropower Generation (TWh), By Type, 2006–2025 .......................... 147
Figure 55: Hydropower Market, Europe, Market Size ($bn), 2006–2025 .................................................................. 149
Figure 56: Hydropower Market, Norway, Installed Capacity (GW), 2006–2025 ....................................................... 152
Figure 57: Hydropower Market, Norway, Cumulative Installed Capacity (GW), By Type, 2006–2025 ................. 154
Figure 58: Hydropower Market, Norway, Annual Installed Capacity (GW), By Type, 2006–2025 ........................ 156
Figure 59: Hydropower Market, Norway, Hydropower Generation (TWh), 2006–2025 .......................................... 158
Figure 60: Hydropower Market, Norway, Hydropower Generation, By Type (TWh), 2006–2025 ......................... 160
Figure 61: Hydropower Market, Norway, Market Size ($m), 2006–2025 ................................................................... 162
Figure 62: Hydropower Market, Norway, Deal Volume vs. Deal Value ($m), 2006–2016 ....................................... 166
Figure 63: Hydropower Market, Norway, Split, by Deal Type (%), 2016 ...................................................................... 167
Figure 64: Hydropower Market, Turkey, Installed Capacity (GW), 2006–2025.......................................................... 171
Figure 65: Hydropower Market, Turkey, Cumulative Installed Capacity (GW), By Type 2006–2025 ................... 173
Figure 66: Hydropower Market, Turkey, Annual Installed Capacity (GW), By Type, 2006–2025 .......................... 175
Figure 67: Hydropower Market, Turkey, Hydropower Generation (TWh), 2006–2025 ............................................. 177
Figure 68: Hydropower Market, Turkey, Hydropower Generation (TWh), By Type, 2006–2025........................... 179
Figure 69: Hydropower Market, Turkey, Market Size ($bn), 2006–2025 .................................................................... 181
Figure 70: Hydropower Market, Turkey, Deal Volume vs. Deal Value ($m), 2006–2016 ......................................... 186
Figure 71: Hydropower Market, Turkey, Split, by Deal Type (%), 2016 ........................................................................ 187
Figure 72: Hydropower Market, Russian Federation, Installed Capacity (GW), 2006–2025 .................................. 192
Figure 73: Hydropower Market, Russian Federation, Cumulative Installed Capacity (GW), By Type, 2006–2025
................................................................................................................................................................................................... 194
Figure 74: Hydropower Market, Russian Federation, Annual Installed Capacity (GW), 2006–2025 .................... 196
Figure 75: Hydropower Market, Russian Federation, Hydropower Generation (TWh), 2006–2025 ..................... 198
Figure 76: Hydropower Market, Russian Federation, Hydropower Generation (TWh), By Type, 2006–2025 ... 200
15
Figure 77: Hydropower Market, Russian Federation, Market Size ($bn), 2006–2025 ............................................ 202
Figure 78: Hydropower Market, Russian Federation, Deal Volume vs. Deal Value ($m), 2006–2016 ................. 206
Figure 79: Hydropower Market, Russian Federation, Split, by Deal Type (%), 2016 ................................................. 207
Figure 80: Hydropower Market, Asia-Pacific, Installed Capacity (GW), 2006–2025 ............................................... 213
Figure 81: Hydropower Market, Asia-Pacific, Cumulative Installed Capacity (GW), By Type, 2006–2025 ......... 215
Figure 82: Hydropower Market, Asia-Pacific, Annual Installed Capacity (GW), By Type, 2006–2025 .................217
Figure 83: Hydropower Market, Asia-Pacific, Hydropower Generation (TWh), 2006–2025 .................................. 219
Figure 84: Hydropower Market, Asia-Pacific, Hydropower Generation, By Type (TWh), 2006–2025 ................. 221
Figure 85: Hydropower Market, Asia-Pacific, Market Size ($bn), 2006–2025 .........................................................223
Figure 86: Hydropower Market, China, Installed Capacity (GW), 2006–2025 ..........................................................226
Figure 87: Hydropower Market, China, Cumulative Installed Capacity (GW), By Type, 2006–2025 ................... 228
Figure 88: Hydropower Market, China, Annual Installed Capacity (GW), By Type, 2006–2025........................... 230
Figure 89: Hydropower Market, China, Hydropower Generation (TWh), 2006–2025 .............................................232
Figure 90: Hydropower Market, China, Hydropower Generation (TWh), By Type, 2006–2025............................ 234
Figure 91: Hydropower Market, China, Market Size ($bn), 2006–2025 ..................................................................... 236
Figure 92: Hydropower Market, China, Deal Volume vs. Deal Value ($m), 2006–2016........................................... 241
Figure 93: Hydropower Market, China, Split, by Deal Type (%), 2016 ........................................................................ 242
Figure 94: Hydropower Market, Japan, Installed Capacity (GW), 2006–2025......................................................... 245
Figure 95: Hydropower Market, Japan, Cumulative Installed Capacity (GW), 2006–2025 .................................... 247
Figure 96: Hydropower Market, Japan, Annual Installed Capacity (GW), By Type 2006–2025 ........................... 249
Figure 97: Hydropower Market, Japan, Hydropower Generation (TWh), 2006–2025 ............................................. 251
Figure 98: Hydropower Market, Japan, Hydropower Generation (TWh), By Type, 2006–2025........................... 253
Figure 99: Hydropower Market, Japan, Market Size ($m), 2006–2025 .....................................................................255
Figure 100: Hydropower Market, Japan, Deal Volume vs. Deal Value ($m), 2006–2016 .......................................259
Figure 101: Hydropower Market, India, Installed Capacity (GW), 2006–2025 .......................................................... 263
Figure 102: Hydropower Market, India, Cumulative Installed Capacity (GW), By Type, 2006–2025 ................... 265
Figure 103: Hydropower Market, India, Annual Installed Capacity (GW), By Type, 2006–2025 ............................ 267
Figure 104: Hydropower Market, India, Hydropower Generation (TWh), 2006–2025 ............................................ 269
Figure 105: Hydropower Market, India, Hydropower Generation (TWh), By Type, 2006–2025..............................271
Figure 106: Hydropower Market, India, Market Size ($bn), 2006–2025 ..................................................................... 273
Figure 107: Hydropower Market, India, Deal Volume vs. Deal Value ($m), 2006–2016........................................... 278
Figure 108: Hydropower Market, India, Split, by Deal Type (%), 2016 ......................................................................... 279
Figure 109: Hydropower Market, Vietnam, Installed Capacity (GW), 2006–2025 ................................................... 283
Figure 110: Hydropower Market, Vietnam, Cumulative Installed Capacity (GW), By Type, 2006–2025 ............. 285
Figure 111: Hydropower Market, Vietnam, Annual Installed Capacity (GW), By Type 2006–2025 ........................ 287
Figure 112: Hydropower Market, Vietnam, Hydropower Generation (TWh), 2006–2025 ....................................... 289
Figure 113: Hydropower Market, Vietnam, Hydropower Generation (TWh), By Type, 2006–2025 ....................... 291
Figure 114: Hydropower Market, Vietnam, Market Size ($m), 2006–2025 ................................................................293
Figure 115: Hydropower Market, Vietnam, Deal Volume vs. Deal Value ($m), 2006–2016 ..................................... 297
Figure 116: Hydropower Market, Middle East and Africa, Installed Capacity (GW), 2006–2025 .......................... 302
Figure 117: Hydropower Market, Middle East and Africa, Cumulative Installed Capacity, By Type (GW), 2006–
2025 ........................................................................................................................................................................................ 304
Figure 118: Hydropower Market, Middle East and Africa, Annual Installed Capacity, By Type (GW), 2006–2025
.................................................................................................................................................................................................. 306
Figure 119: Hydropower Market, Middle East and Africa, Hydropower Generation (TWh), 2006–2025 ............. 308
Figure 120: Hydropower Market, Middle East and Africa, Hydropower Generation (TWh), By Type, 2006–2025
................................................................................................................................................................................................... 310
Figure 121: Hydropower Market, Middle East and Africa, Market Size ($bn), 2006–2025 ...................................... 312
Figure 122: Hydropower Market, Iran, Installed Capacity (GW), 2006–2025 ............................................................ 315
Figure 123: Hydropower Market, Iran, Cumulative Installed Capacity (GW), By Type, 2006–2025 ...................... 317
Figure 124: Hydropower Market, Iran, Annual Installed Capacity (GW), By Type 2006–2025............................... 319
Figure 125: Hydropower Market, Iran, Hydropower Generation (TWh), 2006–2025 ............................................... 321
Figure 126: Hydropower Market, Iran, Hydropower Generation (TWh), By Type, 2006–2025.............................. 323
16
Figure 127: Hydropower Market, Iran, Market Size ($bn), 2006–2025 ...................................................................... 325
Figure 128: Hydropower Market, Iran, Deal Volume vs. Deal Value ($m), 2006–2016 ........................................... 328
17
2 Executive Summary
2.1 Commitments Made at COP22 to Boost Hydropower Capacity Additions
Around 200 parties (including European Union (EU)) gathered at the United Nations’ (UN) 22nd Conference of
the Parties (COP22) in Morocco from November 7 to November 18, 2016, to focus on the progress of the historic
climate deal adopted at the COP21 conference in Paris on December 2015.. The Paris agreement has sent a
strong signal to business and investors to enter into a new, low-carbon era. The major focus areas of the
conference included decreasing Greenhouse Gas (GHG) emissions, promoting sustainable development,
particularly in developing countries, through the enhanced deployment of renewable energy. The stronger
pressure from the agreement and the regular review cycle would likely help to ensure support for hydropower
within renewables policy frameworks.
The Paris Agreement was a complete document that set out the overarching goals and framework for
international climate action. But setting out the details is a longer process, which the countries participating in
COP22 have decided should be completed by 2018, with a review of progress in 2017. COP22 was the first stop
after Paris and it needs to cover and take up the issues to make Paris work and be implemented.
A key theme of COP22 was how best to create a fair “rulebook” that all countries could share and have
confidence in when assessing each other’s climate pledges. The major decisions adopted by COP22 include
Marrakech action proclamation for climate and sustainable development, and Marrakech Partnership for Global
Climate Action. The technicalities of the rulebook – baselines, and methodologies will likely be a continuing
discussion in 2018. By the end of COP22, 111 countries agreed for the agreement, together these countries
account for three quarters of greenhouse gas (GHG) emissions.
2.2 Large Hydro was the Major Contributor in the Growth of Hydropower Market
Hydropower is one of the most widely used and oldest forms of renewable energy. Hydropower plays a major
role in addressing the concerns of climate change as it produces no GHG emissions and reduces dependence
upon fossil fuels. Small hydropower is one of the most widely used renewable resources in the world for the
generation of clean power.
Hydropower is receiving enormous support from various governments around the world in the form of favorable
policies and incentives. Of all of the renewable energy sources, hydropower is one of the most widely used, as it
is inexpensive and is well established. At the global level, hydropower generation accounts for 18.6% of total
power generation as of 2016. The total hydropower installed capacity increased from 864 Gigawatts (GW) in
2006 to 1,211.3 GW in 2016, at a Compound Annual Growth Rate (CAGR) of 3.4%. Since hydropower is a mature
technology, it has registered a modest growth rate. Although fossil fuels dominate electricity generation across
the world, more than 60 countries use hydropower to meet more than half of their electricity needs. The
18
technology is the most popular non-polluting source of electricity generation for various reasons; for example, it
is able to instantly respond to changing electricity demand, water management, and flood control.
The large hydro segment comprise of 75.8% of the total installed capacity followed by pumped storage and small
hydro with 12.6% and 11.6%, respectively, in 2016. The following figure illustrates the global hydropower market
share by type in 2016.
Figure 1: Hydropower Market, Global, Cumulative Installed Capacity, Share By Type (%), 2016
Small hydro, 11.6
Pumped storage, 12.6
Large hydro, 75.8
Source: GlobalData Power Database [Accessed on January 31, 2017]
2.3 Asia-Pacific Region Contributed Substantial Hydropower Capacity Additions in 2016
As of 2016, the Asia-Pacific region was the global leader with 64.1% of global hydropower annual installed
capacity followed by South and Central America with 12.5%, Europe with 12.4%, and Middle East and Africa (MEA)
with 9.4%. North America accounted for 1.6% of the total capacity additions.
The highest capacity additions witnessed in Asia-Pacific were attributed to countries such as China, India, and
Indonesia. China added more new installed hydropower capacity than the rest of the world, strengthening the
country’s role in the global hydropower development.
19
The following figure illustrates the share of capacity added in all the regions in 2016.
Figure 2: Hydropower Market, Global, Annual Installed Capacity Share By Region (%), 2016
North America, 1.6
Middle East and Africa,

9.4
Europe, 12.4
South and Central

America, 12.5
Asia-Pacific, 64.1
2.4 China is the largest market in terms of cumulative and annual capacity additions
China with 50.7% of annual capacity additions was the global leader in terms of capacity additions with 21.5 GW
of the annual capacity in 2016. Brazil had the second largest annual installed capacity after China with a share of
8.7% in 2016. The country added 3.7 GW of the annual capacity in the same year. Brazil is followed by India with
the addition of 2.1 GW of the annual capacity in 2016.
China is also the leader in terms of total installed capacity; the country had 340.9 GW of cumulative capacity as
of 2016. The US had the second largest total capacity installed after China. The cumulative hydropower capacity
of the US was 100.6 GW in 2016 and in the following year total capacity is expected to reach 100.8 GW. Other
countries such as Brazil and Canada had 95.4 GW and 79.4 GW of the total installed capacities, respectively, in
2016.
20
The following figure and table illustrate the key countries installed capacity in 2016.
Figure 3: Hydropower Market, Key Countries, Installed Capacity (GW), 2016

400 25
350
20
300
Cumulative installed (GW)
Annual installed (GW)

250
15
200
10
150
100
5
50
0 0
China United Brazil Canada Russia Japan India Norway Turkey Vietnam Iran
States
Cumulative Annual
Table 1: Hydropower Market, Key Countries, Installed Capacity (GW), 2016

Country Cumulative Installed Annual Installed
China 340.9 21.5
United States 100.6 0.5
Brazil 95.4 3.7
Canada 79.4 0.1
Russia 53.2 1.4
Japan 49.5 0.3
India 49.2 2.1
Norway 31.7 0.3
Turkey 27.2 1.4
Vietnam 17.6 1.1
Iran 13.4 1.8
21
2.5 Global Hydropower Investment is Set to Reach $86.2 billion by 2025
Global hydropower market size increased from $33.8 billion in 2006 to $63.6 billion in 2016 at a CAGR of 6.5%.
During the 2017–2025 forecast period the hydropower market size is expected to increase from $70.9 billion to
$86.2 billion. A major boost in the investment is expected due to increase in the capacity installations, led by
countries such as China, Brazil, and India as well as emerging countries in the Asia-Pacific, Middle East and
Africa (MEA), and South and Central America (SCA) regions. During the period from 2017 to 2025, average annual
hydropower market size is expected to be $78.6 billion.
The following figure illustrates the global hydropower market size during 2010–2025 period.
Figure 4: Hydropower Market, Global, Market Size, 2010–2025

100
90 86.2
81.5
80
70
63.6
Marekt size ($bn)
60
50 47.0
40
30
20
10
0
2010 2016 2020 2025
22
3 Introduction
Hydropower is one of the most widely used renewable resources for the generation of clean power globally.
Based on the head and water storage capacity, hydropower projects are categorized as:
• Low-head high-storage hydropower project
• High-head low-storage hydropower project
• Run-of-the-river hydropower project
• Pumped storage hydropower project
Based on the installed capacity, hydropower projects are categorized as large-scale hydro projects, small-scale
hydro projects, and micro hydro projects. The major advantage of the hydropower plant over other technologies
is its power generation flexibility. Due to this flexibility, hydropower is used to overcome shortages during
periods of peak power demand or power loss, thereby maintaining grid stability. Hydropower technology is also
considered preferable to other renewable sources, as it releases fewer Greenhouse Gas (GHG) emissions during
power generation.
The global hydropower market is a mature market with companies deploying large-scale projects as most
countries are highly dependent upon their hydropower resources. As a result of government support in the form
of green tariff schemes and renewable mandates, the hydropower sector is registering substantial development.
However, long lead times, project design, planning and approval processes, as well as the time required to
secure financing for these large multi-year construction projects, mean that capacity growth is more likely to be
slow and steady than rapid. Although hydropower projects have high upfront costs and longer construction
periods compared with other technologies, they have low operation and maintenance costs.
Hydropower projects are totally dependent upon water resources and most of the dams are filled by
precipitation or rainwater. During drought conditions, such dams are insufficiently filled with water to generate
hydropower, thereby making it difficult to maintain an uninterrupted power supply. However, during periods of
peak power demand, hydropower in certain regions provides surplus power, thereby contributing toward grid
stability and reliability.
Pumped storage in hydropower is a well-known energy storage technology. The rapid growth of renewable
energy capacity in the grid is acting as a driver for the growth of pumped storage installations. Many countries,
where the penetration of renewable power into grid is already high, or there are plans for the large-scale
integration of renewable capacity into the grid, are planning to ramp up their pumped storage capacity at the
same pace. Even companies with substantial wind installations are also looking to develop their own pumped
storage plants in order to optimize their renewable energy sources. The grid-friendly characteristics of pumped
23
storage, such as frequency–voltage balancing, reserve generation, and the optimization of baseloads together
with renewable energy integration, will certainly help in attracting future investment.
The installation of large hydropower projects typically takes five or six years, while the installation of small
hydropower projects typically takes between two and four years from project announcement to commissioning.
Figure 5: Hydropower Market, Global, Value Chain
Pre-construction Component Project Grid Operations &

Supply Development connectivity Maintenance
•Feasibility Studies •Hydro Turbines •Dam

•Transmission •Scheduled
•Permissions •Generators Construction
•Distribution to Maintenance
•Regulatory Licenses •Pumps •Insurance
end- users •Repairs and
•Financing •Control Systems •Project
refurbishment
•Technology uptake •Other Commissioning
Components
Source: GlobalData
3.1 GlobalData Report Guidance
• The report begins with an executive summary, which provides a snapshot of the key indicators in the global
hydropower market.
• The “Introduction” provides an overview of hydropower technology and the value chain of the hydropower
sector.
• Chapter four details global hydropower developments between 2006 and 2016 and expected market trends
during the forecast period from 2017 to 2025. The chapter includes a global hydropower overview,
hydropower installed capacity broken down into large hydro, small hydro, and pumped storage, power
generation, and the installed capacity shares. The chapter also includes investment trends in global
hydropower power projects. It also highlights the key market drivers and challenges for the global
hydropower market.
• Chapter five covers the North American region. The countries covered in the region are the US and Canada.
Each regional chapter contains an overview of the hydropower market, hydropower installed capacity, a
breakdown of installed capacity by large hydro, small hydro, and pumped storage, and hydropower
generation data. The chapter also describes the regional hydropower market size.
24
• Chapters six and seven cover the US and Canada in the North American region. Each chapter contains an
overview of the hydropower market, hydropower installed capacity, a breakdown of installed capacity by
large hydro, small hydro, and pumped storage, and power generation data. The chapter also analyzes the
hydropower market for both countries. The chapters end with the major active and upcoming hydropower
projects, investment trends, and the major hydropower policies in the country.
• Chapter eight covers the South and Central American region. The chapter contains an overview of the
hydropower market, hydropower installed capacity, and breakdown of installed capacity by large hydro,
small hydro, and pumped storage, and power generation data.The chapter also describes the hydropower
market size in the region.
• Chapter nine covers Brazil in the South American region. The chapter contains an overview of the
hydropower market, hydropower installed capacity, a breakdown of installed capacity by large hydro, small
hydro, and pumped storage, and power generation data. The chapter also analyzes hydropower market
trends for the country. The chapter ends with the major active and upcoming hydropower projects,
investment trends, and the major hydropower policies in the country.
• Chapter 10 covers the European region. The chapter contains an overview of the hydropower market,
hydropower installed capacity, a breakdown of installed capacity by large hydro, small hydro, and pumped
storage, and power generation data. The chapter also describes the hydropower market size in the region.
• Chapters 11, 12, and 13 cover countries in the European region. The countries covered in the region are
Russia, Norway, and Turkey. Each chapter contains an overview of the hydropower market, hydropower
installed capacity, a breakdown of installed capacity by large hydro, small hydro, and pumped storage, power
generation data. The chapter also analyzes hydropower market trends for each country. The chapter ends
with the major active and upcoming hydropower projects, investment trends, and the major hydropower
policies in the country.
• Chapter 14 covers Asia-Pacific region. The chapter describes an overview of the hydropower market,
hydropower installed capacity, and the breakdown of the installed capacity by large hydro, small hydro, and
pumped storage.
• Chapters 15, 16, 17, and 18 cover China, Japan, India, and Vietnam, respectively. Each chapter contains an
overview of the hydropower market, hydropower installed capacity, a breakdown of installed capacity by
large hydro, small hydro, and pumped storage, and power generation data. The chapter also analyzes
hydropower market trends for each country. The chapter ends with the major active and upcoming
hydropower projects, investment trends, and the major hydropower policies in the country.
25
• Chapter 19 covers Middle East and Africa region. The chapter describes an overview of the hydropower
market, hydropower installed capacity, and the breakdown of the installed capacity by large hydro, small
hydro, and pumped storage.
• Chapter 20 covers Iran. It contains an overview of the hydropower market, hydropower installed capacity, a
breakdown of installed capacity by large hydro, small hydro, and pumped storage, power generation data.
The chapter also analyzes hydropower market trends for the country. The chapter ends with the major
active and upcoming hydropower projects, investment trends, and the major hydropower policies in the
country.
26
4 Hydropower Market, Global
4.1 Hydropower Market, Global, Overview
Hydropower is one of the most widely used and oldest power generating sources, accounting for 18.6% of the
total power installed capacity in 2016. Even though fossil fuels dominate electricity generation across the world,
more than 60 countries use hydropower to meet majority of their electricity needs. It is the most popular non-
polluting source of electricity generation in the world, for reasons which include its ability to instantaneously
respond to changing electricity demand, and water management and flood control. The cumulative installed
capacity for hydropower was 1,211.3 Gigawatts (GW) in 2016. The global hydropower market witnessed
continuous growth in 2016 with an addition of nearly 42.5 GW of capacity, with a year-on-year growth of 3.6%.
Large hydropower plants usually support baseload power, while pumped storage plants are used to meet the
peak power demand and currently storage hydropower accounts for more than 90% of the global energy storage
capacity. In 2016, large hydro segment accounted for 75.8% of the total hydropower installed capacity, while
pumped storage and small hydro held a share of 12.6% and 11.6%, respectively.
The concern for clean, reliable, and affordable power is the foremost factor for the hydropower market growth.
In September 2015 new international policies like UN Sustainable Development Goals (SDGs) were adopted
superseding the millennium development goals. Among the 17 adopted SDGs, the specific goal related to energy
is “access to affordable, reliable, sustainable, and modern energy for all”, which thus calls for substantial
increase in the share of renewable by 2030 and is an important factor for the renewable energy development.
The historic agreement at the Paris Conference of the Parties (COP) committed the world to an ambitious target
to hold the increase in the global average temperature to well below 2°C and to pursue efforts to limit the
temperature increase to 1.5°C. Also, the key theme of COP22 was how best to create a fair “rulebook” that all
countries could share and have confidence in when assessing each other’s climate pledges. COP22 was the first
stop after Paris and it needs to cover and take up the issues to make Paris work and be implemented. Hence, it is
important that the world would increase its investment in low carbon and renewable energy sources thus
including hydropower additions
Hydropower is currently receiving a substantial amount of support from various governments around the world,
through favorable policies and incentives. For instance, the Chinese government set a target for the
achievement of 260 GW of hydropower installed capacity (excluding pumped storage) by 2015 in its 12th Five-
Year Plan (FYP) which the country achieved on time. Other policies and programs in China to promote
hydropower include the Brightness Program, financial incentives such as tax exemptions, and rural
electrification policies for the development of small hydropower in the country. Major policy support and
financial incentives for hydropower in the US are production tax credits and hydroelectric efficiency
improvement incentives. In Japan, subsidies are offered on a share of construction costs for the development of
27
small- and medium-sized hydroelectric power plants. India has a Small Hydropower Program (SHPP) in place,
which aims to install 7 GW of cumulative small hydropower by the end of FY2017. The country offers central
financial assistance for the development, renovation, and modernization of hydropower projects. Preferential
Feed-in Tariffs (FITs) are also provided by various state governments for the adoption of small hydro technology
in India. In Norway, under the 2003 strategy for small-scale hydropower, a regulation is in place for the
promotion of hydropower in the country. According to this regulation, hydropower plants with less than 5 MW of
capacity are exempt from natural resources and ground rent taxes.
Hydropower projects are totally dependent on water resources, meaning that in drought conditions it is difficult
to maintain an uninterrupted power supply. However, during peak power demand, hydropower can provide
surplus power, thus contributing toward grid stability and reliability.
The rapidly increasing renewable energy capacity in the grid is acting as a driver for the growth of pumped
storage hydropower installations. Many countries which already have significant penetration of renewable in
their grid or which intend to add significant renewable capacity are planning to ramp up their pumped storage
capacity at the same pace. Even companies with larger wind installations are also looking to develop their own
pumped storage plants to optimize sources of renewable energy. The grid-friendly characteristics of pumped
storage such as frequency–voltage balancing, reserve generation, and optimization of baseloads combined with
renewable energy integration will certainly help it to attract future investment. Global hydropower market growth
in 2016 was largely driven by the continued expansion of generation capacity in China, India, the US, Sweden,
and Canada, all of which recorded impressive growth rates during the 2006–2016 historic period. China is the
largest hydropower market in the world with a cumulative installed capacity of 340.9 GW in 2016.
4.2 Hydropower Market, Global, Installed Capacity, 2006–2025
The global hydropower installed capacity increased from 864.0 GW in 2006 to 1,211.3 GW in 2016. This growth
was largely driven by favorable government policies in many countries such as China, the US, Canada, Brazil,
and India. During 2017–2025 forecast period, the installed capacity is expected to increase from 1,256.7 GW to
1,691.8 GW, at a CAGR of 3.8%. The hydro capacity installations are driven by financial incentives, policy support
programs, tax credits, and duty waivers on imported equipment.
Some 23.0 GW of annual additions was registered in 2006, and in 2016 the annual installed capacity increased to
42.5 GW. During 2017–2025, the annual capacity installations are expected to increase from 45.3 GW to 57.9 GW
with an average annual hydro installation of 53.4 GW.
28
The figure and table below illustrate cumulative global hydropower installed capacity during 2006–2025.
Figure 6: Hydropower Market, Global, Installed Capacity (GW), 2006–2025

1,800 4.5
1,600 4.0
1,400 3.5
Installed Capacity (GW)
1,200 3.0
Growth (%)
1,000 2.5
800 2.0
600 1.5
400 1.0
200 0.5
0 0.0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
Net annual addition Cumulative installed capacity Year–on–Year growth rate
29
Table 2: Hydropower Market, Global, Installed Capacity (GW), 2006–2025

Year Net annual addition Cumulative installed capacity Year-on-Year growth rate (%)
2006 23.0 864.0 –
2007 32.0 896.0 3.7
2008 32.9 928.8 3.7
2009 36.2 965.1 3.9
2010 34.0 999.1 3.5
2011 33.6 1,032.7 3.4
2012 34.7 1,067.4 3.4
2013 27.9 1,095.3 2.6
2014 37.2 1,132.5 3.4
2015 36.3 1,168.8 3.2
2016 42.5 1,211.3 3.6
2017 45.3 1,256.7 3.7
2018 49.2 1,305.9 3.9
2019 51.4 1,357.3 3.9
2020 55.3 1,412.6 4.1
2021 52.3 1,464.9 3.7
2022 51.6 1,516.5 3.5
2023 56.9 1,573.4 3.8
2024 60.5 1,634.0 3.8
2025 57.9 1,691.8 3.5
4.3 Hydropower Market, Global, Installed Capacity, By Type, 2006–2025
4.3.1 Hydropower Market, Global, Cumulative Installed Capacity, By Type, 2006–2025
Large hydro installed capacity increased from 660.7 GW in 2006 to 918.0 GW in 2016, at a CAGR of 3.3%. During
2017–2025, large hydro installed capacity is expected to increase from 951.1 GW to 1,228.4 GW, at a CAGR of
3.2%.
The pumped storage installed capacity increased from 113.7 GW in 2006 to 152.6 GW in 2016, at a 3.0% CAGR.
Pumped storage accounted for 12.6% of the total hydro installed capacity in 2016. The pumped storage capacity
is further expected to increase from 160.8 GW in 2017 to 280.2 GW in 2025, at a CAGR of 7.2%.
The small hydro installed capacity increased from 89.6 GW in 2006 to 140.7 GW in 2016, at a CAGR of 4.6%. Small
hydro installations accounted for 11.6% of the total cumulative hydro installed capacity in 2016. The small hydro
installations increased from 144.7 GW in 2017 to 183.3 GW in 2025 at a CAGR of 3.0%.
30
The figure and table below illustrate the cumulative installed capacity during 2006–2025 period.
Figure 7: Hydropower Market, Global, Cumulative Installed Capacity (GW), 2006–2025

1800
1600
1400
Cumulative capacity by type (GW)
1200
1000
800
600
400
200
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
Large hydro Small hydro Pumped storage
31
Table 3: Hydropower Market, Global, Cumulative Installed Capacity (GW), 2006–2025

Year Large hydro (GW) Small hydro (GW) Pumped Storage (GW)
2006 660.7 89.6 113.7
2007 682.6 94.7 118.6
2008 708.2 100.1 120.5
2009 734.4 105.8 124.8
2010 759.4 111.4 128.3
2011 784.7 116.2 131.9
2012 810.9 121.8 134.7
2013 826.6 129.9 138.8
2014 859.4 133.3 139.9
2015 888.4 136.9 143.5
2016 918.0 140.7 152.6
2017 951.1 144.7 160.8
2018 986.6 149.0 170.2
2019 1,021.7 153.4 182.2
2020 1,056.7 157.9 198.0
2021 1,090.3 162.6 212.0
2022 1,121.7 167.6 227.2
2023 1,156.2 172.7 244.6
2024 1,193.8 177.9 262.2
2025 1,228.4 183.3 280.2
32
4.3.2 Hydropower Market, Global, Annual Installed Capacity, By Type, 2006–2025
Large hydro annual additions increased from 14.7 GW in 2006 to 29.6 GW in 2016, at a CAGR of 7.3%. During
2017–2025 large hydro installed capacity is expected to increase from 33.1 GW to 34.6 GW, respectively, at a
CAGR of 0.5%.
The pumped storage installed capacity increased from 2.8 GW in 2006 to 9.1 GW in 2016 at a CAGR of 12.6%.
During 2017–2025 it is expected to increase from 8.2 GW to 17.9 GW at a CAGR of 10.2%.
The small hydro installed capacity decreased from 5.6 GW in 2006 to 3.8 GW in 2016. The small hydro annual
addition increased from 4.0 GW in 2017 to 5.4 GW in 2025 at a CAGR of 3.7% during 2017–2025 period.
The figure and table below illustrate the global annual installed capacity during 2006–2025 period.
Figure 8: Hydropower Market, Global, Annual Installed Capacity (GW), 2006–2025

70
60
Annual capacity by type (GW)
50
40
30
20
10
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024

33
Table 4: Hydropower Market, Global, Annual Installed Capacity (GW), 2006–2025

Year Large hydro (GW) Small hydro (GW) Pumped storage (GW)
2006 14.7 5.6 2.8
2007 21.9 5.1 5.0
2008 25.6 5.4 1.9
2009 26.2 5.7 4.3
2010 25.0 5.6 3.5
2011 25.3 4.7 3.6
2012 26.2 5.7 2.8
2013 15.7 8.1 4.1
2014 32.8 3.4 1.1
2015 29.0 3.7 3.6
2016 29.6 3.8 9.1
2017 33.1 4.0 8.2
2018 35.5 4.3 9.4
2019 35.0 4.4 12.0
2020 35.0 4.5 15.8
2021 33.6 4.7 14.0
2022 31.5 4.9 15.2
2023 34.5 5.1 17.4
2024 37.6 5.3 17.6
2025 34.6 5.4 17.9
34
4.4 Hydropower Market, Global, Hydropower Generation, 2006–2025
Global net generation for hydropower increased from 2,821.1 Terawatt hours (TWh) in 2006 to 3,555.9 TWh in
2016 at a CAGR of 2.3%. It is expected that generation from hydro will increase from 3,816.4 TWh in 2017 to
5,328.0 TWh in 2025, at a CAGR of 4.3%.
The following figure illustrates the global hydropower generation during 2006–2025 period.
Figure 9: Hydropower Market, Global, Hydropower Generation (TWh), 2006–2025

6,000
5,000
Generation (TWh)
4,000
3,000
2,000
1,000
0
2023
2025
2008
2011
2007
2022
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
35
Table 5: Hydropower Market, Global, Hydropower Generation (TWh), 2006–2025

Year Hydro generation (TWh)
2006 2,821.1
2007 2,880.9
2008 2,982.9
2009 2,954.8
2010 3,203.0
2011 3,275.6
2012 3,316.0
2013 3,407.8
2014 3,493.2
2015 3,464.3
2016 3,555.9
2017 3,816.4
2018 3,952.8
2019 4,082.2
2020 4,241.7
2021 4,517.0
2022 4,694.5
2023 4,922.8
2024 5,095.5
2025 5,328.0
36
4.4.1 Hydropower Market, Global, Generation, By Type, 2006–2025
Generation from large hydropower and pumped storage increased from 2,511.5 TWh in 2006 to 3,067.5 TWh in
2016, at a CAGR of 2.0%, while in the 2017–2025 forecast period it is expected to increase from 3,306.8 TWh to
4,601.9 TWh at a CAGR of 4.2%.
Small hydro generation increased from 309.6 TWh in 2006 to 488.4 TWh in 2016, at a CAGR of 4.7%.During 2017–
2025 forecast period, small hydropower generation is expected to increase from 509.7 TWh to 726.1 TWh at a
CAGR of 4.5%.
The following figure and table illustrate the global hydropower generation by type during 2006–2025 period.
Figure 10: Hydropower Market, Global, Hydropower Generation (TWh), By Type, 2006–2025
6000
5000
Generation by type (TWh)
4000
3000
2000
1000
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2007
2022
2010
2018
2017
2014
Large hydro and pumped storage Small Hydro
37
Table 6: Hydropower Market, Global, Hydropower Generation (TWh), By Type, 2006–2025

Year Large hydropower and pumped storage Small hydro
2006 2511.5 309.6
2007 2570.6 310.3
2008 2640.3 342.6
2009 2604.0 350.8
2010 2798.1 404.9
2011 2891.5 384.1
2012 2900.8 415.1
2013 2967.1 440.8
2014 3042.0 451.2
2015 3007.0 457.2
2016 3067.5 488.4
2017 3306.8 509.7
2018 3420.2 532.6
2019 3526.3 555.9
2020 3661.0 580.7
2021 3910.2 606.7
2022 4060.1 634.4
2023 4259.2 663.6
2024 4401.4 694.2
2025 4601.9 726.1
38
4.5 Hydropower Market, Global, Market Size ($bn), 2006–2025
Global hydropower market size increased from $33.8 billion in 2006 to $63.6 billion in 2016 at a CAGR of 6.5%.
The hydropower market size is expected to increase from $70.9 billion in 2017 to $86.2 billion by 2025 at a CAGR
of 2.5%. A major boost in investment is expected to result in an increased number of installations, led by
countries such as China, Brazil, and India as well as emerging countries in the Asia-Pacific, Middle East and
Africa (MEA), and South and Central America (SCA) regions.
The figure and table below illustrate global hydropower market in terms of value during 2006–2025 period.
Figure 11: Hydropower Market, Global, Market Size ($bn), 2006–2025

100
90
80
70
Market Size ($bn)
60
50
40
30
20
10
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2007
2022
2010
2018
2017
2014
39
Table 7: Hydropower Market, Global, Market Size ($bn), 2006–2025

Type Market Size
2006 33.8
2007 49.2
2008 41.0
2009 48.7
2010 47.0
2011 48.9
2012 50.5
2013 44.9
2014 55.4
2015 57.0
2016 63.6
2017 70.9
2018 76.8
2019 75.9
2020 81.5
2021 73.8
2022 70.6
2023 80.6
2024 91.2
2025 86.2
40
4.6 Hydropower Market, Global, Investment Trends, 2016
Hydropower Market, Global, Deal Volume vs. Deal Value, 2006–2016
Deals in hydropower sector were approximately 251, at a total value of $102.1 billion in 2016. The number
decreased from 475 in 2010 to 251 in 2016, and the total deal value decreased from $142.4 billion in 2010 to
$102.1 billion in 2016.
Figure 12:Hydropower Market, Global, Deal Volume vs. Deal Value ($bn), 2006–2016
350 1,000
900
300
800
250 700
Number of deals
Deal value ($bn)
600
200
500
150
400
100 300
200
50
100
0 0
2006
2009
2016
2013
2015
2012
2008
2011
2007
2010
2014
Deal value ($bn) Number of deals

Note: Total value is based on the amount disclosed
41
Table 8:Hydropower Market, Global, Deal Volume vs. Deal Value ($bn), 2006–2016
Year Deal value ($bn) Number of deals
2006 100.0 740
2007 146.3 841
2008 172.0 890
2009 287.6 869
2010 142.4 475
2011 199.0 463
2012 194.6 411
2013 128.6 356
2014 106.0 346
2015 99.5 334
2016 102.1 251
4.6.1 Hydropower Market, Global, Split, by Deal Type, 2016
The hydropower market recorded a total number of 251 deals during 2016, of which most were debt offerings
followed by asset transactions and equity offerings.
Figure 13: Hydropower Market, Global, Split, by Deal Type (%), 2016
Venture financing,
Private equity,
1
2
Acquisition,
10
Equity offerings,
13
Debt offerings,
49
Asset transactions,
25

Note: The above split of deals does not include partnerships
42
Table 9:Hydropower Market, Global, Deals by Type, 2016

Deal type Number
Debt offerings 121
Asset transactions 60
Equity offerings 31
Acquisition 24
Private equity 6
Venture financing 2
4.7 Hydropower Market, Global, Drivers
4.7.1 Policies and Concerns for Clean Energy Generation
The policy support and environmental concerns for clean energy generation are the important factors driving
the global hydropower market. The recently adopted UN SDGs, superseding the millennium development goals,
include a special goal related to energy which is to “ensure access to affordable, reliable, sustainable, and
modern energy for all” which encourages the share of the renewable energy by 2030.
In December 2015 the Conference of Parties to the UNFCCC agreed to reduce GHG emissions, with an aim to
limit global warming below 2°C. The major focus areas of the conference included decreasing Greenhouse Gas
(GHG) emissions, promoting sustainable development, particularly in developing countries, through the
enhanced deployment of renewable energy. The stronger pressure from the agreement and the regular review
cycle would likely help to ensure support for hydropower within renewables policy frameworks. Moreover,
regional policies and renewable energy targets are also expected to increase the hydroelectricity generation. For
instance, North American country heads in a joint statement have pledged to bring 50% of energy production
over to clean energy production by 2025.
4.7.2 Cross-Border Interconnection Could Facilitate Hydropower Generation
The cross-border interconnections play a vital role in order to meet the existing power demand, and regional and
country interconnection also provides the financial viability for the large-scale projects. In the long run the
interconnection project supports the economy of the country as well. Some of the interconnections include, for
instance, Dagachhu station in Bhutan, which will export power to India, and Sarawak hydropower in Malaysia
interlinked to West Kalimantan province in Indonesia. Northern Pass US–Canada interconnection is in planning
stage.
43
4.7.3 Increasing Power Demand
The global power demand has increased considerably from 2010. It is estimated that the global power demand is
expected to increase from 21,706,245 GWh in 2017 to 27,067,266 GWh by 2025. Meeting this demand will require
an increase in the pace of the capacity additions. The planned capacity additions would suitably need to fulfill
peak demand requirements, meet emission control, and provide the affordable power. Although electricity
demand varies from country to country, altogether the predominant focus is about building the baseload plants.
For instance, development of hydropower projects in the north eastern states would help India in fulfilling its
electricity demand. The allotment of 140 hydro-power projects to various PSUs and private power companies in
Arunachal Pradesh will help in achieving the energy security in the country and improving its energy situation.
Large and small hydropower plants are the major source for the providing the baseload power, while pumped
storage plants meet the peak power demand. The cumulative global hydropower installations witnessed 1,211.3
GW in 2016, and by 2025 the hydropower capacity installations are expected to reach 1,691.8 GW.
4.7.4 Lower Operation and Maintenance Cost
The hydropower plants are very economical in terms of operation and maintenance (O&M) cost. A typical
hydropower plant has O&M cost values in the range of 1–4%. Moreover, large hydropower projects’ O&M costs
typically average around 2–3%, while the small hydro projects have lower economies of scale and generally cost
varies from 1% to 6%.
4.8 Hydropower Market, Global, Challenges
4.8.1 Huge Project Cost
The total cost of the hydropower project is huge and requires several years to complete the project. As the size
of large hydropower projects ranges to thousands of MW, the total cost incurred by such projects is very high.
The cost of the project is directly related to the type of plant; large plants require high construction cost, and
moreover the construction period for large plant often faces clearance delays which further add to the total
project cost.
4.8.2 Issues Related to Slow Pace of Hydro Capacity Addition
Various reasons contribute to the slow pace of development of the hydro capacity. Difficult or inaccessible
potential sites, lack of infrastructural facilities, land acquisition, environment, and forest issues, resettlement and
rehabilitation problems, law and order problems, non-availability of the hydrological data, security restrictions in
border areas, and lack of skilled and adequate manpower are some issues which delay the hydropower project
development.
44
For instance, a Norwegian company has cancelled plans to build a $1.5 billion hydropower plant in Nepal in 2016.
The company, Statkraft, withdraw plans for the Tamakoshi Hydropower Project because of bureaucratic hurdles
and the fragile political situation in Nepal. Apart from this, Kyrgyz parliament officially cancelled five hydropower
plant deals in Russia in 2016. Also, in Jan 2017, European Bank for Reconstruction and Development (EBRD)
cancelled the loan of €65m to Macedonian electricity generation utility, AD Elektrarni na Makedonija (ELEM), for
construction of the 70-MW Boskov hydroelectric project on the Mala Reka River.
4.8.3 Environmental Impact
The construction of the hydropower plant varies largely with the hydroelectricity generators and the topography
of the land. Hydroelectric plants in flat areas require much more land than hilly areas. A hydroelectric reservoir
has an extreme impact: it destroys forest, wildlife habitat, agricultural land, and scenic lands. For instance, the
Three Gorges Dam in China led to relocation of entire communities living in the area in order to make way for the
reservoir. Also, in Vietnam, two Dong Nai hydropower dams cancelled due to environmental concerns; UNESCO
identified that the dam would have large negative impacts on Cat Tien National Park.
45
5 Hydropower Market, North America
5.1 Hydropower Market, North America, Overview
Cumulative installed capacity for hydropower in North America increased from 180.5 GW in 2006 to 192.1 GW in
2016. The region observed little capacity addition during the historic period as installations increased at a CAGR
of 0.6% from 2006–2016. Hydropower in the region is overshadowed by developments and support for other
renewable energy sources such as wind and solar. The countries in the region intend to reduce carbon emissions
which could be achieved by increasing the share of renewable energy in their energy mix. All the countries in the
region have rolled out their ambitious renewable energy capacity targets. Presently the region draws around 35–
37% of power from renewable energy sources. Recently in a joint statement, the heads of the US, Canada, and
Mexico pledged to bring 50% of North America’s energy production over to clean energy production by 2025
(Verge, 2016).
Globally, the US ranked second based on the cumulative installed capacity of 100.6 GW in 2016, though it had a
net capacity addition of only 504.5 MW in the same year. Canada had a net addition of 145.3 MW in the same
year and the country reached a cumulative installed capacity of 79.4 GW.
46
5.2 Hydropower Market, North America, Installed Capacity, 2006–2025
The hydropower installed capacity in North America increased from 180.5 GW in 2006 to 192.1 GW in 2016. During
2017–2025, the cumulative capacity installations are expected to increase from 192.9 GW to 219.9 GW, at a CAGR
of 1.6%.
During 2017–2025, the net annual additions are expected to increase from 0.8 GW to 5.6 GW, at a CAGR of 27.4%.
It is expected that an average of 3.1 GW of annual additions are to take place during the same period.
The figure and table below illustrate hydropower installed capacity in North America during 2006–2025 period.
Figure 14: Hydropower Market, North America, Installed Capacity (GW), 2006–2025
250 3
200 2.5
150 2
Installed capacity (GW)
Growth (%)
100 1.5
50 1
0 0.5
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
-50 0
47
Table 10: Hydropower Market, North America, Installed Capacity (GW), 2006–2025
2006 -0.1 180.5 –
2007 2.4 182.8 1.3
2008 1.0 183.8 0.5
2009 0.9 184.7 0.5
2010 0.1 184.9 0.1
2011 0.7 185.6 0.4
2012 0.7 186.3 0.4
2013 1.3 187.6 0.7
2014 2.2 189.8 1.2
2015 1.6 191.4 0.9
2016 0.7 192.1 0.4
2017 0.8 192.9 0.4
2018 1.9 194.8 1.0
2019 2.0 196.8 1.0
2020 3.4 200.1 1.7
2021 3.0 203.1 1.5
2022 2.5 205.6 1.2
2023 3.0 208.7 1.5
2024 5.5 214.2 2.7
2025 5.6 219.9 2.6
48
5.3 Hydropower Market, North America, Installed Capacity, By Type, 2006–2025
5.3.1 Hydropower Market, North America, Cumulative Installed Capacity, By Type, 2006–2025
2017–2025, installed capacity is expected to increase from 149.0 GW to 159.8 GW, at a CAGR of 0.9%.
The pumped storage installed capacity increased from 19.7 GW in 2006 to 21.8 GW in 2016, at a CAGR of 1.0%. It is
expected to increase from 21.8 GW in 2017 to 32.3 GW in 2025, at a CAGR of 5.0%.
The small hydro installed capacity increased from 20.4 GW in 2006 to 21.7 GW in 2016, at a CAGR of 0.6%. The
small hydropower cumulative capacity increased from 22.1 GW in 2017 to 27.7 GW in 2025 at a CAGR of 2.9%.
The figure and table below illustrate the annual installed capacity in North America during 2006–2025 period.
Figure 15: Hydropower Market, North America, Cumulative Installed Capacity (GW), By Type, 2006–2025
250
200
150
100
50
0
2023
2025
2008
2011
2007
2022
2018
2006
2010
2017
2021
2005
2009
2014
2016
2013
2020
2015
2019
2012
2024
49
Table 11: Hydropower Market, North America, Cumulative Installed Capacity (GW), By Type, 2006–2025
2006 140.3 20.4 19.7
2007 141.9 20.4 20.5
2008 142.8 20.5 20.5
2009 143.3 20.7 20.7
2010 143.4 20.8 20.7
2011 143.7 20.9 21.0
2012 144.3 21.0 21.0
2013 144.6 21.2 21.8
2014 146.7 21.3 21.8
2015 148.2 21.4 21.8
2016 148.6 21.7 21.8
2017 149.0 22.1 21.8
2018 150.4 22.7 21.8
2019 150.9 23.2 22.7
2020 152.4 23.7 24.0
2021 153.4 24.3 25.4
2022 153.7 25.0 26.9
2023 154.4 25.8 28.4
2024 157.2 26.8 30.2
2025 159.8 27.7 32.3
50
5.3.2 Hydropower Market, North America, Annual Installed Capacity, By Type, 2006–2025
No annual capacity additions were witnessed in large hydropower segment in 2006 and around 0.39 GW
capacity addition was recorded in 2016. The large hydropower installed capacity is expected to increase from
0.39 GW in 2017 to 2.60 GW in 2025.
In pumped storage segment, no annual capacity additions were witnessed during 2014–2016. The pumped
storage installed capacity is expected to reach 2.07GW by 2025.
Small hydro annual installed capacity increased from 0.08 GW in 2006 to 0.29 GW in 2016. It is expected to
increase from 0.40 GW in 2016 to 0.98 GW in 2025.
The following figure and table illustrate annual installed capacity for hydropower in North America during the
period 2006–2025.
Figure 16: Hydropower Market, North America, Annual Installed Capacity (GW), By Type, 2006–2025
6.0
5.0
4.0
3.0
2.0
1.0
0.0
2006
2021
2005
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
-1.0
51
Table 12: Hydropower Market, North America, Annual Installed Capacity (GW), By Type, 2006–2025
Year Large hydro (GW) Small hydro (GW) Pumped Storage (GW)
2006 -0.27 0.08 0.04
2007 1.55 0.05 0.79
2008 0.94 0.02 –
2009 0.50 0.25 0.18
2010 0.03 0.09 –
2011 0.34 0.09 0.28
2012 0.57 0.13 0.04
2013 0.39 0.14 0.74
2014 2.03 0.15 –
2015 1.55 0.09 –
2016 0.39 0.29 –
2017 0.39 0.40 0.02
2018 1.36 0.56 –
2019 0.57 0.51 0.87
2020 1.49 0.56 1.31
2021 1.00 0.58 1.41
2022 0.32 0.71 1.50
2023 0.69 0.81 1.53
2024 2.79 0.92 1.83
2025 2.60 0.98 2.07
52
5.4 Hydropower Market, North America, Hydropower Generation, 2006–2025
Net generation for hydropower in North America declined from 664.4 TWh in 2006 to 644.7 TWh in 2016. During
2017–2025, it is expected to increase from 652.6 TWh to 731.4 TWh.
The following figure and table illustrate hydropower generation in North America during 2006–2025 period.
Figure 17: Hydropower Market, North America, Hydropower Generation (TWh), 2006–2025
800
700
600
500
Generation (TWh)
400
300
200
100
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2005
2009
2014
2016
2013
2020
2015
2019
2012
2024
53
Table 13: Hydropower Market, North America, Hydropower Generation (TWh), 2006–2025
2006 664.4
2007 633.6
2008 663.2
2009 662.7
2010 642.0
2011 723.4
2012 681.8
2013 683.8
2014 689.2
2015 638.4
2016 644.7
2017 652.6
2018 660.2
2019 667.4
2020 675.5
2021 687.3
2022 692.2
2023 699.0
2024 715.6
2025 731.4
54
5.4.1 Hydropower Market, North America, Generation, By Type, 2006–2025
Generation from large hydropower and pumped storage declined from 586.2 TWh in 2006 to 566.4 TWh in 2016.
During 2017–2025, it is expected to increase from 572.6 TWh to 630.0 TWh at a CAGR of 1.2%.
Small hydro generation increased from 78.1 TWh in 2006 to 78.3 TWh in 2016. During 2017–2025, it is expected to
increase from 79.9 TWh to 101.3 TWh.
The following figure and table illustrate the hydropower generation in North America during 2006–2025 period.
Figure 18: Hydropower Market, North America, Hydropower Generation (TWh), 2006–2025
800
700
600
500
400
300
200
100
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2005
2009
2014
2016
2013
2020
2015
2019
2012
2024
Large hydro and pumped storage Small hydro
55
Table 14: Hydropower Market, North America, Hydropower Generation (TWh), By Type, 2006–2025
Year Large hydro and pumped storage Small hydro
2006 586.2 78.1
2007 564.9 68.7
2008 590.2 73.0
2009 581.0 81.7
2010 564.4 77.6
2011 638.9 84.5
2012 608.4 73.4
2013 605.0 78.8
2014 612.8 76.3
2015 561.4 77.0
2016 566.4 78.3
2017 572.6 79.9
2018 577.7 82.4
2019 583.1 84.3
2020 589.0 86.5
2021 598.7 88.6
2022 600.8 91.3
2023 604.6 94.4
2024 617.8 97.8
2025 630.0 101.3
56
5.5 Hydropower Market, North America, Market Size ($bn), 2006–2025
Market size of hydropower increased from $0.3 billion in 2006 to $1.8 billion in 2016 at a CAGR of 18.9%. During
2017–2025, it is expected to increase from $2.3 billion to $14.4 billion at a CAGR of 25.9%.
The following figure and table illustrate the hydropower market size in North America during the period 2006–
2025.
Figure 19: Hydropower Market, North America, Market Size ($bn), 2006–2025
16.0
14.0
12.0
10.0
Market size ($bn)
8.0
6.0
4.0
2.0
0.0
2006
2021
2005
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
57
Table 15: Hydropower Market, North America, Market Size ($bn), 2006–2025
Type Market Size
2006 0.3
2007 6.0
2008 2.4
2009 2.4
2010 0.5
2011 2.0
2012 1.9
2013 3.3
2014 5.3
2015 4.7
2016 1.8
2017 2.3
2018 4.8
2019 5.0
2020 8.7
2021 7.7
2022 6.6
2023 7.9
2024 14.1
2025 14.4
58
6 Hydropower Market, US
6.1 Hydropower Market, US, Overview
The US is the second largest cumulative hydropower capacity after China. The total hydropower installed
capacity of the country is 100.6 GW in 2016. The net change in the installations remained positive since 2014.
The hydropower generation currently nearly accounts for the half of the total renewable electricity mix .The
growth is influenced by concerns for the carbon emissions which are supported by financial incentives and
policies like renewable portfolio standards and regional GHG initiatives. The country’s hydropower has been in
use for more than a century and has provided clean, affordable, reliable, and renewable electricity.
The growth of the hydropower market in the US is supported by the financial incentives and policies introduced
by the government such as production tax credits, treasury grants, subsidies, hydroelectric efficiency
improvement and production incentives, and Renewable Portfolio Standard (RPS) in various US states. Extension
of the production and investment tax credits passed in December 2015, as part of the Consolidated
Appropriations Act of 2016, applies to qualified hydropower plants whose construction started in 2015 and 2016.
The Water Power Program supports the hydropower industry and complements existing investments through
the development and deployment of new technologies and key components, as well as by identifying the key
opportunity areas through which hydropower generation can be enhanced. In addition to the conventional
hydropower, pumped-storage hydropower is an important piece of the US Department of Energy’s (DOE)
renewable energy portfolio because it acts as utility-scale grid storage technology. The Water Power Program
may play a vital and catalytic role in demonstrating the benefits of pumped-storage hydropower. Converting
non-powered facilities to electricity generating units provides huge opportunity for the near term growth in the
country’s hydropower industry.
The objective of the Environmental Protection Agency’s (EPA) proposed Clean Power Plan is to reduce CO 2
emission from US power plants 32% below 2005 levels. It was published in October 2015 but its future is quite
uncertain as Supreme Court put it on hold in February 2016. Policy priorities differ from state to state, with some
regions of the country moving more assertively on clean and renewable energy programs than others.
In case of the ownership of the hydropower plants federal agencies accounts for almost half of the total
capacity, while publicly owned utilities, state agencies, and co-operatives own nearly a quarter of the total
capacity of the plant, and the remaining quarter of the total installed capacity belongs to private owners. The
country presently has 80,000 dams; out of these only 3–4% have electricity generating equipment installed
(IHA, 2016b).
Although there is a huge potential for the hydropower development in the US, investment remained low due to
uncertainties in policies and the regulatory environment, and further social and environmental challenges have
59
also dissuaded new development in some areas of the US. During the forecast period, hydropower installed
capacity is expected to increase from 100.8 GW in 2017 to 115.8 GW in 2025 at a 1.8% CAGR. The hydropower
projects such as Smithland, Red Rock, and Lake Livingston are some of the upcoming hydro projects in the
country. The 2 GW Longview Pumped Storage is the largest hydropower plant expected to become operational
during the forecast period.
6.2 Hydropower Market, US, Installed Capacity, 2006–2025
The hydropower installed capacity in the country increased from 97.2 GW in 2006 to 100.6 GW in 2016. During
2017–2025, the cumulative capacity installations are expected to increase from 100.8 GW to 115.8 GW at a CAGR
of 1.8%.
During 2017–2025, the net capacity additions are expected to increase from 168.5 MW to 2.9 GW. It is expected
that an average of 1.7 GW of annual additions are to take place during the same period.
The figure and table below illustrate hydropower installed capacity in the country during 2006–2025 period.
Figure 20: Hydropower Market, US, Installed Capacity (GW), 2006–2025

120.00 3.0
100.00 2.5
80.00 2.0
Growth (%)
60.00 1.5
40.00 1.0
20.00 0.5
0.00 0.0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
60
Table 16: Hydropower Market, US, Installed Capacity (GW), 2006–2025

Year Net annual additions Cumulative installed capacity Year-on-Year growth rate (%)
2006 0.02 97.2 –
2007 0.8 98.0 0.8
2008 0.02 98.0 0.02
2009 0.2 98.3 0.2
2010 0.02 98.3 0.0
2011 0.4 98.7 0.4
2012 0.4 99.1 0.4
2013 1.0 100.1 1.0
2014 0.01 100.1 0.01
2015 0.05 100.1 0.05
2016 0.5 100.6 0.5
2017 0.2 100.8 0.2
2018 0.4 101.2 0.4
2019 1.0 102.2 1.0
2020 1.8 104.0 1.8
2021 2.0 106.0 1.9
2022 2.2 108.1 2.0
2023 2.2 110.4 2.1
2024 2.6 113.0 2.4
2025 2.9 115.8 2.5
61
6.3 Hydropower Market, US, Installed Capacity, By Type, 2006–2025
6.3.1 Hydropower Market, US, Cumulative Installed Capacity, By Type, 2006–2025
Large hydro installed capacity increased from 60.8 GW in 2006 to 61.8 GW in 2016, at a CAGR of 0.2%. During the
The small hydro installed capacity increased from 16.8 GW in 2006 to 17.3 GW in 2016 at a CAGR of 0.3%. The
The following figure and table illustrate the cumulative hydropower installed capacity in the country during the
period 2006–2025.
Figure 21: Hydropower Market, US, Cumulative Installed Capacity (GW), By Type, 2006–2025
140
120
100
80
60
40
20
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014

62
Table 17: Hydropower Market, US, Cumulative Installed Capacity (GW), By Type, 2006–2025
2006 60.8 16.8 19.6
2007 60.8 16.8 20.4
2008 60.8 16.9 20.4
2009 60.8 16.9 20.5
2010 60.8 16.9 20.5
2011 60.9 16.9 20.8
2012 61.2 17.0 20.9
2013 61.4 17.0 21.6
2014 61.4 17.0 21.6
2015 61.5 17.1 21.6
2016 61.8 17.3 21.6
2017 61.7 17.5 21.6
2018 61.8 17.8 21.6
2019 61.9 18.2 22.1
2020 62.0 18.6 23.4
2021 62.0 19.2 24.8
2022 62.0 19.8 26.3
2023 62.0 20.5 27.8
2024 62.0 21.3 29.7
2025 62.0 22.1 31.7
63
6.3.2 Hydropower Market, US, Annual Installed Capacity, By Type, 2006–2025
No annual capacity additions were witnessed in large hydropower segment during 2006–2010 and in 2016
around 330.2 MW capacity additions were recorded.
In pumped storage segment, no annual capacity additions were witnessed during 2014–2016. New capacity
additions in the segment are expected from 2017 onwards and it is expected that in 2025 around 2.07 GW
capacity will be installed.
The following figure and table illustrate annual installed capacity for hydropower in the country during the period
2006–2025.
Figure 22: Hydropower Market, US, Annual Installed Capacity (GW), By Type, 2006–2025
3.50
3.00
2.50
2.00
1.50
1.00
0.50
0.00
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
-0.50
64
Table 18: Hydropower Market, US, Annual Installed Capacity (GW), By Type, 2006–2025
2006 – 0.02 –
2007 – 0.02 0.79
2008 – 0.02 –
2009 – 0.03 0.18
2010 – 0.02 –
2011 0.12 0.04 0.28
2012 0.24 0.10 0.04
2013 0.23 0.00 0.74
2014 0.02 0.00 –
2015 0.02 0.03 –
2016 0.33 0.17 –
2017 -0.09 0.23 0.02
2018 0.09 0.30 –
2019 0.15 0.39 0.47
2020 0.02 0.46 1.31
2021 0.01 0.55 1.41
2022 0.02 0.63 1.50
2023 0.02 0.70 1.53
2024 0.01 0.76 1.83
2025 – 0.79 2.07
65
6.4 Hydropower Market, US, Hydropower Generation, 2006–2025
Net generation for hydropower in the country declined from 282.7 TWh in 2006 to 246.6 TWh in 2016. It is
expected that generation from hydro will increase from 250.4 TWh in 2017 to 284.0 TWh in 2025, at a CAGR of
1.6%.
The following figure and table illustrate hydropower generation in the country during 2006–2025 period.
Figure 23: Hydropower Market, US, Hydropower Generation (TWh), 2006–2025

350
300
250
Generation (TWh)
200
150
100
50
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
66
Table 19: Hydropower Market, US, Hydropower Generation (TWh), 2006–2025

2006 282.7
2007 240.6
2008 248.5
2009 268.8
2010 254.7
2011 312.9
2012 271.3
2013 264.2
2014 253.5
2015 245.8
2016 246.6
2017 250.4
2018 254.9
2019 259.3
2020 262.8
2021 266.6
2022 270.6
2023 274.9
2024 279.5
2025 284.0
67
6.4.1 Hydropower Market, US, Hydropower Generation, By Type, 2006–2025
Generation from large hydropower and pumped storage decreased from 221.9 TWh in 2006, to 189.5 TWh in
2016. During 2017–2025, it is expected to increase from 192.3 TWh to 207.8 TWh at a CAGR of 1.0%.
The generation through small hydro declined from 60.8 TWh in 2006 to 57.1 TWh in 2016. During 2017–2025, it is
expected to increase from 58.1 TWh to 76.2 TWh at a CAGR of 3.4%.
The following figure and table illustrate the hydropower generation in the country during 2006–2025 period.
Figure 24: Hydropower Market, US, Hydropower Generation (TWh), By Type, 2006–2025
350
300
250
200
150
100
50
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
68
Table 20: Hydropower Market, US, Power Generation (TWh), By Type, 2006–2025
2006 221.9 60.8
2007 189.4 51.3
2008 192.8 55.7
2009 206.2 62.6
2010 195.9 58.8
2011 247.6 65.3
2012 217.2 54.1
2013 205.3 58.9
2014 197.8 55.7
2015 189.6 56.2
2016 189.5 57.1
2017 192.3 58.1
2018 195.5 59.4
2019 198.3 61.1
2020 199.9 62.9
2021 201.5 65.1
2022 203.1 67.5
2023 204.6 70.3
2024 206.4 73.2
2025 207.8 76.2
69
6.5 Hydropower Market, US, Market Size ($bn), 2006–2025
The following figure and table illustrate the hydropower market size in the country during the period 2006–2025.
Figure 25: Hydropower Market, US, Market Size ($bn), 2006–2025

8.0
7.0
6.0
Market size ($bn)
5.0
4.0
3.0
2.0
1.0
-
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2007
2022
2010
2018
2017
2014
70
Table 21: Hydropower Market, US, Market Size ($bn), 2006–2025

Type Market Size
2006 0.06
2007 2.1
2008 0.05
2009 0.6
2010 0.06
2011 1.2
2012 1.0
2013 2.6
2014 0.04
2015 0.1
2016 1.3
2017 0.7
2018 1.0
2019 2.6
2020 4.7
2021 5.2
2022 5.6
2023 5.9
2024 6.8
2025 7.5
71
6.6 Hydropower Market, US, Major Tenders, 2016
The following table illustrates some of the major tenders in the US in 2016.
Table 22: Hydropower Market, US, Major Tenders,2016

Response
Announcement
Description Segment Category Status Client Company End/ Contract
Date
Award Date
Duke Energy Carolinas, LLC
Duke Energy
Oct 24, 2016 Invites RFP For EPC Of Solar And Power Plant Construction Closed Nov 28, 2016
Carolinas, LLC
Other Renewable Energy Projects
Alabama Power Company Invites Power
Presolicitation For Turnkey Plant;Electric Alabama Power
Sep 27, 2016 Construction Presolicitation Oct 14, 2016
Installation Of Renewable Energy ity Company
Projects Procurement
Power
Alabama Power Company Invites
Plant;Electric Alabama Power
Sep 27, 2016 RFP For Turnkey Installation Of Construction Closed Nov 15, 2016
ity Company
Renewable Energy Projects
Procurement
U.S. Army Invites Tenders For
T&D Supply &
June 27, 2016 Installation Of Switchgear At J Closed U.S. Army Jul 20, 2016
Equipment Erection
Strom Thurmond Power Plant
U.S. Army Invites Tenders For
Installation Of Transformer And T&D Supply &
March 07, 2016 Closed U.S. Army Mar 24, 2016
Other Related Work At West Point Equipment Erection
Lake Hydro Power Plant
U.S. Army Invites Presolicitation
For Supply Of
40,000/53,333/66,667kVA;
T&D Supply &
Feb 24, 2016 230kV/132.8kV Single-Phase Presolicitation U.S. Army Mar 18, 2016
Equipment Erection
Generator Step-Up (GSU) Power
Transformer At McNary Hydro
Power Plant
U.S. Army Invites Presolicitation
For Installation Of Transformer T&D Supply &
Feb 04, 2016 Presolicitation U.S. Army Feb 24, 2016
And Other Related Work At West Equipment Erection
Point Lake Hydro Power Plant
72
6.7 Hydropower Market, US, Major Contracts, 2016
The following table illustrates some of the major contracts in the US in 2016.
Table 23: Hydropower Market, US, Major Contracts, 2016

Response
Announcement Client
Description Segment Category Status End/ Contract
Date Company
Award Date
Andritz To Rehabilitate Valves At Repair,
Generation U.S Bureau of 2016
Dec 30, 2016 2078 MW Hoover Dam Hydro Power Maintenance, Signed
Equipment Reclamation
Plant In The United States Upgrade & Others
Green Mountain Power Signs A Long
Green
Term Power Purchase Agreement
Electricity Mountain
Sep 21, 2016 With EGP-NA For Power From Electricity Supply Signed 2016
Procurement Power
Sheldon Hydro Power Plant In
Corporation
Vermont, U.S.
Green Mountain Power Signs A Long
Green
Term Power Purchase Agreement
Electricity Mountain
Sep 21, 2016 With EGP-NA For Power From Electricity Supply Signed 2016
Procurement Power
Ticonderoga Hydro Power Plant In
Corporation
New York, U.S.
American Hydro To Replace And
Update Equipment For Pump Repair, U.S.
Generation
Aug 22, 2016 Generating Units 5 And 6 At John W. Maintenance, Signed Department Aug 11, 2016
Equipment
Keys III Pump Generating Plant In Upgrade & Others of the Interior
Washington, U.S.
Koontz Electric To Upgrade And
Replace Main Power Distribution Repair, US Army
Jul 28, 2016 Equipment At West Point Dam & T&D Equipment Maintenance, Signed Corps of 2016
Powerhouse In West Point, Georgia, Upgrade & Others Engineers
United States
Voith To Rehabilitate Priest Rapids Repair, Grant County
Generation
Jul 13, 2016 Hydropower Plant In Mattawa, Maintenance, Signed Public Utility 2016
Equipment
United States Upgrade & Others District
Mavel Americas To Supply Kaplan
Whitman
Turbine For 145kW Crocker Pond Generation
Jul 11, 2016 Supply & Erection Signed River Dam 2016
Small Hydroelectric Plant In Equipment
Inc.
Massachusetts, United States
Toshiba America Energy Systems To
Repair, U.S.
Overhaul Generator And Replace Generation
Jun 13, 2016 Maintenance, Signed Department Jun 10, 2016
Excitation Systems For Wayne N. Equipment
Upgrade & Others of the Interior
Aspinall Unit In United States
Koontz Electric To Replace
U.S.
Excitation Systems In The Three Generation
May 24, 2016 Supply & Erection Signed Department 2016
Generating Units At Flaming Gorge Equipment
of the Interior
Power Plant In United States
73
6.8 Hydropower Market, US, Major Active Plants, 2016
The following table illustrates the major active plants in the US in 2016.
Table 24: Hydropower Market, US, Major Active Plants, 2016

Plant River/Basin Capacity (MW) Owner Year Online
Meldahl Hydro Project Ohio 105 American Municipal Power, Inc.; City of Hamilton 2016
Cannelton Ohio 87.9 American Municipal Power, Inc. 2016
Willow Island Ohio 44 American Municipal Power, Inc. 2016
Allison Allison Lake 6.5 Copper Valley Electric Association, Inc. 2016
6.9 Hydropower Market, US, Major Upcoming Plants, 2017–2025
The following table illustrates the US major upcoming power plants during 2017–2025.
Table 25: Hydropower Market, US, Major Upcoming Plants, 2017–2025

Capacity
Plant River/Basin Owner Year Online
(MW)
Longview Pumped Storage – 2000 – 2021
Eagle Crest Energy Company,
Eagle Mountain – 1300 2020
Inc.
Parker Knoll – 1000 Parker Knoll Hydro, LLC 2020
Banks Lake and Franklin D.
Banks Lake 500 Columbia Basin Hydropower 2025
Roosevelt Lake
South Slope Pumped Storage Phantom 440 – 2017
Swan Lake North Pumped
– 400 EDF Renewable Energy, Inc. 2023
Storage
Lake Powell Pipeline Colorado 345.4 – 2020
Chakachamna Chakachamna 300 Alaska Energy Authority 2019
Mineville Pumped Storage – 240 Moriah Hydro Corporation 2021
Smithland Ohio 76 American Municipal Power, Inc. 2017
6.10 Hydropower Market, US, Investment Trends, 2016
6.10.1 Hydropower Market, US, Deal Volume vs. Deal Value, 2006–2016
Deals in hydropower sector were approximately 57, at a total value of $23.4 billion in 2016. The number
decreased from 100 in 2010 to 57 in 2016, and the total deal value decreased from $24.9 billion in 2010 to $23.4
billion in 2016.
74
Figure 26: Hydropower Market, US, Deal Volume vs. Deal Value ($bn), 2006–2016
60 450
400
50
350
40 300
Number of deals
Deal value ($bn)
250
30
200
20 150
100
10
50
0 0
2008
2011
2007
2006
2010
2009
2014
2016
2013
2015
2012
Deal value ($bn) Number of deals

Table 26:Hydropower Market, US, Deal Volume vs. Deal Value ($bn), 2006–2016
Year Deal value ($bn) Number of deals
2006 34.0 185
2007 26.2 157
2008 41.6 308
2009 52.2 395
2010 24.9 100
2011 30.4 147
2012 50.6 82
2013 30.7 66
2014 27.7 84
2015 35.5 164
2016 23.4 57
75
6.10.2 Hydropower Market, US, Split, by Deal Type, 2016
followed by asset transactions and equity offerings.
Figure 27: Hydropower Market, US, Split, by Deal Type (%), 2016
Private equity, Venture financing,
3 2
Acquisition,
9
Equity offerings,
9
Debt offerings,
57
Asset transactions,
20

Table 27:Hydropower Market, US, Deals by Type, 2016

Deal type Number
Debt offerings 32
Equity offerings 5
Acquisition 5
Private equity 2
Venture financing 1
6.11 Hydropower Market, US, Major Policies
6.11.1 Water Power Program
The DOE’s Water Power Program is designed to develop and deploy a portfolio of innovative technologies for
clean, domestic power generation from resources such as hydropower, waves, and tides. The Water Power
Program works with national laboratories, industry, universities, and other federal agencies to conduct research
and development activities through competitively selected, directly funded, and cost-shared projects.
76
The DOE allocated $70 million in fiscal year 2016 (FY16) funds for the Water Power Program to research and
develop marine and hydrokinetic and hydropower technologies.
6.11.2 Hydroelectric Production Incentives
The Energy Policy Act (EPAct) 2005 introduced an incentive payment scheme, adhering to congressional
appropriations, for the development of new hydropower systems at existing dams and conduits. In order to
qualify, new hydropower systems are required not to construct diversion structures during the installation of the
electricity generating equipment. The incentive is provided for facilities owned or solely operated by non-federal
entities.
6.11.3 Hydroelectric Efficiency Improvement
Under section 243 of EPAct 2005, incentive payments are offered to cover capital improvements at
hydroelectric facilities that are directly associated with the enhancement of efficiency. Incentive payments
cannot exceed 10% of the cost of the capital project
6.11.4 Loan Guarantee Program
Under former president Obama the DOE issued new supplemental guidance for Renewable Energy and Efficient
Energy (REEE) Projects that adds $500 million of loan guarantee authority, making the total available
approximately $4.5 billion. Loan guarantees are intended to encourage early commercial use of new or
significantly improved technologies in energy projects. The loan guarantee program generally does not support
research and development projects.
6.11.5 Production Tax Credits
The PTC provides per kilowatt hour (kWh) credit on tax paid by power producers for power produced from
renewable energy sources and sold to an unrelated person during a taxable year. The PTC was first introduced in
1992 and has since been revised a number of times. New legislation expanded the list of qualifying renewable
energy sources to include marine and hydrokinetic resources in 2005. The PTC provides a tax credit for
generation from qualified energy sources: wind, biomass, geothermal, solar, municipal solid waste, landfill gas,
tidal, wave, ocean thermal, wave, small hydropower, marine, and hydrokinetic energy from qualified facilities.
The PTC is applicable for a 10-year period from the time that a power production facility is put into service. The
American Recovery and Reinvestment Act (ARRA), which came into effect in February 2009, contains a number
of important measures related to the US renewable energy industry aimed at encouraging continued growth.
The PTC expired in December 2013. It was renewed in December 2014 but with a retrospective eligibility for
plants that started construction before the end of 2014. This led to a number of projects starting construction in
December 2014; drive the number of projects in 2015 and 2016.
77
Currently hydropower receives only half the credit available to other renewable energy sources. That disparity
skews investment and job creation away from these projects and leaves potential private sector dollars on the
table. Equalizing the tax credit for hydropower will create a burst of investment and unlock the huge job and
energy potential of this technology.
The following table provides details of the service deadline and credit amounts provided for qualifying facilities
under PTC.
Table 28: Renewable Energy Market, US, Production Tax Credit ($/kWh), 2016
Resource PTC
Wind 0.023
Closed-loop biomass 0.023
Open-loop biomass 0.012
Geothermal energy 0.023
Landfill gas 0.012
Municipal solid waste 0.012
Qualified hydropower 0.012
Marine and hydrokinetic (≥ 150 kW) 0.012
Source: GlobalData; DSIRE, 2016
Note: All technologies had a deadline for start of construction of the end of 2016, except wind, for which it is the end of 2019
6.11.6 Investment Tax Credits
The entities eligible for the federal renewable power PTC are permitted to opt for the federal business energy ITC
or receive a grant from the US Department of the Treasury in lieu of a PTC for new renewable energy
installations. The qualifying facilities include PTC-eligible technologies such as solar energy, fuel cells, small wind
energy, geothermal, microturbine, wave power, ocean power, and landfill gas. The EIEA 2008 extended the
period of credit availability for solar energy, fuel cells, and small wind energy systems, and has enabled power
producers to utilize the credit against the alternative minimum tax.
ITC policy played an important role for the growth of America’s renewable hydropower resources, which the
National Hydropower Agency (NHA) is working to extend through 2018. The ITC allows America’s hydropower
developers to receive a 30% tax credit for new development and is an important tool in spurring the sometimes
capital intensive addition of new hydropower generation. NHA also supports allowing energy storage projects to
qualify for the ITC.
78
Table 29: Renewable Energy Market, US, Production Tax Credit, 2016
End of End of End of End of End of End of 2023 and
Technology
2017 2018 2019 2020 2021 2022 beyond
Solar PV 30% 30% 30% 26% 22% 10% 10%
Solar water heating 30% 30% 30% 26% 22% 10% 10%
Solar space
30% 30% 30% 26% 22% 10% 10%
heating/cooling
Solar process heat 30% 30% 30% 26% 22% 10% 10%
Hybrid solar lighting NA NA NA NA NA NA NA
Fuel cells NA NA NA NA NA NA NA
Small wind NA NA NA NA NA NA NA
Geothermal electricity 10% 10% 10% 10% 10% 10% 10%
Geothermal heat NA NA NA NA NA NA NA
Microturbines NA NA NA NA NA NA NA
CHP systems NA NA NA NA NA NA NA
Large wind 24% 18% 12% NA NA NA NA
Source: GlobalData; DSIRE, 2016
Note: All technologies had a deadline for start of construction of the end of 2016, except wind, for which it is the end of 2019
6.11.7 Clean Renewable Energy Bonds
CREBs are primarily designed to enable public sector entities to finance renewable energy projects, by allowing
them to issue low-cost debt. Eligible entities include power co-operatives, state governments, municipalities,
tribal governments, and certain other lenders, and the qualifying technologies are the same as those that qualify
for PTC. The bonds are issued at a theoretical 0% interest, meaning the borrower pays back the principal, and the
interest component is paid by federal tax credits. CREBs are distinguished from traditional tax-exempt bonds in
the way that tax credits issued through CREBs are taken into account as taxable income for the bondholder.
Under the Environmental Protection Act 2005, $800m was allocated to CREBs tax credit bonds. Later, the
Internal Revenue Service (IRS) provided an additional $400m in old CREBs and $800m for new CREBs, available
under the EIEA of 2008. In addition, the ARRA provided $1.6 billion for new CREBs, raising the total cap to $2.4
billion.
IRS Notice 2015-12 announced the availability of close to $1.4 billion in remaining volume cap for new CREBs. On
March 5, 2015, the IRS opened the rolling volume-cap application window for governmental bodies and co-
operative utilities, as well as a closed-end application period for public power providers.
6.11.8 Qualified Energy Conservation Bonds
Qualified Energy Conservation Bonds (QECBs) are financial options similar to CREBs, applicable to public sector
entities for certain energy projects. The issuing of QECBs is authorized under the EIEA of 2008, and eligible
energy conservation projects include those relating to renewable energy generation, energy-efficiency capital
79
expenditure in public companies, R&D applications for renewable energy and energy efficiency, energy efficient
mass communication, and public energy-efficiency education campaigns. Renewable energy projects that are
eligible for CREBs also qualify for QECBs.
Unlike CREBs, QECBs are not subject to approval from the Department of the Treasury. The issuer of the bond
pays the principal component only, while the interest portion is received by the bondholder in the form of federal
tax credits. The rate of the tax credit is set on a daily basis by the Department of the Treasury. The bondholder
receives 70% of the full rate, and that is taxable.
Initially, QECBs were structured as tax credit bonds. However, from 2010, QECBs changed to direct subsidy
bonds similar to Build America Bonds. The QECB issuer pays the investor a taxable coupon and receives a rebate
from the US treasury. There is no expiration date for QECBs, and they can be issued for as long as there is an
allocation available.
6.11.9 Tax Exempt Financing for Municipalities
State and local governments and governmental entities, including public power utilities, have utilized municipal
bonds as a financing tool for new infrastructure projects, including hydroelectric and other renewable energy
projects. Previously, interest paid on municipal bonds is exempted from federal tax, which allows these entities
to issue bonds at reasonable rates and assists in meeting their capital needs. The NHA, on behalf of the public
power utilities, believes the interest exclusion should be preserved. To do otherwise would impose higher
borrowing costs that will limit investment in critical infrastructure, including energy infrastructure like hydro
projects.
6.11.10 State Level Incentives
6.11.10.1 Financial Incentives and Policy Support for Renewable Energy Sources, Nevada
6.11.10.1.1 NV Energy: Renewable Generations Rebate Program
Nevada’s Renewable Generations Rebate Program is administered by NV Energy on behalf of the Nevada Task
Force on Energy Conservation and Renewable Energy. The program provides incentives for photovoltaic (PV),
small wind, and hydropower systems. The rebates are available for grid-connected PV installations on residential
and public buildings, business organizations, non-profit organizations, small wind systems on public and
residential sites (currently closed), small businesses, agricultural sites, and small hydropower systems installed
at grid-connected agricultural sites.
Rebates under the program are limited to specific system sizes corresponding to different customer categories,
as follows:
• Residential: 10 kW
80
• Small business: 50 kW
• Public governmental: 50 kW
• Public non-governmental: 100 kW
• Schools: 50 kW
For 2013, the budget for the solar generation program supported 5.64 MW of projects in southern Nevada, and
8.78 MW of projects in northern Nevada.
The solar generation incentive for residential and small business under this program is $0.50 per W. In southern
Nevada, incentives for schools and public category consumers are closed. In Northern Nevada, the incentive for
schools is $1 per W, while the public incentive category is closed.
6.11.10.1.2 Portfolio Energy Credits
Nevada’s RPS requires Nevada Energy to gain or keep a minimum percentage of the power it sells from
renewable or energy-efficiency measures. From 2003 onwards, Nevada’s renewable energy producers can earn
Portfolio Energy Credits (PECs), which can then be sold to utilities in order to meet the RPS. In order to
participate in the program, owners of renewable systems are required to contact PUCN to register their system.
Owners of PV, wind, or hydropower systems installed through NV Energy’s Renewable Generations Rebate
Program do not retain the PECs associated with their power generation, and are therefore not eligible to trade
certificates through the program.
6.11.10.1.3 Renewable Energy Systems Property Tax Exemption
In Nevada, any value added by a renewable energy system shall be deducted from the determined value of any
commercial or industrial building when determining property tax. The equipment used for heating or cooling a
building or for producing power from solar, wind, hydropower, and geothermal systems is 100% tax exempt.
This tax exemption is not applicable if another state tax abatement or exemption is claimed by the same
building.
6.11.10.2 Financial Incentives and Policy Support for Renewable Energy Sources, California
Hydroelectricity is a major source of electricity in California and two types of hydro are currently available in the
state. Power plants with a capacity of more than 30 MW are called large hydro, and those with a capacity smaller
than 30 MW are called small hydro. The large hydro plants on dams in California are operated by the US Bureau
of Reclamation and the state’s Department of Water Resources, while the smaller hydro plants are primarily
operated by public utilities.
81
7 Hydropower Market, Canada
7.1 Hydropower Market, Canada, Overview
Canada has the fourth largest hydropower cumulative installed capacity in the world after China, the US, and
Brazil; the total installed capacity was 79.4 GW as of 2016. The country has substantial potential of nearly more
than double the current existing capacity. All regions of Canada have hydropower resources available for
development, making it a favorable national resource. Hydropower is the largest source of electricity generation
in Canada, accounting for approximately 58% of the country’s total electricity production.
The huge growth in Canada’s renewable market can be attributed to the provision of strong government policy
support in the form of incentives and FiTs. EcoEnergy is the umbrella program, under which various federal
incentives were provided to promote RE production. Canada encourages the use of hydroelectricity generation
and supported by federal and provincial incentives. The policies like Program of Energy Research and
Development (PERD) support research and development of hydropower and, second, FiT program in Ontario
province includes the 40-year contracts for the hydropower plants. Furthermore the INDC commitment intends
to reduce GHG emissions by 30% below 2005 levels by 2030, although Canada has one of the cleanest
electricity systems with nearly 75–80% of electricity supply emitting no GHGs.
The provinces, Manitoba and Quebec, lead in terms of hydroelectricity, and have the lowest per capita GHG
emissions. The country also has the most stringent environment regulation for the hydropower projects. Each
stage of a project is assessed to avoid, minimize, mitigate, or compensate any impacts and to encourage positive
outcomes for the environment.
The federal and provincial policies support the clean power development, and hydropower capacity is expected
to increase at a high rate comparing to coal and nuclear for the future electricity generation mix. Canada is also
the net exporter of electricity to the US; thus renewable hydropower is a progressively attractive option for
Border States. In fact, Canada’s plans for increasing its exports south of the border are underway. The country
has a viable potential to increase the export of the hydropower into the US; however, this would vary with the
cross-border transmission interconnections.
The demand for clean electricity in the US is an important factor driving the deployment of new hydropower
projects in Canada. Notable milestones in 2015 included the completion of the 270 MW Romaine-1 and the
Romaine-2 was commissioned by the end of 2014. The other new stations of Romaine-3 and Romaine-4 are
likely to be completed in 2017 and 2020, respectively.
As of 2016, the country had 79.4 GW of cumulative installed capacity; this includes 75.3 GW of large hydro
capacity, 0.2 GW of pumped storage capacity, and 4.0 GW of small hydropower capacity. By 2025, the
cumulative hydropower capacity is expected to reach 89.5 GW; this would include 84.1 GW from large hydro, 0.6
82
GW will come from pumped storage, while small hydro is expected to have a share of 4.8 GW. The country’s
hydropower market size is expected to increase considerably from $1.5 billion in 2017 to $5.8 billion by 2025.
7.2 Hydropower Market, Canada, Installed Capacity, 2006–2025
2017–2025, the cumulative capacity installations are expected to increase from 80.0 GW to 89.5 GW at a CAGR of
1.4%.
During 2017–2025, the net capacity additions are expected to increase from 0.6 GW to 2.3 GW. It is expected that
an average of 1.1 GW of annual additions are to take place during the same period.
Figure 28: Hydropower Market, Canada, Installed Capacity (GW), 2006–2025

100 3.5
90
3.0
80
2.5
70
Growth (%)
60 2.0
50
1.5
40
30 1.0
20
0.5
10
0.0
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
-10 -0.5
83
Table 30: Hydropower Market, Canada, Installed Capacity (GW), 2006–2025

2006 -0.2 72.7 –
2007 0.8 73.5 1.1
2008 1.0 74.4 1.3
2009 0.7 75.1 0.9
2010 -0.02 75.1 0.0
2011 0.3 75.4 0.4
2012 0.3 75.7 0.4
2013 0.3 76.0 0.4
2014 1.4 77.4 1.8
2015 1.8 79.2 2.4
2016 0.1 79.4 0.2
2017 0.6 80.0 0.8
2018 1.3 81.3 1.6
2019 0.9 82.1 1.1
2020 1.0 83.1 1.2
2021 0.8 83.9 0.9
2022 0.2 84.1 0.3
2023 0.5 84.7 0.6
2024 2.5 87.2 3.0
2025 2.3 89.5 2.7
84
7.3 Hydropower Market, Canada, Installed Capacity, By Type, 2006–2025
7.3.1 Hydropower Market, Canada, Cumulative Installed Capacity, By Type, 2006–2025
Large hydro installed capacity increased from 69.3 GW in 2006 to 75.3 GW in 2016 at a CAGR of 0.8%. During
2017–2025 the installed capacity is expected to increase from 75.7 GW to 84.1 GW at a CAGR of 1.3%.
The pumped storage installed capacity remained consistent as 0.2 GW during 2006–2016 period. It is expected
to increase from 0.2 GW in 2017 to 0.6 GW in 2025 at a CAGR of 16.1%.
The small hydro installed capacity increased from 3.2 GW in 2006 to 4.0 GW in 2016. The small hydropower
cumulative capacity is expected to increase from 4.1 GW in 2017 to 4.8 GW in 2025 at a CAGR of 2.1%.
period 2006–2025.
Figure 29: Hydropower Market, Canada, Cumulative Installed Capacity (GW), By Type, 2006–2025
100
90
80
70
60
50
40
30
20
10
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024

85
Table 31: Hydropower Market, Canada, Cumulative Installed Capacity (GW), By Type, 2006–2025
2006 69.3 3.2 0.2
2007 70.1 3.2 0.2
2008 71.1 3.2 0.2
2009 71.5 3.4 0.2
2010 71.4 3.5 0.2
2011 71.7 3.5 0.2
2012 72.0 3.5 0.2
2013 72.2 3.7 0.2
2014 73.4 3.8 0.2
2015 75.2 3.9 0.2
2016 75.3 4.0 0.2
2017 75.7 4.1 0.2
2018 76.8 4.3 0.2
2019 77.2 4.4 0.6
2020 78.1 4.5 0.6
2021 78.9 4.5 0.6
2022 79.0 4.6 0.6
2023 79.5 4.6 0.6
2024 81.9 4.7 0.6
2025 84.1 4.8 0.6
86
7.3.2 Hydropower Market, Canada, Annual Installed Capacity, By Type, 2006–2025
No annual capacity additions were witnessed in large hydropower segment in 2006 and in 2016 around 0.06 GW
capacity additions was recorded. The large hydro installed capacity is expected to increase from 0.48 GW in 2017
to 2.25 GW in 2025.
In pumped storage segment, no annual capacity additions were witnessed during 2006–2016. New capacity
additions in the segment are expected in 2019; however it is expected that no further capacity additions will
happen until 2025.
2006–2025.
Figure 30: Hydropower Market, Canada, Annual Installed Capacity (GW), By Type, 2006–2025
3.0
2.5
2.0
1.5
1.0
0.5
0.0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
-0.5
87
Table 32: Hydropower Market, Canada, Annual Installed Capacity (GW), By Type, 2006–2025
2006 -0.26 0.05 -
2007 0.80 - -
2008 0.94 0.01 -
2009 0.46 0.23 -
2010 -0.09 0.07 -
2011 0.27 0.05 -
2012 0.31 - -
2013 0.15 0.13 -
2014 1.25 0.16 -
2015 1.77 0.06 -
2016 0.06 0.08 -
2017 0.48 0.14 -
2018 1.02 0.24 -
2019 0.43 0.06 0.40
2020 0.93 0.06 -
2021 0.75 0.02 -
2022 0.16 0.08 -
2023 0.44 0.09 -
2024 2.43 0.09 -
2025 2.25 0.10 -
88
7.4 Hydropower Market, Canada, Hydropower Generation, 2006–2025
Net generation for hydropower in Canada increased from 351.4 TWh in 2006 to 365.1 TWh by 2016. It is expected
that generation from hydro will increase from 369.2 TWh in 2017 to 408.6 TWh in 2025 at a CAGR of 1.3%.
Figure 31: Hydropower Market, Canada, Hydropower Generation (TWh), 2006–2025

420
410
400
390
Generation (TWh)
380
370
360
350
340
330
320
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
89
Table 33: Hydropower Market, Canada, Hydropower Generation (TWh), 2006–2025

Year Generation (TWh)
2006 351.4
2007 366.0
2008 375.7
2009 367.4
2010 350.6
2011 374.7
2012 379.2
2013 392.1
2014 397.5
2015 362.5
2016 365.1
2017 369.2
2018 371.6
2019 374.4
2020 377.5
2021 385.0
2022 385.5
2023 387.4
2024 398.4
2025 408.6
90
7.4.1 Hydropower Market, Canada, Hydropower Generation, By Type, 2006–2025
Generation from large hydropower and pumped storage increased from 334.6 TWh in 2006 to 344.5 TWh in 2016.
The generation through small hydro increased from 16.8 TWh in 2006 to 20.6 TWh in 2016 at a CAGR of 2.1%.
Figure 32: Hydropower Market, Canada, Hydropower Generation (TWh), By Type, 2006–2025
450
400
350
Generation by type (Twh)
300
250
200
150
100
50
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
91
Table 34: Hydropower Market, Canada, Hydropower Generation (TWh), By Type, 2006–2025
Year Large Hydro and pumped storage Small hydro
2006 334.6 16.8
2007 349.2 16.8
2008 358.9 16.8
2009 348.7 18.8
2010 332.1 18.5
2011 355.9 18.8
2012 360.3 18.8
2013 372.8 19.3
2014 377.5 20.1
2015 342.2 20.3
2016 344.5 20.6
2017 348.0 21.2
2018 349.3 22.3
2019 351.9 22.5
2020 354.8 22.7
2021 362.3 22.6
2022 362.6 22.9
2023 364.1 23.2
2024 374.8 23.6
2025 384.7 23.9
92
7.5 Hydropower Market, Canada, Market Size ($bn), 2006–2025
The following figure and table illustrate hydropower market in terms of value during 2006–2025 period.
Figure 33: Hydropower Market, Canada, Market Size ($bn), 2006–2025

7.0
6.0
5.0
Market size ($bn)
4.0
3.0
2.0
1.0
-
2019
2012
2007
2008
2011
2022
2006
2021
2009
2010
2017
2018
2014
2013
2016
2020
2015
2024
2023
2025
93
Table 35: Hydropower Market, Canada, Market Size ($bn), 2006–2025

Year Market Size
2006 0.1
2007 2.0
2008 2.4
2009 1.7
2010 0.2
2011 0.8
2012 0.8
2013 0.7
2014 3.5
2015 4.6
2016 0.4
2017 1.5
2018 3.1
2019 2.2
2020 2.4
2021 1.9
2022 0.6
2023 1.3
2024 6.2
2025 5.8
94
7.6 Hydropower Market, Canada, Major Tenders, 2015–2016
The following table illustrates the major tenders in Canada in 2015–2016.
Table 36: Hydropower Market, Canada, Major Tenders, 2015–2016

Response
Announce-
ment Date
Award Date
BC Hydro And Power Authority
Invites RFP For Supply Of Diesel Generation
Dec 16, 2016 Supply & Erection Closed BC Hydro Jan 20, 2017
Generator At Stave Falls Hydro Equipment
Power Plant
Saskatchewan Power Corporation
Invites Tenders For Supply Of Saskatchewan
Generation
Sep 28, 2015 800kW Power Generator And Other Supply & Erection Closed Power Oct 19, 2015
Equipment
Related Works At Wellington Corporation
Hydroelectric Station
BC Hydro Invites Tenders For
Replacement Of Turbine Inlet Valves Generation
Aug 20, 2015 Supply & Erection Closed BC Hydro Oct 15, 2015
And Related Equipment At Equipment
Cheakamus Hydro Project
Saskatchewan Power Corporation Repair,
Saskatchewan
July 02, Invites RFP For Life Extension Of Generation Maintenance,
Closed Power Oct 16, 2015
2015 Turbine And Generator Units 1-6 At Equipment Upgrade and
Corporation
E B Campbell Hydro Power Plant Others
Sunshine Coast Regional District
Invites Tenders For Engineering,
Consulting and Sunshine Coast
Jun 30, 2015 Consulting And Professional Power Plant Closed July 14, 2015
Similae Services Regional District
Services For Micro-Hydro
Generating Station
95
7.7 Hydropower Market, Canada, Major Contracts, 2016
The following table illustrates the major contracts in Canada in 2016.
Table 37: Hydropower Market, Canada, Major Contracts,2016

Response End/
Announcement
Description Segment Category Status Client Company Contract Award
Date
Date
Quebec Signs $1 Billion
Hydroelectricity Supply Electricity Electricity
Dec 15, 2016 Signed Ontario Dec 15, 2016
Agreement With Ontario, Procurement Supply
Canada
Mavel To Supply A Vertical
Pelton Turbine And
Related Equipment For Generation Supply & Tla-o-qui-aht First
June 01, 2016 Signed 2016
4.132 MW Winchie Creek Equipment Erection Nations
Hydro Plant In British
Columbia, Canada
Sorgent.e Hydro Signs 40-
Year Standing Offer
Program Electricity
Electricity Electricity
Apr 22, 2016 Purchase Agreement With Signed BC Hydro 2016
Procurement Supply
BC Hydro For 10.5 MW
Clemina Creek hydro
Project In Canada
Voith Hydro To Supply Six
Vertical Axis, Francis-Style
Turbines, Six Generators Generation Supply &
Apr 06, 2016 Signed BC Hydro 2016
And Associated Equipment Equipment Erection
For Site C Hydro Power
Plant In Canada
Bawitik Power To Develop
Independent
3 MW Lock 25 Generating
Mar 10, 2016 Power Plant Construction Signed Electricity System Mar 10, 2016
Station In The Township Of
Operator
Selwyn In Ontario, Canada
Hydromega Services To
Develop 7 MW Trenton Independent
Mar 10, 2016 Lock 1 Hydro Project In The Power Plant Construction Signed Electricity System Mar 10, 2016
City Of Quinte West, Operator
Ontario, Canada
Peterborough Utilities To
Independent
Develop 2.5 MW Buckhorn
Hydro Power Plant In
Operator
Ontario, Canada
Peterborough Utilities To
Develop 3 MW
Independent
Peterborough Utilities Dam
24 Hydro Power Plant In
Operator
The Township of Selwyn,
Ontario, Canada
96
7.8 Hydropower Market, Canada, Major Active Plants, 2016
The following table illustrates the major active plants in Canada in 2016.
Table 38: Hydropower Market, Canada, Major Active Plants, 2016

Plant River/Basin Capacity (MW) Owner Year Online
Jimmie Creek Toba/ Powell 62 Alterra Power Corp.; Axium Infrastructure Inc. 2016
Big Silver Creek – 40.6 Innergex Renewable Energy Inc. 2016
Box Canyon hydropower plant – 16 Box Canyon Hydro Corp.; Sound Energy Inc. 2016
Culliton Creek Culliton Creek 15 BluEarth Renewables Inc. 2016
Gitchi Animki Niizh White river 10 Pic Mobert First Nation; Regional Power Inc. 2016
London Street Otonabee – – 2016
7.9 Hydropower Market, Canada, Major Upcoming Plants, 2017–2024
The following table illustrates the major upcoming plants in Canada during 2017–2024.
Table 39: Hydropower Market, Canada, Major Upcoming Plants, 2017–2024

Capacity Year
Plants River/Basin Owner Status
(MW) Online
Petit
Petit-Mecatina 1200 Hydro-Quebec Announced 2023
Mecatina
Under
Site C Peace 1100 BC Hydro 2024
Construction
Lower Churchill - Under
Churchill 824 Nalcor Energy, Ltd. 2017
Muskrat Falls Construction
Manitoba Hydro-Electric Board; The Under
Keeyask Nelson 695 2019
Keeyask Cree Nations Construction
Under
Romaine - 3 Romaine 395 Hydro-Quebec 2017
Construction
Amisk Hydroelectric
Peace 330 Announced 2023
Project
Under
Romaine - 4 Romaine 245 Hydro-Quebec 2020
Construction
Systeme de puissance
- 200 Hydro-Quebec Permitting 2018
HQP 2
Innergex Renewable Energy Inc.; Ledcor Under
Upper Lillooet Lillooet 81.4 2017
Power Group Ltd. Construction
Little
Little Jackfish 78 Ontario Power Generation Inc. Announced 2020
Jackfish
97
7.10 Hydropower Market, Canada, Investment Trends, 2016
7.10.1 Hydropower Market, Canada, Deal Volume vs. Deal Value, 2006–2016
Deals in hydropower sector were approximately 37, at a total value of $14,205.3m in 2016. The number
decreased from 58 in 2010 to 37 in 2016, and the total deal value decreased from $14,588.3m in 2010 to
$14,205.3m in 2016.
Figure 34: Hydropower Market, Canada, Deal Volume vs. Deal Value ($m), 2006–2016
25,000 80
70
20,000
60
50
Number of deals
Deal value ($m)
15,000
40
10,000
30
20
5,000
10
0 0
2006
2009
2016
2013
2015
2012
2008
2011
2007
2010
2014
Deal value ($m) Number of deals

98
Table 40:Hydropower Market, Canada, Deal Volume vs. Deal Value ($m), 2006–2016
Year Deal value ($m) Number of deals
2006 6,327.9 35
2007 7,785.8 46
2008 10,130.0 57
2009 22,907.1 76
2010 14,588.3 58
2011 10,773.2 50
2012 13,475.7 53
2013 5,669.4 35
2014 7,600.0 44
2015 6,230.7 32
2016 14,205.3 37
7.10.2 Hydropower Market, Canada, Split, by Deal Type, 2016
followed by equity offerings and asset transactions
Figure 35: Hydropower Market, Canada, Split, by Deal Type (%), 2016
Acquisition,
5
Asset transactions,
19
Debt offerings,
41
Equity offerings,
35
99
Table 41:Hydropower Market, Canada, Deals by Type, 2016

Deal type Number
Debt offerings 15
Equity offerings 13
Acquisition 2
7.11 Hydropower Market, Canada, Major Policies
7.11.1 Program of Energy Research and Development (PERD)
The Program of Energy Research and Development (PERD) is a federal, interdepartmental program operated by
Natural Resources Canada (NRCan). PERD funds research and development designed to ensure a sustainable
energy future in the best interests of both the economy and the environment. It provides funding to the federal
departments and agencies.
7.11.2 Clean Energy Fund
The Government of Canada announced the Clean Energy Fund (CEF) in January 2009 as part of its actions to
ensure a healthy environment, by supporting clean energy research, development, and demonstration (RD&D)
projects, including carbon capture and storage. The objective of CEF was to support the development of the
new, cutting-edge energy technologies that are essential for reducing GHG and other air emissions in energy
production, transmission, distribution, and use.
7.11.3 Financial Incentives and Policy Support for Hydropower
7.11.3.1 Feed-in Tariffs for Waterpower Projects
Ontario’s power system is distinguished by its diversity, as a variety of different RES help to fulfill the province’s
power demands. Hydropower accounts for around 25% of the province’s power requirements, through over 200
production facilities throughout the province.
Hydropower is one of the most economical sources of power. It supplies both baseload and peak-load
generation to the grid and is a proven critical resource in maintaining the power system. The FiT for hydropower
is outlined earlier in this report.
7.11.3.2 Hydroelectric Standard Offer Program
The Ontario Power Authority’s (OPA) Hydroelectric Standard Offer Program (HESOP) provides an incentive of
CAD0.42 ($0.28886) per kWh, for the continued development of hydroelectric capacity in Ontario.
100
7.11.4 Hydropower Policies, British Columbia
7.11.4.1 Net Metering
In order to facilitate the interconnection of small generating units with a capacity rating of up to 100 kW to BC
Hydro’s distribution system, the company introduced a net metering rule on May 31, 2004. The program was
introduced for residential and commercial customers wishing to link a small generating unit, utilizing a ‘‘BC
Clean’’ energy source, to the BC Hydro distribution system. The program provides credits for excess generation
from the customer. This is accumulated, and a one-time payment is made by BC Hydro at a rate of CAD9.99
($8.23) per kWh.
7.11.4.2 Energy Plan: A Vision for Clean Energy Leadership
British Columbia’s energy plan, which was announced in February 2007, outlines the province’s aim for clean
energy. This includes a goal for the achievement of zero net GHG emissions, new investments in innovation, and
an ambitious aim to achieve 50% of BC Hydro’s incremental resource needs through conservation by 2020.
The following major alternative energy policies are outlined under the plan:
• To increase small-clean or high-efficiency cogeneration, BC Hydro is introducing a standing offer

program with a set purchase price, for power projects with up to 10 MW of capacity
• Ensuring clean or renewable power generation continues to account for a minimum of 90% of total
generation, including large hydropower
• Applying cost-effective energy-efficiency standards for new buildings
• Increasing power self-sufficiency by 2016
• Offering the Innovative Clean Energy (ICE) Fund in order to support the development of clean power and
energy-efficiency technologies in the power, alternative energy, transportation, and oil and gas sectors
• Implementing a 5% average RFS for diesel in order to assist in reducing emissions and advance the
domestic renewable fuel industry
• Promoting a hydrogen economy in order to develop the hydrogen and fuel cell strategy for British
Columbia
• Formulating a new regulatory framework for hydrogen by working with governments, industry, and
hydrogen alliances
101
7.11.5 Standing Offer Program
BC Hydro launched its Standing Offer Program in 2009 to support the growth of small and RE projects
throughout the province. The program establishes a process for the purchase of energy from small projects with
a nameplate capacity of more than 0.1 MW but less than 15 MW.
BC Hydro will cover the following, for each Megawatt hour (MWh) of energy delivered:
• The base price, as calculated by the region of the point of interconnection
• Any Commodity Price Index escalation applicable to the base price
• The time-of-delivery adjustment factor
• The Environmental Attributes Price, if applicable, increased in accordance with the program rules and the
Power Purchase Agreement (PPA)
7.11.6 Hydropower Policies, Nova Scotia
7.11.6.1 Renewable Electricity Plan, 2010
Renewable Electricity Plan (REP) was released in April 2010 and, in 2011, was amended to give more importance
to biomass-based electricity. The recent amendments include the addition of the definition of co-firing, and a
requirement for Nova Scotia Power to operate the Port Hawkesbury biomass energy plant as a baseloaded unit
producing as close as practical to its rated output on a continuous basis.
The REP aims to make Nova Scotia a green and carbon-free province. The province achieved the 25% share by
2015 and plans for a 40% share of power from RES by 2020. In order to achieve this target, the REP aims to
procure RE from intermittent sources, such as tidal, explore biomass energy sources, and import clean power
from neighboring provinces. Nova Scotia plans to invest in tidal R&D, with the aim of enabling tidal power to
contribute to the 2020 renewable target.
Nova Scotia Power introduced a net metering program to facilitate the connection of residential and commercial
customers’ small renewable energy-producing units (≤100 kW capacity) to its electrical grid. This incentive has
been extended to customers with 101–1,000 kW of capacity, although with different terms. Producers with
capacity of less than 101 kW are referred to as Class 1 customers, and those with 101–1,000 kW of capacity are
referred to as Class 2 customers.
Generators that utilize RE such as wind, solar, small hydropower, or biomass can be used in household or
business locations. If the RE system generates more power than demand, it is then transmitted to the provincial
102
grid, and the consumer receives an energy credit that can be used against future usage for a period of 12
months.
7.11.7 Hydropower Policies, Quebec
7.11.7.1 Energy Policy 2030
The goals of Quebec’s energy policy for 2030 are:
• To enhance energy efficiency by 15%
• Petroleum products consumption to be reduced by 40%
• Coal usage to be phase out
• Renewable energy output to be increased by 25%, and
• Bioenergy production to be increased by 50%
7.11.7.2 Energy Strategy 2006–2015
Quebec’s energy strategy defined goals and actions for the province for the 2006–2015 period. The strategy
asserted a new approach to hydropower growth, on the basis of a portfolio of projects, in response to the rising
constraints affecting hydropower development. The strategy aimed to install 4.5 GW of new hydropower plants,
with investment amounting to around $25 billion. Under this program, the government also set a target for 4 GW
of wind power to be developed by 2015, which was supported by a new 200 MW wind farm project developed by
the government of Quebec, Hydro-Quebec, and the Innu Nation, in partnership. The strategy also focused on
new energy technologies, with the development of biofuels, geothermal and solar energy being prioritized.
The new 2016–2025 energy policy will enable Quebec to:
• Participate in a rapidly changing worldwide energy, economic, and environmental context
• Develop renewable energies, energy efficiency, and innovation
• Develop resources and its shared energy heritage
• Reduce its dependency on fossil energy
Hydro-Quebec offers net metering to assist and stimulate self-generators who generate power for their own
facilities from RES. The program enables eligible self-generators to feed their excess power into the Hydro-
Quebec grid in exchange for credits in kWh. However, if customers do not produce sufficient power to meet their
needs, they can still obtain power from the grid and benefit from the dependability of Hydro-Quebec’s power
supply.
103
Residential customers, farmers and small-power business customers are eligible under the program. The eligible
energy sources are wind, solar, hydropower, geothermal, and bioenergy (covering biogas and forest biomass).
The maximum capacity of the generating facilities for this program must not exceed the estimated capacity
required to fulfill all the energy needs of the customer or a maximum of 50kW.
7.11.7.4 Hydro Grants
Grants of up to $7,675 are available from Hydro-Quebec for homeowners planning to replace an existing electric
or bi-energy heating system with a geothermal heating and cooling system. The system must be certified by the
Canadian Geoexchange Coalition. This grant includes the financial assistance that is also available through the
Rénoclimat program at Quebec’s Agence de l’Efficacité Énergétique.
7.11.8 Hydropower Policies, Ontario
7.11.8.1 Green Energy Act, 2009
Ontario’s Green Energy Act (GEA) and the associated alterations to other legislation obtained royal assent on May
14, 2009. The new GEA has the following objectives:
• To increase the growth of clean and renewable sources of energy such as wind, solar, hydropower,
biomass, and biogas in Ontario
• To develop the potential for savings through a series of conservation measures
• To develop 50,000 jobs for Ontario residents in its first three years
The main aim of the GEA is to accelerate the growth of clean, renewable sources of energy, which it intends to
achieve through the following actions:
• Development of a FiT scheme, which will offer attractive rates to increase new investments in RE
generation, enhance investor confidence, and provide funds for RE projects
• Employment of a RE Facilitator to provide one-window support to project developers in order to expedite

project approvals
• Provision of support to enable local communities to construct and accomplish their own RE generating
facilities
• Provision of incentives for small-scale RE projects, such as zero or low-interest loans to support
homeowners in financing the capital cost of residential RE
• Introduction of a right for RE projects to connect to the power grid
104
Power customers that generate power primarily for their own use from renewable sources using technology with
a maximum cumulative output of 500 kW are eligible under Ontario’s net metering standards.
To take advantage of the net metering facility, customers are required to contact their local utility company,
which then provides details of the relevant technical requirements, the approval process, and the procedure in
place to obtain the net metering agreement.
The electricity bill of the eligible customer reflects the difference between the value of the energy exported to
the grid and the value of the energy taken from the grid. If the difference is zero or in credit then the bill consists
of fixed monthly charges only. If the credit provided is greater than what can be applied to one bill, the balance
can be carried forward to offset future costs, for up to 12 months.
105
8 Hydropower Market, South and Central America
8.1 Hydropower Market, South and Central America, Overview
Hydropower in South and Central America had 150.8 GW of the total hydropower capacity as of 2016. Most of the
countries in the region have hydro as main source of electricity generation in their energy mix. The region
witnessed 5.3 GW of annual additions in 2016 and in the following year capacity additions are expected to reach
6.8 GW. The untapped hydropower potential is huge and renewable energy continues to be one of the region's
most valuable assets.
The region’s hydropower potential growth varies from country to country. The major potential countries for the
hydropower development are Brazil, Chile, and Colombia as the potential for growth is widespread, while other
countries in the region like Paraguay, Venezuela, Peru, Bolivia, Ecuador, Panama, Haiti, Mexico, Costa Rica, and
Argentina are all looking to expand their use of hydropower. The hydropower development in the region is
supported by the individual capacity addition targets and policy support targets for the renewable energy
development.
Brazil is one of the leading countries in terms of the hydropower development both globally and in the region. In
2017, country’s estimated annual capacity additions are expected as 4.0 GW. The emerging countries in the
region such as Chile are also supporting the renewable energy development, creating a target that utilities with
more than 200 MW capacity are mandated to generate 20% of electricity from renewable by 2025.
In the 2017–2025 forecast period, the cumulative hydropower capacity of the region is expected to increase
from 157.6 GW to 195.9 GW, with a 2.8% CAGR. Market size increased from $8.4 billion in 2006 to $14.1 billion in
2016, respectively, and by 2025 it is expected to reach to $13.1 billion.
8.2 Hydropower Market, South and Central America, Installed Capacity, 2006–2025
The hydropower installed capacity in South and Central America region increased from 119.7 GW in 2006 to 150.8
GW in 2016. During 2017–2025, the cumulative capacity installations are expected to increase from 157.6 GW to
195.9 GW, respectively, at a CAGR of 2.8%.
During 2017–2025 the annual additions are expected to decline from 6.8 GW to 4.8 GW. It is expected that an
average of 5.0 GW of annual additions are to take place during the same period.
106
The figure and table below illustrate hydropower installed capacity in South and Central America during 2006–
2025 period.
Figure 36: Hydropower Market, South And Central America, Installed Capacity (GW), 2006–2025
250 5.0
4.5
200 4.0
3.5
Growth (%)
150 3.0
2.5
100 2.0
1.5
50 1.0
0.5
0 0.0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
107
Table 42: Hydropower Market, South And Central America, Installed Capacity (GW), 2006–2025
2006 3.0 119.7 –
2007 3.7 123.4 3.1
2008 0.8 124.3 0.7
2009 1.5 125.8 1.2
2010 2.5 128.3 2.0
2011 3.6 131.8 2.8
2012 2.2 134.0 1.6
2013 2.3 136.3 1.7
2014 5.2 141.5 3.8
2015 4.0 145.5 2.9
2016 5.3 150.8 3.6
2017 6.8 157.6 4.5
2018 4.8 162.4 3.1
2019 6.4 168.9 4.0
2020 5.5 174.3 3.2
2021 3.7 178.0 2.1
2022 3.3 181.4 1.9
2023 4.0 185.4 2.2
2024 5.7 191.1 3.1
2025 4.8 195.9 2.5
8.3 Hydropower Market, South and Central America, Installed Capacity, By Type, 2006–
2025
8.3.1 Hydropower Market, South and Central America, Cumulative Installed Capacity, By Type,
2006–2025
2017–2025, installed capacity is expected to increase from 148.3 GW to 183.6 GW at a CAGR of 2.7%.
The pumped storage installed capacity remained consistent during 2006–2016 period. During 2017–2025
installed capacity is expected to increase from 1.1 GW to 1.4 GW at a CAGR of 3.1%.
The small hydro installed capacity increased from 3.0 GW in 2006 to 7.8 GW in 2016, at a CAGR of 10.0%. During
2017–2025, it is expected to increase from 8.2 GW to 10.9 GW at a CAGR of 3.6%.
108
The following figure and table illustrate the cumulative hydropower installed capacity in South and Central
America during the period 2006–2025.
Figure 37: Hydropower Market, South and Central America, Cumulative Installed Capacity (GW), By Type,
2006–2025
250
200
150
100
50
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
109
Table 43: Hydropower Market, South and Central America, Cumulative Installed Capacity (GW), By Type,
2006–2025
2006 115.6 3.0 1.1
2007 119.0 3.3 1.1
2008 119.1 4.1 1.1
2009 120.0 4.7 1.1
2010 121.9 5.3 1.1
2011 124.9 5.9 1.1
2012 126.5 6.4 1.1
2013 128.2 6.9 1.1
2014 133.3 7.1 1.1
2015 136.9 7.5 1.1
2016 141.9 7.8 1.1
2017 148.3 8.2 1.1
2018 152.8 8.5 1.1
2019 158.9 8.8 1.1
2020 163.8 9.2 1.4
2021 167.2 9.5 1.4
2022 170.1 9.8 1.4
2023 173.8 10.2 1.4
2024 179.2 10.5 1.4
2025 183.6 10.9 1.4
110
8.3.2 Hydropower Market, South and Central America, Annual Installed Capacity, By Type, 2006–
2025
Large hydro annual installed capacity increased from 2.7 GW in 2006 to 5.0 GW in 2016. During 2017–2025,
installed capacity is expected to decrease from 6.4 GW to 4.4 GW.
The pumped storage annual installed capacity witnessed zero additions during 2006–2016 and no capacity is
expected to be installed during 2016–2019. New capacity addition of 0.3 GW is expected to come in 2020 and
during 2021–2025 no further capacity installations are expected to take place.The following figure and table
illustrate annual installed capacity for hydropower in South and Central America during the period 2006–2025.
Figure 38: Hydropower Market, South And Central America, Annual Installed Capacity By Type (GW), 2006–
2025
8.0
7.0
6.0
5.0
4.0
3.0
2.0
1.0
0.0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024

111
Table 44: Hydropower Market, South And Central America, Annual Installed Capacity By Type (GW), 2006–
2025
2006 2.7 0.3 –
2007 3.4 0.3 –
2008 0.1 0.8 –
2009 0.9 0.6 –
2010 1.9 0.6 –
2011 2.9 0.6 –
2012 1.7 0.5 –
2013 1.7 0.6 –
2014 5.0 0.2 –
2015 3.6 0.4 –
2016 5.0 0.3 –
2017 6.4 0.3 –
2018 4.5 0.3 –
2019 6.1 0.3 –
2020 4.8 0.3 0.3
2021 3.4 0.3 –
2022 3.0 0.3 –
2023 3.6 0.3 –
2024 5.4 0.3 –
2025 4.4 0.3 –
112
8.4 Hydropower Market, South and Central America, Hydropower Generation, 2006–2025
Net generation for hydropower in South and Central America increased from 578.4 TWh in 2006 to 605.1 TWh in
2016. During 2017–2025, it is expected to increase from 617.9 TWh to 705.0 TWh.
The following figure and table illustrate hydropower generation in South and Central America during 2006–2025
period.
Figure 39: Hydropower Market, South And Central America, Hydropower Generation (TWh), 2006–2025
800
700
600
Generation (TWh)
500
400
300
200
100
0
2023
2025
2008
2011
2007
2022
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
113
Table 45: Hydropower Market, South And Central America, Hydropower Generation (TWh), 2006–2025
2006 578.4
2007 599.3
2008 599.2
2009 618.6
2010 623.5
2011 660.6
2012 641.7
2013 619.9
2014 607.9
2015 596.4
2016 605.1
2017 617.9
2018 626.5
2019 639.5
2020 652.4
2021 662.1
2022 670.7
2023 682.1
2024 693.4
2025 705.0
114
8.4.1 Hydropower Market, South and Central America, Hydropower Generation, By Type, 2006–
2025
Small hydro generation increased from 11.6 TWh in 2006 to 30.4 TWh in 2016, at a CAGR of 10.1%. During 2017–
2025, it is expected to increase from 31.7 TWh to 42.1 TWh.
The following figure and table illustrate the hydropower generation in South and Central America during 2006–
2025 period.
Figure 40: Hydropower Market, South And Central America, Hydropower Generation, By Type (TWh), 2006–
2025
800
700
600
500
400
300
200
100
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
115
Table 46: Hydropower Market, South And Central America, Hydropower Generation (TWh), By Type, 2006–
2025
2006 566.8 11.6
2007 586.4 12.9
2008 583.4 15.8
2009 600.6 18.0
2010 603.3 20.2
2011 637.9 22.7
2012 617.5 24.2
2013 593.7 26.3
2014 580.7 27.2
2015 567.3 29.0
2016 574.8 30.4
2017 586.3 31.7
2018 593.6 32.9
2019 605.3 34.2
2020 617.0 35.5
2021 625.3 36.8
2022 632.6 38.1
2023 642.7 39.4
2024 652.6 40.8
2025 662.9 42.1
116
8.5 Hydropower Market, South and Central America, Market Size ($bn), 2006–2025
2017–2025, it is expected to decline from $18.1 billion to $13.1 billion.
The following figure and table illustrate the hydropower market size in South & Central America during the period
2006–2025.
Figure 41: Hydropower Market, South and Central America, Market Size ($bn), 2006–2025
20
18
16
14
Market size ($bn)
12
10
0
2023
2025
2008
2011
2007
2022
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
117
Table 47: Hydropower Market, South and Central America, Market Size ($bn), 2006–2025
Year Market Size
2006 8.4
2007 10.5
2008 2.3
2009 4.3
2010 6.9
2011 9.7
2012 6.1
2013 6.2
2014 14.2
2015 10.9
2016 14.1
2017 18.1
2018 13.1
2019 16.8
2020 14.5
2021 9.8
2022 8.8
2023 10.6
2024 15.6
2025 13.1
118
9 Hydropower Market, Brazil
9.1 Hydropower Market, Brazil, Overview
Brazil is the largest and fastest growing economy in South America and the seventh-largest economy in the
world. The economy is expected to grow at an average of 4.5–5% annually between 2014 and 2020. Strong
economic growth has led to increased demand for power, and the government has adopted a hybrid approach
to meet some of its future demand by allowing both public and private investment in new power generation and
distribution projects.
In 2016, Brazil annual hydropower installed capacity was second largest after China, at 3.7 GW, while in terms of
the cumulative installed capacity Brazil was third after China and the US with 95.4 GW. Brazil derives the majority
of its power requirements from hydropower, making use of its most abundant natural resource. However,
drought conditions have impacted hydropower generation in the recent past and forced electricity generating
companies to compensate the demand with costlier thermal power sources. These conditions caused strain on
electricity generating price. The Ministerio de Minas e Energia (Ministry of Mines and Energy, MME) plans to
diversify the power mix in order to reduce the risk of electricity shortages.
The geopolitical development and frontier expansion plans of Brazil’s Ministry of Mines and Energy favor
hydropower, although these additions also include wind power, biomass, and natural gas. The country’s biggest
hydropower potential lies in the Amazon River basin in the north while Brazil’s population centers and demand
for electricity are largely along the southern coast. Most of the planned hydroelectric expansion will come from
new dams in Amazonia, as its rivers are less saturated by hydroelectric plants than others.
In spite of this, it is expected that hydropower development will be restricted and not reach its full potential, due
to concerns about the adverse environmental impact of hydropower development on the biodiversity of plant
sites, the flooding of huge tracts of land, and the displacement of indigenous people. The second concern is for
the transmission line development which continues to be one of the main bottlenecks for development of
renewable energy projects in Brazil, with the majority of the country’s transmission projects being behind
schedule.
As of 2016, the country has 89.8 GW of large hydro capacity, 0.1 GW of pumped storage capacity, and 5.5 GW of
small hydropower capacity. By 2025, the cumulative hydropower capacity is expected to reach at 121.2 GW. Of
this total installed capacity, 113.5 GW is expected to come from large hydro, 0.1 GW will be from pumped storage,
and small hydro will have 7.5 GW. In terms of the market size, Brazil’s hydropower market is expected to decline
from $10.9 billion in 2017 to $9.5 billion in 2025.
119
9.2 Hydropower Market, Brazil, Installed Capacity, 2006–2025
2.5%.
During 2017–2025, the net capacity additions are expected to decline from 4.0 GW to 3.5 GW. It is expected that
Figure 42: Hydropower Market, Brazil, Installed Capacity (GW), 2006–2025

140 5.0
4.5
120
4.0
100
3.5
Growth (%)
3.0
80
2.5
60
2.0
40 1.5
1.0
20
0.5
0 0.0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
120
Table 48: Hydropower Market, Brazil, Installed Capacity (GW), 2006–2025

2006 2.6 73.7 –
2007 3.2 76.9 4.3
2008 0.7 77.5 0.9
2009 1.1 78.6 1.4
2010 2.1 80.7 2.7
2011 1.8 82.5 2.2
2012 1.8 84.3 2.2
2013 1.7 86.0 2.0
2014 3.2 89.2 3.7
2015 2.5 91.7 2.8
2016 3.7 95.4 4.0
2017 4.0 99.3 4.1
2018 3.8 103.1 3.9
2019 3.5 106.7 3.4
2020 3.1 109.8 2.9
2021 1.3 111.0 1.2
2022 1.4 112.4 1.3
2023 1.8 114.3 1.6
2024 3.5 117.7 3.0
2025 3.5 121.2 2.9
9.3 Hydropower Market, Brazil, Installed Capacity, By Type, 2006–2025
9.3.1 Hydropower Market, Brazil, Cumulative Installed Capacity, By Type, 2006–2025
2017–2025 the installed capacity is expected to increase from 93.5 GW to 113.5 GW at a CAGR of 2.5%.
The pumped storage installed capacity is expected to remain constant at 0.1 GW during the forecast period as
well.
The small hydro installed capacity increased from 1.7 GW in 2006 to 5.5 GW in 2016, at a CAGR of 12.6%. During
2017–2025, the hydropower cumulative capacity is expected to increase from 5.7 GW to 7.5 GW at a CAGR of 3.5
%.
121
period 2006–2025.
Figure 43: Hydropower Market, Brazil, Cumulative Installed Capacity (GW), By Type 2006–2025
140
120
100
80
60
40
20
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2007
2022
2010
2018
2017
2014
122
Table 49: Hydropower Market, Brazil, Cumulative Installed Capacity (GW), By Type 2006–2025
2006 71.9 1.7 0.1
2007 74.8 1.9 0.1
2008 74.8 2.6 0.1
2009 75.4 3.1 0.1
2010 77.0 3.6 0.1
2011 78.2 4.1 0.1
2012 79.7 4.5 0.1
2013 81.0 4.9 0.1
2014 84.1 5.0 0.1
2015 86.3 5.2 0.1
2016 89.8 5.5 0.1
2017 93.5 5.7 0.1
2018 97.1 5.9 0.1
2019 100.4 6.1 0.1
2020 103.3 6.4 0.1
2021 104.3 6.6 0.1
2022 105.5 6.8 0.1
2023 107.1 7.0 0.1
2024 110.3 7.3 0.1
2025 113.5 7.5 0.1
123
9.3.2 Hydropower Market, Brazil, Annual Installed Capacity, By Type, 2006–2025
Large hydro annual installed capacity increased from 2.4 GW in 2006 to 3.5 GW in 2016. During 2017–2025, the
capacity is expected to decline from 3.7 GW to 3.2 GW.
No annual capacity additions were witnessed in pumped storage segment during 2006–2016 period and the
same is expected to continue until 2025.
Small hydro annual installed capacity was 0.2 GW in 2006 and 2016. During 2017–2025, 0.2 GW of small hydro
capacity additions are expected to continue throughout the period.
2006–2025.
Figure 44: Hydropower Market, Brazil, Annual Installed Capacity (GW), By Type 2006–2025
4.5
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
-0.5
124
Table 50: Hydropower Market, Brazil, Annual Installed Capacity (GW), By Type 2006–2025
2006 2.4 0.2 –
2007 2.9 0.3 –
2008 -0.04 0.7 –
2009 0.6 0.5 –
2010 1.6 0.5 –
2011 1.3 0.5 –
2012 1.4 0.4 –
2013 1.3 0.4 –
2014 3.1 0.1 –
2015 2.2 0.2 –
2016 3.5 0.2 –
2017 3.7 0.2 –
2018 3.6 0.2 –
2019 3.3 0.2 –
2020 2.9 0.2 –
2021 1.0 0.2 –
2022 1.2 0.2 –
2023 1.6 0.2 –
2024 3.2 0.2 –
2025 3.2 0.2 –
125
9.4 Hydropower Market, Brazil, Hydropower Generation, 2006–2025
Net generation for hydropower in Brazil increased from 348.8 TWh in 2006 to 365.8 TWh in 2016. During 2017–
2025 generation from hydro is expected to increase from 370.3 TWh to 415.0 TWh.
The following figure and table illustrate the hydro generation in Brazil during 2006–2025 period.
Figure 45: Hydropower Market, Brazil, Hydropower Generation (TWh), 2006–2025

450
400
350
Generation (TWh)
300
250
200
150
100
50
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
126
Table 51: Hydropower Market, Brazil, Hydropower Generation (TWh), 2006–2025

2006 348.8
2007 374.0
2008 369.6
2009 391.0
2010 403.3
2011 428.3
2012 415.3
2013 391.0
2014 373.4
2015 359.7
2016 365.8
2017 370.3
2018 376.1
2019 384.5
2020 392.1
2021 397.7
2022 401.7
2023 406.3
2024 409.9
2025 415.0
127
9.4.1 Hydropower Market, Brazil, Hydropower Generation, By Type, 2006–2025
Figure 46: Hydropower Market, Brazil, Hydropower Generation (TWh), 2006–2025

450
400
350
300
250
200
150
100
50
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
128
Table 52: Hydropower Market, Brazil, Hydropower Generation (TWh), By Type, 2006–2025
2006 342.7 6.1
2007 366.9 7.2
2008 359.7 9.9
2009 379.2 11.8
2010 389.6 13.7
2011 412.7 15.6
2012 398.1 17.3
2013 371.9 19.1
2014 353.8 19.6
2015 339.2 20.5
2016 344.4 21.4
2017 348.1 22.2
2018 353.0 23.1
2019 360.6 24.0
2020 367.3 24.8
2021 372.0 25.7
2022 375.2 26.5
2023 378.9 27.4
2024 381.7 28.2
2025 385.9 29.1
129
9.5 Hydropower Market, Brazil, Market Size ($bn), 2006–2025
2017–2025, the market size is expected to decline from $10.9 billion to $9.5 billion.
Figure 47: Hydropower Market, Brazil, Market Size ($bn), 2006–2025

12.0
10.0
Market size ($bn)
8.0
6.0
4.0
2.0
0.0
2019
2012
2007
2008
2011
2022
2006
2021
2009
2010
2017
2018
2014
2013
2016
2020
2015
2024
2023
2025
130
Table 53: Hydropower Market, Brazil, Market Size ($bn), 2006–2025

Year Market Size
2006 7.4
2007 9.0
2008 1.9
2009 3.0
2010 5.9
2011 4.9
2012 5.1
2013 4.8
2014 8.8
2015 6.8
2016 10.3
2017 10.9
2018 10.6
2019 9.7
2020 8.6
2021 3.5
2022 3.8
2023 5.0
2024 9.5
2025 9.5
9.6 Hydropower Market, Brazil, Tenders and Contracts, 2015–2016
The following table illustrates the major tenders and contracts in Brazil during 2015–2016.
Table 54: Hydropower Market, Brazil, Major Tenders and Contracts,2015–2016

Response
Announce-ment
Date
Award Date
WEG SA To Construct Three
May 12, 2016 Hydro Power Plants In Parana, Power Plant Construction Signed Lexys Holding Apr 28, 2016
Brazil
Andritz Hydro To Modernize 1276 COPEL -
Repair,
MW Governor Bento Munhoz da Generation Companhia
Feb 17, 2016 Maintenance, Signed 2016
Rocha Netto Hydropower Plant In Equipment Paranaense de
Upgrade & Others
Brazil Energia
Enel Green Power To Provide
Operation And Maintenance Electricity
Nov 26, 2015 Electricity Supply Signed – Nov 25, 2015
Services For Two Hydro Power Procurement
Plants In Brazil
China Three Gorges To Provide
Repair, Agencia Nacional
Operation And Maintenance
Nov 25, 2015 Power Plant Maintenance, Signed de Energia Eletrica, Nov 25, 2015
Services For Two Hydro Power
Upgrade & Others Brazil
Plants In Brazil
131
Celg To Provide Operation And

Maintenance Services For 4 MW
Rochedo Hydro Power Plant In
Brazil
Celesc Geracao To Provide
Operational And Maintenance
Services For Hydro Power Plants
In Brazil
Cemig To Provide Operation And
Maintenance Services For
Multiple Hydro Power Plants In
Brazil
Copel Generation To Provide
Operation And Maintenance Repair, Agencia Nacional
Nov 25, 2015 Services For 260 MW Governor Power Plant Maintenance, Signed de Energia Eletrica, Nov 25, 2015
Pedro Viriato Parigot de Souza Upgrade & Others Brazil
Hydro Power Plant In Brazil
Copel Geracao e Transmissao To
Nov 18, 2015 Construct Transmission Project In T&D Project Construction Signed – 2015
Brazil
State Grid Corporation Of China
To Construct Transmission Line
Jul 18, 2015 T&D Project Construction Signed – 2015
For The Belo Monte Hydroelectric
Dam In Brazil
ELM Consortium To Supply
Generators And Equipment For Generation
Jul 15, 2015 Supply & Erection Signed Norte Energia, S.A. 2015
Belo Monte Hydroelectric Equipment
Complex In Brazil
Eletrobras Invites Tenders To
Provide Engineering Services For Consulting &
Jun 15, 2015 Power Plant Closed Eletrobras Jul 15, 2015
Technical Upgradation Of Itaipu- Similar Services
Brazil Hydro Power Plant
Consortium Led By Ceming
Geracao Signs Power Purchase Electricity
Apr 30, 2015 Electricity Supply Signed – 2015
Agreement For 150 MW Itaocara Procurement
Hydro Electric Power Plant
132
9.7 Hydropower Market, Brazil, Major Active Plants, 2016
The following table illustrates the major active plants in Brazil in2016.
Table 55: Hydropower Market, Brazil, Major Active Plants, 2006–2015

Capacity Year
Plant River/Basin Owner Status
(MW) Online
Belo Monte Xingu – – Active 2016
Jirau Madeira – – Active 2016
Teles Pires Teles Pires – – Active 2016
Araguari/ R. China Three Gorges Corporation; EDP - Energias do Brasil,
Araguari 219 Active 2016
Guarani S.A.
Salto Apiacas Apiacas 45 Enel Green Power Salto Apiacas S.A. Active 2016
Cabeca de
Apiacas 30 Enel Brasil Participacoes Ltda Active 2016
Boi
Fazenda Apiacas 27 Enel S.p.A. Active 2016
Mata Velha Rio Preto 24 Dobreve Energia SA Active 2016
Santa
Turvo 10.5 - Active 2016
Carolina
133
9.8 Hydropower Market, Brazil, Major Upcoming Plants, 2018–2025
The following table illustrates the major upcoming plants in Brazil during 2018–2025 period.
Table 56: Hydropower Market, Brazil, Major Upcoming Plants, 2016–2025

Capacity Year
Plant River/Basin Owner Status
(MW) Online
Rio Madera Madera 3000 Eletrobras Participacoes SA Announced 2025
Jatoba Tapajos/Jamanxim 2320 Centrais Eletricas Brasileiras S.A. Announced 2019
Maraba Tocantins 2160 Centrais Eletricas Brasileiras S.A. Permitting 2019
Serra
Tocantins 1328 Centrais Eletricas Brasileiras S.A. Announced 2018
Quebrada
Jamanxim Tapajos/Jamanxim 882 Centrais Eletricas Brasileiras S.A. Announced –
Cemig Geracao e Transmissao S.A.; Centrais Eletricas
Cachoeira Brasileiras S.A. ; Centrais Eletricas do Norte do Brasil S.A.;
Jamanxim 802 Permitting –
do Cai Copel Geracao e Transmissao S.A.; EDF International S.A.;
Enel Brasil S.A.; Neoenergia SA
Garabi -
Uruguay 750 Centrais Eletricas Brasileiras S.A. Announced 2020
Brazil
Itapiranga Uruguay 725 Announced 2024
China Three Gorges Corporation; EDP - Energias do Brasil, Under
Sao Manoel Teles Pires 700 2018
S.A.; Furnas Centrais Eletricas S.A. Construction
Cemig Geracao e Transmissao S.A.; Centrais Eletricas
Cachoeira Brasileiras S.A. ; Centrais Eletricas do Norte do Brasil S.A.;
Jamanxim 528 Permitting –
dos Patos Copel Geracao e Transmissao S.A.; EDF International S.A.;
Enel Brasil S.A.; Neoenergia SA
Panambi -
Uruguay 524 Centrais Eletricas Brasileiras S.A. Announced –
Brazil
Centrais Eletricas do Norte do Brasil S.A.; Companhia
Under
Sinop Teles Pires 408 Hidro Eletrica do Sao Francisco; Electricite de France 2018
Construction
S.A.
134
9.9 Hydropower Market, Brazil, Investment Trends, 2016
9.9.1 Hydropower Market, Brazil, Deal Volume vs. Deal Value, 2006–2016
Deals in hydropower sector were approximately 6, at a total value of $6,828.9m in 2016. The number decreased
from 20 in 2010 to 6 in 2016, and the total deal value increased from $5,490.8m in 2010 to $6,828.9m in 2016.
Figure 48: Hydropower Market, Brazil, Deal Volume vs. Deal Value ($m), 2006–2016
30,000 50
45
25,000
40
35
20,000
Number of deals
Deal value ($m)
30
15,000 25
20
10,000
15
10
5,000
5
0 0
2008
2011
2007
2006
2010
2009
2014
2016
2013
2015
2012

135
Table 57:Hydropower Market, Brazil, Deal Volume vs. Deal Value ($m), 2006–2016
2006 6,006.2 16
2007 7,714.1 45
2008 13,633.2 45
2009 9,565.4 24
2010 5,490.8 20
2011 5,905.3 25
2012 27,922.3 29
2013 1,759.3 12
2014 5,507.0 16
2015 293.9 5
2016 6,828.9 6
9.9.2 Hydropower Market, Brazil, Split, by Deal Type, 2016
The hydropower market recorded a total number of 6 deals during 2016, of which most were asset transactions
followed by private offerings and equity offerings.
Figure 49: Hydropower Market, Brazil, Split, by Deal Type (%), 2016
Equity offerings,
17
Private offerings,
16
Asset transactions,
67
136
Table 58:Hydropower Market, Brazil, Deals by Type, 2016

Deal type Number
Private offerings 1
Equity offerings 1
9.10 Hydropower Market, Brazil, Major Policies
9.10.1.1 International Action Program, Brazil’s Hydropower Program
The International Action Program (IAP) was the outcome of the International Conference for Renewable Energies
that was conducted in Bonn in June 2004. The IAP includes 200 concrete actions and assurances for the
development of renewable energies, which were carried forward by the government, international organizations,
and stakeholders from civil society, the private sector, and other stakeholder groups.
The Brazilian government announced the Brazil Hydropower Program in March 2004, which aimed to increase
the supply of power from hydropower in the country. The implementation of projects is dependent upon a public
auction to guarantee both lower tariffs for final consumers and reductions in environmental impact.
The projects were expected to add 2,819 MW to the Brazilian interconnected system. According to the program
laws, there will be contracts between distribution utilities and project developers and an affirmed PPA covering a
period of 15–30 years.
The Electrical Sector Monitoring Committee, along with the MME, introduced a regulatory framework in 2004,
aimed at achieving the targets set by the project and taking adequate corrective measures.
9.10.1.2 Incentives for Small Hydropower Facilities, Law 9648
This policy offers incentives to small hydropower facilities with less than 30 MW of capacity, exempting them
from payment of financial compensation for the use of water resources. These facilities will receive a reduction
of 50% on transmission and distribution tariffs and are also permitted to sell energy directly to consumers with
more than 500 kW of capacity. Exemption from the public bidding process is also granted for these facilities,
upon authorization by ANEEL. Wherever thermal generation is replaced by hydropower generation, the affected
plants can take advantage of the Fuel Consumption Cost Account.
137
10 Hydropower Market, Europe
10.1 Hydropower Market, Europe, Overview
Hydropower is the major source of electricity generation in Europe. In 2016, Russia was leader in the
hydroelectricity generation followed by Norway, Tukrey, and Sweden. The total cumulative capacity of the region
was 298.7 GW in 2016 and is expected to reach 344.2 by 2025.
Europe’s electricity landscape is undergoing profound changes, as regards the aim of increasing the renewable
energy share and low carbon energy sector. Most of the hydropower developments in the region have already
been developed, and the pumped storage hydropower remains only the focused area of development. An area
such as western Balkan region provides wide opportunity for the hydropower development due to the large
catchment area of its rivers. Most of the region’s installed hydropower capacity is located in Scandinavian and
alpine nations and region’s eastern part still has unexploited hydropower potential.
The European hydropower development is facilitated by individual countries’ addition targets, and policies
supporting the renewable energy generation. The EU’s collective policy sets an ambitious target of producing
20% of its energy from renewable sources by 2020. The individual member countries’ policies like FiT and
planned capacity addition targets provide the lucrative opportunity to investors for the hydropower
development. National Renewable Energy Action Plans (NREAPs) indicate that increasingly the more variable
sources like wind and solar are expected to be introduced into the system; due to this power systems might
have to adjust to variable power intake. These fluctuations will have to be dealt with through back-up power and
flexible generation where hydropower provides a feasible alternative to this.
10.2 Hydropower Market, Europe, Installed Capacity, 2006–2025
The hydropower installed capacity in Europe increased from 260.8 GW in 2006 to 298.7 GW in 2016. During 2017–
2025, the cumulative capacity installations are expected to increase from 304.4 GW to 344.2 GW at a CAGR of
1.8%.
During 2017–2025, the net capacity additions are expected to decrease from 5.7 GW to 4.4 GW. It is expected
that an average of 5.1 GW of annual additions are take place during the same period.
The figure and table below illustrate hydropower installed capacity in Europe during 2006–2025 period.
138
Figure 50: Hydropower Market, Europe, Installed Capacity (GW), 2006–2025

400 2.5
350
2.0
300
250
1.5
Growth (%)
200
1.0
150
100
0.5
50
0 0.0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
139
Table 59: Hydropower Market, Europe, Installed Capacity (GW), 2006–2025

2006 1.0 260.8 –
2007 2.4 263.2 0.9
2008 2.2 265.4 0.9
2009 2.0 267.5 0.8
2010 3.0 270.5 1.1
2011 3.1 273.6 1.1
2012 5.6 279.2 2.0
2013 5.6 284.8 2.0
2014 3.8 288.6 1.3
2015 4.8 293.4 1.7
2016 5.3 298.7 1.8
2017 5.7 304.4 1.9
2018 5.6 309.9 1.8
2019 4.8 314.7 1.5
2020 5.2 320.0 1.7
2021 5.5 325.4 1.7
2022 5.0 330.4 1.5
2023 5.9 336.4 1.8
2024 3.5 339.8 1.0
2025 4.4 344.2 1.3
10.3 Hydropower Market, Europe, Installed Capacity, By Type, 2006–2025
10.3.1 Hydropower Market, Europe, Cumulative Installed Capacity, By Type, 2006–2025
the 2017–2025, installed capacity is expected to increase from 225.9 GW to 244.5 GW, at a CAGR of 1.0%.
The pumped storage installed capacity increased from 48.2 GW in 2006 to 55.5 GW in 2016, at a CAGR of 1.4%. It
is expected to increase from 57.2 GW in 2017 to 74.5 GW in 2025, at a CAGR of 3.4%.
small hydropower cumulative capacity is expected to increase from 21.3 GW in 2017 to 25.2 GW in 2025 at a
CAGR of 2.1%.
140
The following figure and table illustrate the cumulative hydropower installed capacity in Europe during the period
2006–2025.
Figure 51: Hydropower Market, Europe, Cumulative Installed Capacity (GW), 2006–2025
400
350
300
250
200
150
100
50
2023
2025
2008
2011
2007
2022
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
Large hydro Small hydro Pumped storage 2024

141
Table 60: Hydropower Market, Europe, Cumulative Installed Capacity (GW), 2006–2025
2006 196.6 15.9 48.2
2007 198.5 16.3 48.4
2008 200.0 16.6 48.8
2009 200.8 17.2 49.4
2010 203.1 17.6 49.8
2011 205.4 18.2 50.0
2012 210.2 18.7 50.3
2013 214.7 19.5 50.5
2014 217.6 20.0 51.0
2015 220.0 20.6 52.8
2016 222.3 20.9 55.5
2017 225.9 21.3 57.2
2018 229.6 21.8 58.6
2019 232.6 22.2 59.9
2020 235.3 22.7 62.0
2021 237.4 23.2 64.8
2022 239.1 23.7 67.6
2023 241.1 24.2 71.1
2024 243.0 24.7 72.1
2025 244.5 25.2 74.5
10.3.2 Hydropower Market, Europe, Annual Installed Capacity, By Type, 2006–2025
The annual installed capacity for large hydro increased from 0.2 GW in 2006 to 2.3 GW in 2016. During 2017–
2025, the annual installed capacity is expected to decrease from 3.6 GW to 1.5 GW.
The annual capacity additions for pumped storage increased from 0.4 GW in 2006 to 2.7 GW in 2016. During
2017–2025, the annual installed capacity is expected to increase from 1.7 GW to 2.4 GW.
The annual capacity additions for small hydro are expected to increase from 0.4 GW in 2017 to 0.5 GW in 2025 at
a CAGR of 3.0%.
142
The following figure and table illustrate the cumulative hydro annual installed capacity in Europe during the
period 2006–2025.
Figure 52: Hydropower Market, Europe, Annual Installed Capacity By Type (GW), 2006–2025
7.0
6.0
5.0
4.0
3.0
2.0
1.0
0.0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
143
Table 61: Hydropower Market, Europe, Annual Installed Capacity By Type (GW), 2006–2025
2006 0.2 0.4 0.4
2007 1.9 0.3 0.2
2008 1.5 0.4 0.3
2009 0.8 0.6 0.7
2010 2.3 0.4 0.3
2011 2.3 0.6 0.2
2012 4.8 0.5 0.3
2013 4.6 0.8 0.2
2014 2.9 0.5 0.4
2015 2.4 0.6 1.8
2016 2.3 0.4 2.7
2017 3.6 0.4 1.7
2018 3.7 0.4 1.5
2019 3.1 0.5 1.3
2020 2.6 0.5 2.1
2021 2.2 0.5 2.8
2022 1.7 0.5 2.8
2023 2.0 0.5 3.5
2024 2.0 0.5 1.0
2025 1.5 0.5 2.4
144
10.4 Hydropower Market, Europe, Hydropower Generation, 2006–2025
Net generation for hydropower in Europe increased from 720.2 TWh in 2006 to 817.2 TWh in 2016. It is expected
that generation from hydro will increase from 833.9 TWh in 2017 to 897.3 TWh in 2025, at a CAGR of 0.9%.
The following figure and table illustrate hydropower generation in Europe during 2006–2025 period.
Figure 53: Hydropower Market, Europe, Hydropower Generation (TWh), 2006–2025

1,000
900
800
700
Generation (TWh)
600
500
400
300
200
100
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
145
Table 62: Hydropower Market, Europe, Hydropower Generation (TWh), 2006–2025

2006 720.2
2007 728.6
2008 742.4
2009 748.7
2010 798.5
2011 723.9
2012 787.3
2013 819.8
2014 803.7
2015 794.5
2016 817.2
2017 833.9
2018 848.1
2019 855.7
2020 867.1
2021 876.9
2022 890.5
2023 895.2
2024 893.1
2025 897.3
146
10.4.1 Hydropower Market, Europe, Hydropower Generation, By Type, 2006–2025
Generation from large hydropower and pumped storage increased from 665.6 TWh in 2006, to 743.6 TWh in
2016. During 2017–2025, it is expected to increase from 758.6 TWh to 807.1 TWh at a CAGR of 0.8%.
The following figure and table illustrate the hydropower generation in Europe during 2006–2025 period.
Figure 54: Hydropower Market, Europe, Hydropower Generation (TWh), By Type, 2006–2025
1000
900
800
700
600
500
400
300
200
100
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014

147
Table 63: Hydropower Market, Europe, Hydropower Generation (TWh), By Type, 2006–2025
2006 665.6 54.6
2007 674.4 54.2
2008 683.6 58.7
2009 688.4 60.4
2010 730.7 67.8
2011 661.7 62.2
2012 727.7 59.6
2013 750.0 69.8
2014 728.9 74.8
2015 726.4 68.1
2016 743.6 73.6
2017 758.6 75.2
2018 771.3 76.9
2019 777.1 78.6
2020 786.7 80.4
2021 794.7 82.2
2022 806.3 84.1
2023 809.1 86.1
2024 804.9 88.2
2025 807.1 90.2
148
10.5 Hydropower Market, Europe, Market Size ($bn), 2006–2025
2017–2025, it is expected to decrease from $14.0 billion to $10.0 billion.
The following figure and table illustrate the hydropower market size in Europe during the period 2006–2025.
Figure 55: Hydropower Market, Europe, Market Size ($bn), 2006–2025

18.0
16.0
14.0
12.0
Market size ($bn)
10.0
8.0
6.0
4.0
2.0
-
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
149
Table 64: Hydropower Market, Europe, Market Size ($bn), 2006–2025

Year Market Size
2006 2.8
2007 5.3
2008 5.2
2009 4.9
2010 8.3
2011 7.9
2012 13.4
2013 13.7
2014 9.0
2015 11.8
2016 11.8
2017 14.0
2018 15.3
2019 12.0
2020 10.6
2021 10.9
2022 10.8
2023 12.2
2024 8.1
2025 10.0
150
11 Hydropower Market, Norway
11.1 Hydropower Market, Norway, Overview
Norway is one of the leading hydropower countries in Europe. It has been a major producer of hydroelectric
power for centuries, which is primarily due to natural resources and a geography that facilitates the building of
hydroelectric stations.. In the case of domestic production the country has nearly 96% of the total electricity
production. Thus, electricity production mix confirms it to be a non-CO 2 emitting country.
There is currently a substantial amount of interest in investment in small hydropower plants, since these plants
generally have a lower levelized cost of electricity generation in comparison with other renewable energy
sources. Small hydropower is also more environmentally friendly and has a gestation period of 2–5 years. With
the help of current policies and future developments, the country expects to almost double the small hydro
capacity by 2030. In the wake of new renewable policy, the government aims to revive the small hydropower
plants. The government assigned Norwegian Water Resources and Energy Directorate (NVE) the responsibility
for the development and promotion of small hydropower plants in the country.
The country’s hydropower development is also driven by policy initiatives such as Master Plan for Hydropower
Development. The plan sets out an order of priority for projects that can be considered for licensing, and divides
them in two categories. Category I include projects licensing procedures which may be started immediately.
Projects in category II and projects not covered in the plan may not be submitted for licensing at present.
Further tax exemption initiatives and policies for plants less than 5 MW are exempted from natural resource and
ground rent taxes. The cumulative hydropower capacity installations in the country increased from 28.7 GW in
2006 to 31.7 GW in 2016. In the 2017–2025 forecast period the installed capacity is expected to increase from
32.1 GW to 34.6 GW. The hydropower market size is expected to decline from $0.88 billion in 2017 to $0.38 billion
in 2025.
151
11.2 Hydropower Market, Norway, Installed Capacity, 2006–2025
0.9%.
The annual capacity installations are expected to decrease from 0.4 GW in 2017 to 0.2 GW in 2025. It is expected
The figure and table below illustrate hydro installed capacity in the country during the period 2006–2025.
Figure 56: Hydropower Market, Norway, Installed Capacity (GW), 2006–2025

40 2.5
35
2.0
30
25
1.5
Growth (%)
20
1.0
15
10
0.5
5
0 0.0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
152
Table 65: Hydropower Market, Norway, Installed Capacity (GW), 2006–2025

2006 0.2 28.7 –
2007 0.2 29.0 0.8
2008 0.5 29.4 1.6
2009 0.1 29.5 0.4
2010 0.2 29.7 0.5
2011 0.3 30.0 0.9
2012 0.5 30.5 1.8
2013 0.5 31.0 1.7
2014 0.2 31.2 0.7
2015 0.1 31.4 0.4
2016 0.3 31.7 1.0
2017 0.4 32.1 1.4
2018 0.5 32.6 1.5
2019 0.5 33.1 1.5
2020 0.5 33.5 1.4
2021 0.3 33.8 0.8
2022 0.2 34.0 0.6
2023 0.2 34.2 0.6
2024 0.2 34.4 0.6
2025 0.2 34.6 0.6
11.3 Hydropower Market, Norway, Installed Capacity, By Type, 2006–2025
11.3.1 Hydropower Market, Norway, Cumulative Installed Capacity, By Type, 2006–2025
Large hydro installed capacity increased from 26.2 GW in 2006 to 28.1 GW in 2016 at a CAGR of 0.7%. During
2017–2025, installed capacity is expected to increase from 28.4 GW to 30.0 GW.
It is expected that there will be no capacity additions for pumped storage during 2017–2025 and it is to remain
the same at 1.3 GW.
The small hydro installed capacity increased from 1.2 GW in 2006 to 2.3 GW in 2016 at a CAGR of 6.3%. It is
expected to increase from 2.4 GW in 2017 to 3.2 GW in 2025 at a CAGR of 4.0%.
153
The following figure and table illustrate the cumulative hydro installed capacity in the country during the period
2006–2025.
Figure 57: Hydropower Market, Norway, Cumulative Installed Capacity (GW), By Type, 2006–2025
40
35
30
25
20
15
10
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012

154
Table 66: Hydropower Market, Norway, Cumulative Installed Capacity (GW), By Type, 2006–2025
2006 26.2 1.2 1.3
2007 26.3 1.3 1.3
2008 26.6 1.4 1.3
2009 26.7 1.5 1.3
2010 26.7 1.7 1.3
2011 26.9 1.7 1.3
2012 27.3 1.9 1.3
2013 27.7 2.0 1.3
2014 27.8 2.1 1.3
2015 27.9 2.2 1.3
2016 28.1 2.3 1.3
2017 28.4 2.4 1.3
2018 28.8 2.5 1.3
2019 29.2 2.6 1.3
2020 29.5 2.7 1.3
2021 29.7 2.8 1.3
2022 29.8 2.9 1.3
2023 29.9 3.0 1.3
2024 29.9 3.1 1.3
2025 30.0 3.2 1.3
155
11.3.2 Hydropower Market, Norway, Annual Installed Capacity, By Type, 2006–2025
Pumped storage is not expected to witness any capacity additions during 2017–2025 mirroring its historic trend.
The following figure and table illustrate the cumulative hydro annual installed capacity in the country during the
period 2006–2025.
Figure 58: Hydropower Market, Norway, Annual Installed Capacity (GW), By Type, 2006–2025
0.6
0.5
0.4
0.3
0.2
0.1
0.0
2023
2025
2008
2011
2007
2022
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
156
Table 67: Hydropower Market, Norway, Annual Installed Capacity (GW), By Type, 2006–2025
2006 0.07 0.11 –
2007 0.15 0.08 –
2008 0.33 0.13 –
2009 0.02 0.11 –
2010 0.04 0.12 –
2011 0.18 0.10 –
2012 0.42 0.12 –
2013 0.41 0.11 –
2014 0.13 0.08 –
2015 0.03 0.09 –
2016 0.23 0.09 –
2017 0.35 0.10 –
2018 0.37 0.10 –
2019 0.39 0.10 –
2020 0.35 0.10 –
2021 0.16 0.11 –
2022 0.08 0.11 –
2023 0.08 0.11 –
2024 0.08 0.11 –
2025 0.08 0.11 –
11.4 Hydropower Market, Norway, Hydropower Generation, 2006–2025
Net generation for hydropower in the country increased from 119.7 TWh in 2006 to 142.5 TWh in 2016. It is
1.4%.
157
Figure 59: Hydropower Market, Norway, Hydropower Generation (TWh), 2006–2025

180
160
140
120
Generation (TWh)
100
80
60
40
20
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
158
Table 68: Hydropower Market, Norway, Hydropower Generation (TWh), 2006–2025

2006 119.7
2007 134.7
2008 140.0
2009 126.1
2010 117.2
2011 121.6
2012 142.8
2013 128.7
2014 136.2
2015 138.6
2016 142.5
2017 144.5
2018 147.9
2019 150.1
2020 152.5
2021 154.6
2022 156.3
2023 158.3
2024 159.2
2025 161.3
159
11.4.1 Hydropower Market, Norway, Hydropower Generation, By Type, 2006–2025
Generation from large hydropower and pumped storage increased from 114 TWh in 2006 to 132.2 TWh in 2016.
The generation through small hydro increased from 5.7 TWh in 2006 to 10.3 TWh in 2016. During 2017–2025, it is
Figure 60: Hydropower Market, Norway, Hydropower Generation, By Type (TWh), 2006–2025
180
160
140
120
100
80
60
40
20
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
160
Table 69: Hydropower Market, Norway, Hydropower Generation (TWh), By Type, 2006–2025
2006 114.0 5.7
2007 128.1 6.6
2008 132.8 7.1
2009 119.0 7.0
2010 111.2 6.0
2011 116.1 5.5
2012 136.9 5.9
2013 120.1 8.6
2014 126.6 9.6
2015 128.7 9.8
2016 132.2 10.3
2017 133.7 10.8
2018 136.6 11.3
2019 138.3 11.8
2020 140.1 12.3
2021 141.7 12.9
2022 142.8 13.4
2023 144.3 14.0
2024 144.7 14.6
2025 146.1 15.2
161
11.5 Hydropower Market, Norway, Market Size ($m), 2006–2025
Market size of hydropower decreased from $356.9m in 2006 to $650.9m in 2016. During 2017–2025, it is
expected to decrease from $882.5m to $379.4m.
Figure 61: Hydropower Market, Norway, Market Size ($m), 2006–2025

1,200
1,000
800
Market size ($m)
600
400
200
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
162
Table 70: Hydropower Market, Norway, Market Size ($m), 2006–2025

Year Market Size
2006 356.9
2007 469.7
2008 921.6
2009 254.2
2010 310.2
2011 554.9
2012 1,083.8
2013 1,049.8
2014 414.0
2015 235.7
2016 650.9
2017 882.5
2018 937.7
2019 982.0
2020 900.9
2021 528.9
2022 373.8
2023 377.2
2024 378.4
2025 379.4
163
11.6 Hydropower Market, Norway, Tenders and Contracts, 2016
The following table illustrates the major tenders and contracts in Norway in 2016.
Table 71: Hydropower Market, Norway, Major Tenders and Contracts, 2016
Response
Announcement Client
Description Segment Category Status End/ Contract
Date Company
Award Date
Repair,
Voith To Upgrade Control Systems At
Generation Maintenance, Sira-Kvina
Nov 07, 2016 Tonstad And Solhom Hydro Power Plants Signed 2016
Equipment Upgrade & Kraftselskap
In Norway
Others
Rainpower To Design And Supply
Generation Supply & Rauma
Oct 25, 2016 Turbine/Generator Unit For Verma Power Signed 2016
Equipment Erection Energy AS
Station In Norway
Skanska To Construct 22.5 MW Verma Power Rauma
Oct 18, 2016 Construction Signed 2016
Hydro Power Plant In Norway Plant Energy
Skanska To Construct 85 MW Nedre Otta Eidsiva
Power
Sep 26, 2016 Hydro Power Plant In Sel And Vaga Construction Signed Vannkraft 2016
Plant
Municipalities Of Oppland County, Norway AS
Repair,
Rainpower To Refurbish Hydro Turbine Of Generation Maintenance, Skagerak
29-Aug-2016 Signed 2016
Bjordalen Power Plant In Hjartdal, Norway Equipment Upgrade & Energi AS
Others
Hymatek To Supply Control Systems For
Generation Supply & Skagerak
Aug 11, 2016 Bjordalen Power Stations In Hjartdal In Signed 2016
Equipment Erection Energi AS
Telemark, Norway
Energi Teknikk To Supply A Horizontal
Francis Turbine And Other Generation Supply &
Jun 17, 2016 Signed – 2016
Electromechanical Equipment For Equipment Erection
Briksdalen Hydro Power Plant In Norway
Energi Teknikk To Supply A Pelton
Turbine And Other Electromechanical Generation Supply &
Jun 15, 2016 Signed – 2016
Solution For Tesgjolo Hydro Power Plant Equipment Erection
In Norway
Rainpower To Supply Horizontal Francis
Generation Supply &
Jun 14, 2016 Turbine, Generator And Other Equipment Signed – 2016
Equipment Erection
For Svelgen 1 Power Plant In Norway
Energi Teknikk To Supply A Pelton
Turbine And Other Electromechanical Generation Supply &
Mar 22, 016 Signed – 2016
Equipment For Kupe Hydro Power Plant Equipment Erection
In Norway
164
11.7 Hydropower Market, Norway, Major Active Plants, 2015–2016
The following table illustrates the major active plants in Norway during 2015–2016 period.
Table 72: Hydropower Market, Norway, Major Active Plants, 2015–2016

Plants River/Basin Capacity (MW) Owner Year Online
Nedre Rossaga – – – 2016
Iveland II Otra 44 Agder Energi AS 2016
Smadola – 13.7 A/S Eidefoss 2015
Ovre Forsland Forslandselva 10.3 HelgelandsKraft AS 2015
11.8 Hydropower Market, Norway, Major Upcoming Plants, 2017–2020
The following table illustrates the major upcoming power plants in Norway during 2017–2020 period.
Table 73: Hydropower Market, Norway, Major Upcoming Plants,2017–2020

Capacity
Plants River/Basin Owner Status Year Online
(MW)
Under
Lysebotn II – 370 Lyse Produksjon As 2018
Construction
A/S Eidefoss; E-CO Energi Holding Under
Nedre Otta Otta 86 2020
AS; Eidsiva Vannkraft AS Construction
Under
Rosten Gudbrandsdalslagen 80 Oppland Energi AS 2017
Construction
Under
Govddesaga – 29 SKS Produksjon AS
Construction
Under
Ringedalen – 23 Statkraft AS 2018
Construction
Under
Tosdalen – 19.3 HelgelandsKraft AS 2017
Construction
New Oldereid Power
Gjommervann 15 SKS Produksjon AS Permitting –
Plant
Fennefoss Otta 11 Agder Energi Production AS Permitting
Mork Mork 10 E-CO Energi Holding AS Permitting 2017
Under
Vangjolo – 9.5 Clemens Kraft AS –
Construction
Under
Bjastad Bjastadelvi 9.3 Smakraft AS –
Construction
Under
Romoyri - 8.5 Smakraft AS –
Construction
Under
Bjornstokk Bjornstokkelva 8.2 HelgelandsKraft AS 2017
Construction
Under
Storelva kraft Storelva 8 HelgelandsKraft AS 2017
Construction
Under
Ullestadana – 8 Ullestad Kraft AS –
Construction
Aspevik – 7.4 Clemens Kraft AS Permitting –
165
Under
Vossedalselvi – 7.2 Clemens Kraft AS –
Construction
Gjerdeelva – 7 Clemens Kraft AS Permitting –
Staurset Staurset 6.7 Clemens Kraft AS Permitting –
11.9 Hydropower Market, Norway, Investment Trends, 2016
11.9.1 Hydropower Market, Norway, Deal Volume vs. Deal Value, 2006–2016
Deals in hydropower sector were approximately 4, at a total value of $171.4m in 2016. The number decreased
from 5 in 2010 to 4 in 2016, and the total deal value decreased from $2,859.7m in 2010 to $171.4m in 2016.
Figure 62: Hydropower Market, Norway, Deal Volume vs. Deal Value ($m), 2006–2016
3,500 12
3,000
10
2,500
8
Number of deals
Deal value ($m)
2,000
6
1,500
4
1,000
2
500
0 0
2006
2009
2016
2013
2015
2012
2008
2011
2007
2010
2014

166
Table 74:Hydropower Market, Norway, Deal Volume vs. Deal Value ($m), 2006–2016
2006 1,143.2 6
2007 268.3 6
2008 1,116.5 9
2009 578.0 5
2010 2,859.7 5
2011 1,934.6 6
2012 1,616.7 11
2013 2,828.9 9
2014 378.4 11
2015 1,314.0 9
2016 171.4 4
11.9.2 Hydropower Market, Norway, Split, by Deal Type, 2016
followed by asset transactions.
Figure 63: Hydropower Market, Norway, Split, by Deal Type (%), 2016
Asset transactions,
25
Debt offerings,
75
167
Table 75:Hydropower Market, Norway, Deals by Type, 2016

Deal type Number
Debt offerings 3
11.10 Hydropower Market, Norway, Major Policies
11.10.1 Master Plan for Hydropower Development
The master plan for hydropower development is a recommendation in the form of a white paper from the
government to the starting. The plan sets out an order of priority for projects that can be considered for
licensing, and divides them in two categories. Category I include projects licensing procedures which may be
started immediately. Projects in category II and projects not covered in the plan may not be submitted for
licensing at present. The order of the priority is based on economic considerations and assessments of the
degree of conflict with other interests. The main intention was to confirm that river systems which may provide
the cheapest power and least environmental impact to be developed first.
11.10.1.1 National Renewable Energy Action Plan
Under the EU Directive 2009/28/EC, EU members are obliged to draft and submit National Renewable Energy
Action Plans (NREAPs) to the European Commission, outlining how they intend to meet their 2020 renewable
energy, energy efficiency, and GHG targets. Norway has adopted the RES Directive as part of the European
Economic Area agreement.
Under this policy, Norway has the overall target of 67.5% of energy generated from renewable sources in gross
final energy consumption.
11.10.1.2 Norway–Sweden Green Certificate Scheme for Electricity Production
Norway and Sweden established a joint electricity certificate market in January 2012. Norway committed to
finance 50% of the certificates, regardless of which country the production facility is in. This certificate market is
expected to lead to the establishment of capacity corresponding to annual renewable power generation of 26.4
TWh, between 2012 and 2020 (MPE, 2012).
11.10.2 Energix Program
The Energix program provides funding for research on renewable energy, the efficient use of energy, energy
systems, and energy policy. It provides guidelines for R&D sectors that are seeking funding for research projects
and also helps in achieving key energy and industrial policy objectives. The program is an important instrument
in the implementation of the national Energi21 research, development, and design strategy.
168
11.10.3 Tax Exemptions for Small Scale Hydropower Plants
Hydropower plants less than 5 MW are exempted from natural resource and ground rent taxes.
11.10.4 Energi21
Energi21 is the Ministry of Petroleum and Energy’s permanent strategic body for research, development, and
demonstration in the energy sector.
The main purpose of Energi21 is to provide the Ministry of Petroleum and Energy with recommendations on
future strategic priority areas. It also provides insights to develop new climate-friendly and environment-friendly
solutions in the energy sphere.
11.10.5 The Energi21 Strategy 2014
In the 2014 strategy report, the Energi21 board recommends strong growth in public funding for research,
development, and demonstration within the following six areas:
• Hydropower
• Flexible energy systems
• Solar power
• Offshore wind power
• Raising energy efficiency
• Carbon capture and storage
Among these six priority focus areas, the Energi21 focuses on devoting special attention to hydropower and
flexible energy systems. These two areas represent the very foundation of Norway’s energy system and are
vitally important for current as well as future value creation both nationally and internationally.
The Energi21 report recommends wide-ranging activities based on access to ample, reliable public research
funding, beneficial market incentives, commitment, and active participation by different industries.
169
12 Hydropower Market, Turkey
12.1 Hydropower Market, Turkey, Overview
Turkey is one of the largest emerging hydropower countries in the world; in 2016 the country was fourth in the
annual capacity installations with 1.4 GW while the cumulative capacity installations were 27.2 GW. The country’s
geography provides considerable opportunity for hydropower development and possesses considerable hydro
potential in the form of rivers and lakes, especially in the regions at high altitudes around the Black Sea. In the
coming decade Turkey has ambitious plans for the hydropower development; as of 2015 nearly 40% of the total
potential was tapped and around 15% is under construction. The Turkish hydroelectricity generation in 2015
accounts for around 26% of the country’s total power generation. Turkey has traditionally utilized its hydro
potential in electricity generation. The year 2014 witnessed a drop in hydro-based power generation due to a
severe drought. Based on water and rain levels, hydro-based power generation exhibits a high degree of
variation.
The government is increasing its focus on the construction of new hydropower plants in order to meet growing
energy demand and diversify the power mix in the country. Turkey plans to utilize all of its economically usable
hydropower potential. Under its 10th development plan the Turkish government announced the investment of
around $16 billion until 2018. The country’s electricity interconnections into European grid and potential for
linkages into Asia are thus expected to increase the hydropower capacity installations in the forecast period.
These recent developments will boost the annual hydropower capacity additions, thus making average annual
capacity additions of 1.1 GW in the 2017–2025 forecast period.
Hydropower development is supported by the set of policies which includes 30% target for renewable by 2023,
and the FiT for the projects completed by the end of 2015. Turkey adjusted its renewable support mechanism in
2010 into a more incentivizing scheme and, among other aspects, a FiT mechanism denominated in US cents
has been set in place. The FiT system provides the companies with constant and foreseeable cash flows that
ultimately reduce the risks associated with the price, volume, and domestic currency. Thus, project bankability is
quite high. Some of the exemptions on customs, license fee exemptions, and VAT exemptions are also adding
support for the renewable energy projects development. The cumulative hydro installed capacity witnessed 9.4%
growth in 2015 with 25.9 GW and in 2016 cumulative installed capacity was increased to 27.2 GW.
12.2 Hydropower Market, Turkey, Installed Capacity, 2006–2025
2.8%.
170
During 2017–2025, the net capacity additions are expected to decrease from 2.2 GW to 0.4 GW. It is expected
Figure 64: Hydropower Market, Turkey, Installed Capacity (GW), 2006–2025

40 16
35 14
30 12
25 10
Growth (%)
20 8
15 6
10 4
5 2
0 0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024

171
Table 76: Hydropower Market, Turkey, Installed Capacity (GW), 2006–2025

2006 0.2 13.1 –
2007 0.3 13.4 2.5
2008 0.4 13.8 3.2
2009 0.7 14.55 5.2
2010 1.3 15.83 8.8
2011 1.3 17.1 8.2
2012 2.5 19.6 14.4
2013 2.7 22.3 13.7
2014 1.4 23.6 6.1
2015 2.2 25.9 9.4
2016 1.4 27.2 5.3
2017 2.2 29.4 8.1
2018 2.2 31.6 7.4
2019 1.9 33.5 5.9
2020 0.6 34.1 1.9
2021 0.6 34.7 1.8
2022 0.6 35.3 1.7
2023 0.5 35.8 1.5
2024 0.5 36.3 1.4
2025 0.4 36.8 1.2
12.3 Hydropower Market, Turkey, Installed Capacity, By Type, 2006–2025
12.3.1 Hydropower Market, Turkey, Cumulative Installed Capacity, By Type, 2006–2025
The small hydro installed capacity increased from 0.2 GW in 2006 to 1.1 GW in 2016 at a CAGR of 19.8%. The small
hydropower cumulative capacity is expected to increase from 1.2 GW in 2017 to 1.7 GW in 2025 at a CAGR of
5.0%.
172
Figure 65: Hydropower Market, Turkey, Cumulative Installed Capacity (GW), By Type 2006–2025
40
35
30
25
20
15
10
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
Large hydro Small hydro
173
Table 77: Hydropower Market, Turkey, Cumulative Installed Capacity (GW), By Type, 2006–2025
Year Large hydro (GW) Small hydro(GW)
2006 12.9 0.2
2007 13.2 0.2
2008 13.6 0.2
2009 14.3 0.3
2010 15.5 0.3
2011 16.8 0.4
2012 19.2 0.4
2013 21.7 0.6
2014 22.8 0.8
2015 24.8 1.1
2016 26.1 1.1
2017 28.3 1.2
2018 30.4 1.2
2019 32.2 1.3
2020 32.7 1.4
2021 33.3 1.5
2022 33.8 1.5
2023 34.2 1.6
2024 34.7 1.7
2025 35.0 1.7
12.3.2 Hydropower Market, Turkey, Annual Installed Capacity, By Type, 2006–2025
174
The following figure and table illustrate the cumulative hydro annual installed capacity in Turkey during the
period 2006–2025.
Figure 66: Hydropower Market, Turkey, Annual Installed Capacity (GW), By Type, 2006–2025
3.0
2.5
2.0
1.5
1.0
0.5
0.0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
175
Table 78: Hydropower Market, Turkey, Annual Installed Capacity (GW), By Type, 2006–2025
Year Large hydro (GW) Small hydro (GW)
2006 0.15 0.01
2007 0.31 0.02
2008 0.39 0.04
2009 0.70 0.02
2010 1.23 0.05
2011 1.25 0.05
2012 2.45 0.03
2013 2.48 0.20
2014 1.11 0.24
2015 1.99 0.24
2016 1.32 0.05
2017 2.16 0.06
2018 2.11 0.06
2019 1.79 0.07
2020 0.55 0.07
2021 0.54 0.07
2022 0.51 0.07
2023 0.47 0.07
2024 0.42 0.07
2025 0.36 0.07
176
12.4 Hydropower Market, Turkey, Generation, 2006–2025
expected that generation from hydro will increase from 74.0 TWh in 2017 to 74.4 TWh in 2025.
Figure 67: Hydropower Market, Turkey, Hydropower Generation (TWh), 2006–2025

100
90
80
70
Generation (TWh)
60
50
40
30
20
10
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
177
Table 79: Hydropower Market, Turkey, Hydropower Generation (TWh), 2006–2025

2006 44.2
2007 35.9
2008 33.3
2009 36.0
2010 51.8
2011 52.3
2012 57.9
2013 59.4
2014 40.6
2015 66.9
2016 68.9
2017 74.0
2018 79.6
2019 78.6
2020 83.0
2021 87.4
2022 91.9
2023 87.4
2024 78.2
2025 74.4
178
12.4.1 Hydropower Market, Turkey, Hydropower Generation, By Type, 2006–2025
Generation from large hydropower increased from 43.7 TWh in 2006 to 66.8 TWh in 2016. During 2017–2025, it is
expected to decrease from 71.8 TWh to 70.6 TWh.
Figure 68: Hydropower Market, Turkey, Hydropower Generation (TWh), By Type, 2006–2025
100
90
80
70
60
50
40
30
20
10
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
179
Table 80: Hydropower Market, Turkey, Hydropower Generation (TWh), By Type, 2006–2025
Year Large hydro Small hydro
2006 43.7 0.5
2007 35.4 0.5
2008 32.8 0.5
2009 35.4 0.5
2010 51.0 0.8
2011 51.5 0.8
2012 56.9 0.9
2013 58.4 1.0
2014 40.0 0.7
2015 65.8 1.1
2016 66.8 2.1
2017 71.8 2.2
2018 77.2 2.4
2019 76.1 2.6
2020 80.2 2.8
2021 84.5 3.0
2022 88.8 3.2
2023 84.0 3.4
2024 74.6 3.6
2025 70.6 3.8
180
12.5 Hydropower Market, Turkey, Market Size ($bn), 2006–2025
2017–2025, it is expected to decrease from $6.3 billion to $1.2 billion.
Figure 69: Hydropower Market, Turkey, Market Size ($bn), 2006–2025

9.0
8.0
7.0
Market size ($bn)
6.0
5.0
4.0
3.0
2.0
1.0
-
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
181
Table 81: Hydropower Market, Turkey, Market Size ($bn), 2006–2025

Year Market Size
2006 0.5
2007 1.0
2008 1.3
2009 2.1
2010 3.7
2011 3.8
2012 7.1
2013 7.7
2014 3.9
2015 6.4
2016 3.9
2017 6.3
2018 6.2
2019 5.3
2020 1.8
2021 1.7
2022 1.7
2023 1.5
2024 1.4
2025 1.2
182
12.6 Hydropower Market, Turkey, Tenders and Contracts, 2015–2016
The following table illustrates the major tenders and contracts in Turkey during 2015–2016 period.
Table 82: Hydropower Market, Turkey, Major Tenders and Contracts, 2015–2016
Response
Announcement
Date
Award Date
Energo-Pro To Construct 99.5 MW
Aug 28, 2016 Hydro Plant In Erzurum Province Power Plant Construction Signed – 2016
In Northeastern Turkey
Poyry To Provide Detailed Design
Kalehan Enerji
Services Assignment For Lower Consulting &
Jun 07, 2016 Power Plant Signed Uretim ve 2016
Kalekoy Hydroelectric Power Plant Similar Services
Ticaret A.S.
And Dam In Turkey
Gilkes To Supply A 7015kW Hydro
Generation Supply &
Jul 29, 2015 Turbine For Dereici Hydro Electric Signed – 2015
Equipment Erection
Power Plant In Turkey
Gamesa To Supply Two
Generation Supply &
Jun 08, 2015 Generators For Carikli Hydro Signed – 2015
Equipment Erection
Power Plant In Turkey
Gamesa To Supply Three Direct
Generation Supply &
Jun 08, 2015 Drive Electric Generators For The Signed – 2015
Equipment Erection
Erik Hydro Power Plant In Turkey
Wasserkraft To Supply Francis
Eltes Enerji
Turbine And Other Equipment For Generation Supply &
Oct 16, 2012 Signed Muhendislik Ltd. 2016
Koroglu Hydro Power Plant In Equipment Erection
STI.
Turkey
183
12.7 Hydropower Market, Turkey, Major Active Plants, 2015–2016
The following table illustrates the major active plants during 2015–2016 period.
Table 83: Hydropower Market, Turkey, Major Active Plants, 2015–2016

Capacity Year
Plants River/Basin Owner
(MW) Online
Artvin Dam and Hydroelectric Power
Coruh 340 Dogus Insaat Ve Ticaret A.S. 2016
Plant
Goktas II Seyhan 155 Bereket Enerji Uretim A.S. 2015
Ayvali Coruh 135 – 2015
Pembelik Peri 131.6 Bilgin Enerji Yatirim Holding A.S.; Limak Enerji A.S. 2015
Goktas I Seyhan 125 Bereket Enerji Uretim A.S. 2015
Kargi Kizilirmak 102 Statkraft Energi AS 2015
Altek Alarko Elektrik Santrallari Tesis, Isletme ve
Karakuz Hydropower Station Korkut 76 2015
Tic. AS
Tepekisla – 74 Sanko Enerji Uretim Sanayi Ve Ticaret A.S. 2015
Tepekisla Kelkit 74 Sanko Enerji Uretim Sanayi Ve Ticaret A.S. 2015
Tepekisla – – – 2015
Tepekisla Kelkit – – 2015
Bucakkisla Goksu 41 Yapisan Elektrik Uretim A.S. 2015
Cileklitepe Kavaduva 23.13 IC Ictas Enerji Yatirim Holding A.S. 2015
Bolu Goksu Mudurnu 17.18 – 2015
Kopruyani – 12 – 2015
Koprubasi (Trabzon) Manahoz 8.2 Odas Elektrik Uretim ve Sanayi Ticaret AS 2015
Dereici – 7.2 Gun-Tas Enerji Elektrik Uretim A.S. 2016
Incebel Pasinler 7.2 – 2015
Guneyyaka – 6.926 Ahem Elektrik Uretim A.S. 2015
184
12.8 Hydropower Market, Turkey, Major Upcoming Plants, 2017–2028
The following table illustrates the major upcoming plants during 2017–2018 period.
Table 84: Hydropower Market, Turkey, Major Upcoming Plants, 2017–2018

Plants River/Basin Capacity (MW) Owner Status Year Online
Ilisu Tigris 1200 Devlet su Isleri Genel Mudurlugu Under Construction –

Yukari Kalekoy Firat/Murat 636.6 Cengiz Holding A.S.; Ozaltin Holding Under Construction 2017
Asagi Kalekoy Firat 500 Cengiz Holding A.S.; Ozaltin Holding Under Construction –
Pervari Botan 400 Enerjisa Enerji Uretim A.S. Under Construction 2018
Doganli 3 Zap 295 Ronesans Holding Anonim Sirketi Announced –
Alpaslan II Murat 292 Enerjisa Enerji Uretim A.S. Under Construction 2018
Cukurca Zap 280 Ronesans Holding Anonim Sirketi Announced –
Hakkari Zap 208 Devlet su Isleri Genel Mudurlugu Permitting –
Dilek Guroluk HEPP Hemsin 180 BM Holding A.S. Under Construction –
Incir Buyuk Cay 168.4 BM Holding A.S. Under Construction 2018
185
12.9 Hydropower Market, Turkey, Investment Trends, 2016
12.9.1 Hydropower Market, Turkey, Deal Volume vs. Deal Value, 2006–2016
Figure 70: Hydropower Market, Turkey, Deal Volume vs. Deal Value ($m), 2006–2016
4,000 18
3,500 16
14
3,000
12
2,500
Number of deals
Deal value ($m)
10
2,000
8
1,500
6
1,000
4
500 2
0 0
2008
2011
2007
2006
2010
2009
2014
2016
2013
2015
2012

186
Table 85:Hydropower Market, Turkey, Deal Volume vs. Deal Value ($m), 2006–2016
2006 15.6 1
2007 110.6 8
2008 2,506.0 5
2009 960.7 9
2010 3,775.7 16
2011 234.5 7
2012 29.4 1
2013 747.6 9
2014 604.5 5
2015 80.5 1
2016 534.0 5
12.9.2 Hydropower Market, Turkey, Split, by Deal Type, 2016
The hydropower market recorded a total number of 5 deals during 2016, of which most were asset transactions
followed by acquisition and debt offerings.
Figure 71: Hydropower Market, Turkey, Split, by Deal Type (%), 2016
Debt offerings,
25
Asset transactions,
50
Acquisition,
25

187
Table 86:Hydropower Market, Turkey, Deals by Type, 2016

Deal type Number
Acquisition 1
Debt offerings 1
12.10 Hydropower Market, Turkey, Major Policies
12.10.1 Renewable Energy Targets
Turkey has the following targets:
• To generate 30% of its power needs from renewable sources, by 2023
• To reduce energy consumption by 10% by 2015, and 20% by 2023
12.10.2 Climate Investment Funds
The Clean Technology Fund (CTF) provides incentives for developing countries with the aim of promoting the
demonstration, deployment, and transfer of technologies that provide for the increased reduction of GHG
emissions in the long term.
A CTF investment plan is submitted by each country for the integration into their national development
objectives. CTF funds are provided through multilateral development banks.
The fund provides financing for large-scale, country-initiated projects in the following areas:
• The power sector – renewable energy and highly efficient technologies to reduce carbon emissions
• The transport sector – higher efficiency and modal shifts
• Energy efficiency of buildings, industry, and agriculture
Around two-thirds of the CTF is awarded to the renewable energy sector, compared with one-fifth for energy
efficiency, and around 14% percent for sustainable transport. Around $8 is sourced from external sources for
every $1 of the CTF.
In 2009, Turkey became one of the first countries to receive the CTF’s funding. Under the CTF, projects related
to renewable resources and improving energy efficiency in industry and small and medium-sized enterprises are
provided with support. The CTF is also used to develop smart grid solutions for the better integration of
renewable resources in the transmission grid.
188
In the area of renewable energy, the CTF provides financing to support the development of 800 MW of
renewable capacity through $250m of funding. These CTF funds are expected to leverage $2.25 billion from the
government, European Bank for Reconstruction and Development, the International Bank for Reconstruction
and Development, International Finance Corporation, and the private sector.
12.10.3 The Use of Renewable Energy Resources for the Generation of Electrical Energy (Law No.
5346)
Law No. 5346, which is related to the Use of Renewable Energy Resources for the Generation of Electrical
Energy (or the Law on the Utilization of Renewable Energy Resources for Electricity Generation), was introduced
on May 10, 2005. It is the first specific renewable energy law to have been established in Turkey.
Its purpose is to promote the use of renewable energy sources for electrical energy generation, by establishing
the necessary legal and regulatory framework. Through this law, the government aims to increase the
diversification of its energy demands, reduce GHG emissions, conduct waste assessment, carry out
environmental protection, and develop the manufacturing sector, in relation to renewable energy products.
The renewable energy sources included under this act are wind, solar, geothermal, biomass, biogas, wave, tidal,
and hydropower. The law states systems that produce power from renewable energy resources will be issued
with a Renewable Energy Source (RES) certificate, which will enable such systems to benefit from the incentives
granted by the law.
Under the scope of this law, power generated by renewable energy plants that hold a Renewable Energy
Support (Yenilenebilir Enerji Kaynakları, (YEK)) certificate, and have not completed 10 years of operation, is
purchased through bilateral agreements between the legal entities responsible for the retail sale license in
question. Each legal entity is entitled to purchase YEK-certified electrical energy equivalent to the amount
declared by the EMRA on an annual basis. The amount of YEK-certified electrical energy that may be purchased
by a legal entity is based on the amount of energy sold by the retail sale license holder in the previous calendar
year, as a proportion of the total amount of electrical energy sold in Turkey by all legal entities holding retail sale
licenses.
The price of the power purchased within the scope of this law, for each year, will be equivalent to the average
wholesale power price in the previous year, which is determined by EMRA. The Council of Ministers can raise this
price by a maximum of 20% at the beginning of each year.
Under the law, any development plans that might have a negative effect on the utilization and efficiency of
renewable energy resources can no longer be developed on public land.
Within the framework of the Renewable Energy Law, investment is provided for:
• Energy generation facilities
189
• The procurement of locally manufactured electromechanical systems
• R&D in the scope of power generation systems using solar cells and concentrated collectors
R&D facilities, for the generation of power or fuel through the utilization of biomass resources, can benefit from
the incentives established by the Council of Ministers.
190
13 Hydropower Market, Russian Federation
13.1 Hydropower Market, Russian Federation, Overview
Hydro-power generation is an important element in ensuring the reliability of Russia’s Energy System. Currently,
in Russia, there are 102 hydropower plants with a capacity of more than 100 MW. Russia has the sixth-largest
hydropower installed capacity in the world and is also the leading hydropower country in Europe with 53.2 GW of
installed capacity as of 2016.
According to the Energy Strategy of the country, there will be growth in electricity consumption in the whole of
Russia, with a view to accelerate natural resource development in Western and Eastern Siberia, the Far East, the
European North, and the Caspian Region. Under Russia’s Energy Strategy to 2030, the government intends to
increase the share of hydropower and nuclear in its energy mix and generate around half of the country’s
electricity using hydro and nuclear sources. According to Russian power development plan, 13 new domestic
hydroelectric power stations will be built in the country by 2030, which includes the 110 MW Goluboye Ozero
facility in the Kabardino-Balkar Republic of Russia.
One of the factors limiting the growth of the Russian hydropower sector is the technological obsolescence of
existing hydropower plants, which require a substantial amount of investment for renovation and modernization.
Some of Russia’s hydropower plants were commissioned before 1945, and the level of equipment wear-out in
these facilities is estimated at 50–60%. Renovation and modernization work at some hydropower complexes has
commenced, which should lower the level of wear-out to 40%.
Furthermore, Russia’s hydropower sector, especially large hydropower, is dominated by state-owned company
RusHydro. In 2009, RusHydro’s Sayano-Shushenskaya hydroelectric plant, one of the largest in the country,
caught fire, killing around 75 people. In February 2013, the company was involved in a major fund embezzlement
case that involved around RUB1 billion ($30m). Such incidents have diminished the enthusiasm of foreign
investors in the Russian hydropower sector. Privatization has been suggested, but due to the sector’s immense
potential, the government is unlikely to want to lose control over it.
191
13.2 Hydropower Market, Russian Federation, Installed Capacity, 2006–2025
1.7%.
Figure 72: Hydropower Market, Russian Federation, Installed Capacity (GW), 2006–2025
70 4.5
4.0
60
3.5
50
3.0
Growth (%)
40 2.5
30 2.0
1.5
20
1.0
10
0.5
0 0.0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
192
Table 87: Hydropower Market, Russian Federation, Installed Capacity (GW), 2006–2025
2006 0.2 46.1 –
2007 0.7 46.8 1.5
2008 0.3 47.1 0.6
2009 0.2 47.29 0.4
2010 0.1 47.39 0.2
2011 0.0 47.4 0.0
2012 1.8 49.2 3.9
2013 1.3 50.5 2.6
2014 1.1 51.6 2.1
2015 0.2 51.8 0.3
2016 1.4 53.2 2.7
2017 0.6 53.7 1.1
2018 0.3 54.0 0.6
2019 0.6 54.6 1.0
2020 1.2 55.8 2.2
2021 1.1 56.9 2.0
2022 1.6 58.5 2.8
2023 1.6 60.0 2.7
2024 0.7 60.8 1.2
2025 0.7 61.5 1.2
13.3 Hydropower Market, Russian Federation, Installed Capacity, By Type, 2006–2025
13.3.1 Hydropower Market, Russian Federation, Cumulative Installed Capacity, By Type, 2006–2025
The pumped storage installed capacity remained the same at 1.2 GW during 2006–2015. It is expected to
increase from 2.2 GW in 2017 to 3.8 GW in 2025, at a CAGR of 6.9%.
hydropower cumulative capacity is expected to increase from 0.8 GW in 2017 to 0.9 GW in 2025 at a CAGR of
1.3%.
193
The following figure and table illustrate the cumulative hydropower installed capacity by type in the country
during the period 2006–2025.
Figure 73: Hydropower Market, Russian Federation, Cumulative Installed Capacity (GW), By Type, 2006–
2025
70
60
50
40
30
20
10
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
194
Table 88: Hydropower Market, Russian Federation, Cumulative Installed Capacity (GW), By Type, 2006–
2025
2006 44.2 0.7 1.2
2007 44.9 0.7 1.2
2008 45.2 0.7 1.2
2009 45.2 0.8 1.2
2010 45.4 0.8 1.2
2011 45.4 0.8 1.2
2012 47.2 0.8 1.2
2013 48.5 0.8 1.2
2014 49.6 0.8 1.2
2015 49.8 0.8 1.2
2016 50.3 0.8 2.1
2017 50.7 0.8 2.2
2018 51.0 0.8 2.2
2019 51.6 0.8 2.2
2020 52.8 0.8 2.2
2021 53.9 0.8 2.2
2022 54.7 0.8 3.0
2023 55.4 0.8 3.8
2024 56.1 0.8 3.8
2025 56.9 0.9 3.8
195
13.3.2 Hydropower Market, Russian Federation, Annual Installed Capacity, By Type, 2006–2025
2025, the annual installed capacity is expected to increase from 0.43 GW to 0.70 GW.
Pumped storage witnessed no capacity additions in the historic period. The annual installed capacity for small
hydro is expected to reach 0.01 GW by 2025.
The following figure and table illustrate the cumulative hydro annual installed capacity in the country during the
period 2006–2025.
Figure 74: Hydropower Market, Russian Federation, Annual Installed Capacity (GW), 2006–2025
2.00
1.50
1.00
0.50
0.00
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014

-0.50
196
Table 89: Hydropower Market, Russian Federation, Annual Installed Capacity (GW), 2006–2025
2006 0.20 – –
2007 0.70 – –
2008 0.31 -0.01 –
2009 0.03 0.17 –
2010 0.19 -0.09 –
2011 – – –
2012 1.84 – –
2013 1.28 – –
2014 1.08 – –
2015 0.16 – –
2016 0.55 – 0.84
2017 0.43 0.01 0.14
2018 0.29 0.01 –
2019 0.54 0.01 –
2020 1.20 0.01 –
2021 1.10 0.01 –
2022 0.78 0.01 0.78
2023 0.78 0.01 0.78
2024 0.70 0.01 –
2025 0.70 0.01 –
197
13.4 Hydropower Market, Russian Federation, Hydropower Generation, 2006–2025
1.0%.
Figure 75: Hydropower Market, Russian Federation, Hydropower Generation (TWh), 2006–2025
195
190
185
Generation (TWh)
180
175
170
165
160
155
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
198
Table 90: Hydropower Market, Russian Federation, Hydropower Generation (TWh), 2006–2025
Year hydro generation (TWh)
2006 175.0
2007 179.0
2008 167.0
2009 176.0
2010 168.0
2011 168.5
2012 174.4
2013 175.7
2014 176.1
2015 175.7
2016 176.2
2017 175.9
2018 176.5
2019 177.5
2020 178.4
2021 178.8
2022 181.8
2023 184.7
2024 187.6
2025 190.0
199
13.4.1 Hydropower Market, Russian Federation, Hydropower Generation, By Type, 2006–2025
Figure 76: Hydropower Market, Russian Federation, Hydropower Generation (TWh), By Type, 2006–2025
195
190
185
180
175
170
165
160
155
150
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
200
Table 91: Hydropower Market, Russian Federation, Hydropower Generation (TWh), By Type, 2006–2025
2006 172.4 2.6
2007 176.2 2.7
2008 164.1 2.9
2009 172.6 3.4
2010 165.1 2.9
2011 165.6 2.9
2012 171.5 2.9
2013 172.7 2.9
2014 173.1 2.9
2015 172.8 3.0
2016 173.2 3.0
2017 172.9 3.0
2018 173.5 3.1
2019 174.4 3.1
2020 175.2 3.2
2021 175.6 3.2
2022 178.5 3.3
2023 181.4 3.4
2024 184.2 3.4
2025 186.6 3.5
201
13.5 Hydropower Market, Russian Federation, Market Size ($bn), 2006–2025
Market size of hydropower increased from $0.4 billion in 2006 to $2.6 billion in 2016. During 2017–2025, it is
expected to increase from $1.1 billion to $1.3 billion.
Figure 77: Hydropower Market, Russian Federation, Market Size ($bn), 2006–2025
4.0
3.5
3.0
2.5
Market size ($bn)
2.0
1.5
1.0
0.5
-
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
202
Table 92: Hydropower Market, Russian Federation, Market Size ($bn), 2006–2025
Year Market Size
2006 0.4
2007 1.3
2008 0.6
2009 0.4
2010 0.4
2011 0.01
2012 3.5
2013 2.4
2014 2.0
2015 0.3
2016 2.6
2017 1.1
2018 0.6
2019 1.0
2020 2.3
2021 2.1
2022 2.9
2023 2.9
2024 1.3
2025 1.3
203
13.6 Hydropower Market, Russia Federation, Tenders and Contracts, 2015–2016
The following table illustrates the tenders and contracts in the Russian Federation during 2015–2016 period.
Table 93: Hydropower Market, Russian Federation, Major Tenders and Contracts, 2015–2016
Announce Response End/
Description Segment Category Status Client Company Contract
ment Date Award Date
RusHydro And Voith Hydro Signed A Repair,
Memorandum Of Modernization Of Generation Maintenance,
Jun 16, 2016 Signed RusHydro 2016
Hydro Turbines At The Saratovskaya Equipment Upgrade &
Hydro Power Plant In Russia Others
Tyazhmash To Supply Fundamental And
Auxiliary Equipment For Verkhne-
Tulomskaya Hydroelectric Power Station Generation Supply &
May 17, 2016 Signed TER, s.r.o. 12-May-2016
Refurbishment Project In Equipment Erection
Verchnetulomsk, Murmansk Province,
Russia
Power Machines To Supply Two Runners Repair,
For Radial-Axial Hydraulic Units OF Generation Maintenance, EuroSibEnergo
Feb 20, 2016 Signed 2016
Krasnoyarsk Hydro Power Plant In Equipment Upgrade & PLC
Russia Others
Power Machines Toshiba High-Voltage
Transformers To Supply Transformers T&D Supply &
Dec 16, 2015 Signed – 2015
For Krasnoyarsk Hydro Power Plant In Equipment Erection
Russia
Federal Grid Company Of Unified Energy
Federal Grid
System Invites Tenders For Consulting &
Company of
Oct 30, 2015 Development Of Project Documentation T&D Project Similar Closed Dec 07,2015
Unified Energy
For 220kV Substation At Ust-Ilimskaya Services
System
Hydro Project
Power Machines-Led Consortium To
T&D Supply &
Aug 11, 2015 Supply Transformers For Volzhskaya Signed – 2015
Equipment Erection
Hydro Power Plant In Russia
ABS Electro Holding To Supply
T&D Supply &
Jun 04, 2015 Equipment For Ust-Srednekanskaya Signed – 2015
Equipment Erection
Hydro Power Plant In Russia
Power Machines To Replace Ten
Generation Supply &
Feb 20, 2015 Hydropower Units At Votkinskaya Hydro Signed RusHydro 2015
Equipment Erection
Power Plant In Russia
204
13.7 Hydropower Market, Russian Federation, Major Active Plants, 2015–2016
The following table illustrates the major active plants in Russian Federation during 2015–2016 period.
Table 94: Hydropower Market, Russia Federation, Major Active Plants, 2015–2016
Plants River /Basin Capacity (MW) Owner Year Online
Zelenchuk-2 Kuban 140 RusHydro 2016
Gotsatlinskaya Avarskoye Koysu 100 RusHydro 2015
Zaragizhskaya Cherek 30.6 RusHydro 2016
13.8 Hydropower Market, Russian Federation, Major Upcoming Plants, 2017–2020
The following table illustrates the major upcoming plants in Russian Federation during 2017–2020 period.
Table 95: Hydropower Market, Russian Federation, Major Upcoming Plants, 2017–2020
Capacity Year
Plants River /Basin Owner Status
(MW) Online
Under
Mok Vitim 1410 RusHydro 2017
Construction
Kankunskaya Timpton 1200 RusHydro Permitting 2020
Motygin Angara 1100 RusHydro Announced –
Nizhne-Nimanskaya Hydro China Three Gorges Corporation; Under
Amur 600 –
power plant RusHydro Construction
China Three Gorges Corporation; Under
Giluyskaya Hydro power plant Amur 462 –
RusHydro Construction
China Three Gorges Corporation;
Nizhne-Zeiskaya Zeya 400 Permitting 2019
RusHydro
Under
Nizhne-Bureiskaya Bureiya 320 RusHydro 2017
Construction
Selemdzhinskaya Hydropower China Three Gorges Corporation;
Amur 300 Announced –
Plant RusHydro
Andiyskoe
Agvalin 200 RusHydro Announced –
Koisu
Under
Nizhne-Kureyskaya Kureyka 150 RusHydro 2018
Construction
205
13.9 Hydropower Market, Russian Federation, Investment Trends, 2016
13.9.1 Hydropower Market, Russian Federation, Deal Volume vs. Deal Value, 2006–2016
Figure 78: Hydropower Market, Russian Federation, Deal Volume vs. Deal Value ($m), 2006–2016
12,000 18
16
10,000
14
8,000 12
Number of deals
Deal value ($m)
10
6,000
8
4,000 6
4
2,000
2
0 0
2006
2009
2016
2013
2015
2012
2008
2011
2007
2010
2014

206
Table 96:Hydropower Market, Russian Federation, Deal Volume vs. Deal Value ($m), 2006–2016
2006 373.1 3
2007 3,525.5 7
2008 3,799.7 6
2009 2,677.1 3
2010 4,594.1 10
2011 2,662.8 12
2012 1,919.3 2
2013 10,723.4 16
2014 1,740.2 5
2015 510.5 4
2016 285.4 5
13.9.2 Hydropower Market, Russian Federation, Split, by Deal Type, 2016
The hydropower market recorded a total number of 5 deals during 2016, of which most were acquisition followed
by asset transactions and debt offerings.
Figure 79: Hydropower Market, Russian Federation, Split, by Deal Type (%), 2016
Debt offerings,
20
Asset transactions, Acquisition,

20 60
207
Table 97:Hydropower Market, Russian Federation, Deals by Type, 2016

Deal type Number
Acquisition 3
Debt offerings 1
13.10 Hydropower Market, Russian Federation, Major Policies
13.10.1 Decree No. 449 on the Mechanism for the Promotion of Renewable Energy on the Wholesale
Electricity and Market
Decree No. 449 established a mechanism to support renewable electricity deployment through capacity
markets. Under this, the selected renewable power projects receive capacity payments for a period of 15 years,
to generate electricity on demand. In the case when power plants will not be able to meet previously agreed
availability requirements, their capacity remuneration levels will be reduced accordingly.
Auctions are being held on an annual basis to award these capacity remuneration contracts. For now, only wind,
solar PV, and small hydropower plants are eligible to participate and biomass is excluded from the support. In
order to be eligible to participate in the auctions, proposed projects must be equal to or exceed 5 MW;
hydropower plants cannot be larger than 25 MW. Contracts are awarded to projects with the lowest capital costs.
Eligible proposals also have to comply with high local content requirements, as shown in the following table.
Table 98: Minimum Local Content Requirement (%), Russia, 2014–2020

Technology Year Local content requirement (%)
2014 35
Wind farms over 5 MW 2015 55
2016–2020 65
2014–2015 50
Solar PV over 5 MW
2016–2020 70
2014–2015 20
Small hydro over 5 MW 2016–2017 45
2018–2020 65
Source: IEA, 2015
Projects selected through the auction system are to sign Agreements for the Supply of Capacity, where the
price level of Renewable Energy Sources (RES) capacity and the duration of capacity supply are specified. As
mentioned above, the price for the RES capacity can be lowered in cases when the plant is unable to provide the
208
agreed power capacity. Decree No. 449 and Art. 32 of the Federal Electricity Law guarantee priority purchase for
renewable power.
In order to control the increase of newly added renewable generation capacities, and thus the mechanism’s
impact on electricity prices and the costs of the mechanism, Resolution No. 861 of May 2013 was implemented.
Table 99: Annual Limits on Renewable Capacity Addition (MW), Russia, 2014–2020
Technology 2014 2015 2016 2017 2018 2019 2020
Wind 100 250 250 500 750 750 1000
Solar 120 140 200 250 270 270 270
Small hydro 18 26 124 124 141 159 159
Total 238 416 574 874 1161 1179 1429
Source: IEA, 2015
The first auctions were held in September 2013, and the second round took place in June 2014.
Table 100: Renewable Energy Capacity Tenders, Russia

Tender Results Renewable Capacity open for Awarded Deadline by which projects
Year held
round announced technology bidders (MW) capacity (MW) must be commissioned
Total - 504.0
September
First October 2013 Solar PV 700 339.0 End of 2017
2013
Wind 1,100 110.0
Total - 576.6
Solar PV - 505.0
Second May 2014 June 2014 End of 2018
Wind 1,160 51.0
Small hydro 415 20.6
Source: IEA, 2015
13.10.2 Russia Renewable Energy Program
In December 2010, the Global Environment Facility (GEF) and the International Finance Corporation (IFC)
launched the Russia Renewable Energy Program (RREP). The program aimed to develop energy policies in co-
operation with the Russian Energy Agency, RusHydro, and other key players. The program promotes a
sustainable market for RE in the country by supporting the development of enabling policies, institutional
capacity, the introduction of financial mechanisms, and increased access to finance.
13.10.3 Federal Program for Energy Savings and Energy Efficiency
This program allocated RUB9.5 trillion ($0.14 trillion) to regional energy savings programs, with an aim of
reducing the energy intensity of Russia’s gross domestic product by 13.5% by 2020, while also establishing
government guarantees for certain projects.
209
13.10.4 Energy Strategy of Russia to 2030
The objective of the energy strategy of Russia is to maximize the effective use of natural energy resources and
the potential of the energy sector in order to sustain economic growth, improve quality of life, and strengthen
Russia's foreign economic positions. The strategy determines the objectives and goals of the Russian energy
sector's long-term development, its priorities and guidelines, as well as mechanisms of the state energy policy to
ensure the realization of stated objectives. It includes state energy policy requirements and guidelines, support
for R&D, and strategic development assistance. The strategy sets a 56% energy intensity reduction target for
2030, compared with 2005. It will be accomplished in three stages: the first is a major overhaul of the energy
sector; the second emphasizes efficiency gains through new technology within the fuel and energy sectors; and
the third stresses economy-wide energy efficiency.
13.10.5 State Policy Guidelines for Promoting Renewable Energy in the Power Sector
On January 8, 2009 the Russian government approved the State Policy Guidelines for improving the energy
efficiency of the power industry through the use of RE for the period up to 2020. The guidelines established a
target of 4.5% as the share of electricity generation from RE sources up to 2020, excluding large hydro (over 25
MW). At the time the policy passed, less than 1% of total electricity generation came from RE sources, excluding
large hydro. The targets will be differentiated by energy source, and will eventually introduce additional target
parameters such as installed capacity or electricity generated.
13.10.6 National Climate Doctrine
The Russian government had approved the action plan for the implementation of the National Climate Doctrine
for the period until 2020. The Climate Action Plan takes into account climate risks, challenges for GHG emission
reduction, and adaptation.
The Russian Federation had implemented measures in order to mitigate GHG emissions, and aims to increase
energy efficiency in all sectors. The country’s climate plan target is to develop and deploy renewable and
alternative energy sources and enhance the capacity of carbon sinks, including sustainable forestry, forestation,
and re-forestation.
210
13.10.7 Premium and Certificates Scheme
The Russian authorities provided financial support to the RE sector in the form of premiums and certificates to
the operators of RE installations. The authorities have floated a scheme for the compensation of the network
connection costs for renewable energy installations not exceeding 25 MW. Additionally, the FGC will cover any
transmission and distribution losses with purchases, at regulated prices, of electricity produced from RE sources.
13.10.8 Funding for Hydropower
In September 2006, the European Bank for Reconstruction and Development provided a long-term loan of €185
million ($200 million) to finance the modernization of nine hydropower stations on the Volga-Kama cascade. As
of 2006, hydro generation was the main source of RE in Russia, accounting for 20% of all power produced.
211
14 Hydropower Market, Asia-Pacific
14.1 Hydropower Market, Asia-Pacific, Overview
Asia-Pacific region installed the most renewable hydropower capacity in 2016. The region has the fastest
growing energy demand to cater for the majority of the population. Developing the hydropower has become a
main concern for most governments as they aim to increase the power supply, and decrease carbon emission,
and achieve the higher electrification rate in the remote areas.
The region’s leading position was attributed to China which was the global leader in terms of capacity additions.
China's FYP is also important in driving the clean energy programs which include hydro as well as wind and
other technologies. With increasing concern over the need to reduce GHG emissions and protect the
environment, renewable resources are expected to witness the highest growth among power-generating
resources. The government has been taking various measures to promote the renewable energy industry, with
its accelerated development being promoted by a combination of government encouragement and market
guidance, supported by the financial and regulatory initiatives that have been introduced to promote renewable
energy sources.
Asia-Pacific region has the most significant hydropower potential in the world. The growth of hydropower in
Southeast Asia is quite considerable, and is being recognized as an important factor for the economic
development. Countries like Bhutan, Myanmar, and Nepal, plus the North East of India have large hydropower
potential, although the utilized hydropower in this region is quite low as of now. The demand for clean and
affordable electricity is expected to be the major factor for the hydropower growth in Southeast Asia. Nepal and
Bhutan are expected to boost the hydropower development with an aim to export electricity to India. Presently
Bhutan already exports a large amount of power to India which contributes a considerable portion to the
economic growth of the country.
During 2017–2025 the cumulative hydropower capacity of the region is expected to increase from 553.6 GW to
851.0 GW by 2025 and the market size is expected to increase from $29.4 billion in 2017 to $38.7 billion by 2025.
212
14.2 Hydropower Market, Asia-Pacific, Installed Capacity, 2006–2025
The hydropower installed capacity in Asia-Pacific increased from 273.3 GW in 2006 to 524.8 GW in 2016. During
of 5.5%.
During 2017–2025, the net capacity additions are expected to increase from 28.8 GW to 38.9 GW. An average of
36.2 GW of annual additions is expected to take place during the same period.
The figure below illustrates Asia-Pacific cumulative hydropower installed capacity during 2006–2025 period.
Figure 80: Hydropower Market, Asia-Pacific, Installed Capacity (GW), 2006–2025
900 12
800
10
700
600 8
Growth (%)
500
6
400
300 4
200
2
100
0 0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
213
Table 101: Hydropower Market, Asia-Pacific, Installed Capacity (GW), 2006–2025

2006 18.3 273.3 –
2007 22.2 295.5 8.1
2008 28.6 324.1 9.7
2009 29.5 353.6 9.1
2010 27.8 381.4 7.9
2011 25.3 406.8 6.6
2012 24.8 431.6 6.1
2013 17.5 449.1 4.1
2014 25.4 474.5 5.7
2015 23.0 497.5 4.8
2016 27.3 524.8 5.5
2017 28.8 553.6 5.5
2018 32.3 585.9 5.8
2019 35.4 621.3 6.0
2020 36.6 658.0 5.9
2021 36.1 694.1 5.5
2022 37.2 731.2 5.4
2023 39.1 770.3 5.3
2024 41.8 812.1 5.4
2025 38.9 851.0 4.8
14.3 Hydropower Market, Asia-Pacific, Installed Capacity, By Type, 2006–2025
14.3.1 Hydropower Market, Asia-Pacific, Cumulative Installed Capacity, By Type, 2006–2025
is expected to increase from 75.4 GW in 2017 to 162.8 GW in 2025.
214
Figure 81: Hydropower Market, Asia-Pacific, Cumulative Installed Capacity (GW), By Type, 2006–2025
900
800
700
600
500
400
300
200
100
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
215
Table 102: Hydropower Market, Asia-Pacific, Cumulative Installed Capacity (GW), By Type, 2006–2025
2006 181.0 49.8 42.6
2007 194.7 54.3 46.5
2008 217.6 58.5 48.0
2009 239.4 62.7 51.5
2010 259.6 67.2 54.7
2011 278.3 70.6 57.8
2012 296.2 75.2 60.2
2013 304.3 81.7 63.1
2014 326.7 84.3 63.5
2015 346.0 86.8 64.7
2016 365.7 89.6 69.5
2017 385.8 92.4 75.4
2018 407.6 95.4 83.0
2019 430.1 98.4 92.8
2020 452.2 101.6 104.2
2021 475.6 104.8 113.6
2022 498.6 108.1 124.5
2023 522.6 111.5 136.2
2024 546.8 114.9 150.3
2025 569.7 118.4 162.8
14.3.2 Hydropower Market, Asia-Pacific, Annual Installed Capacity, By Type, 2006–2025
2025, the annual installed capacity is expected to increase from 20.1 GW to 22.9 GW at a CAGR of 1.6%.
The annual installed capacity for pumped storage increased from 2.4 GW in 2006 to 4.8 GW in 2016. During 2017–
2025, the annual installed capacity is expected to increase from 5.9 GW to 12.5 GW at a CAGR of 9.9%.
Small hydro annual installed capacity decreased from 4.8 GW in 2006 to 2.8 GW in 2016. It is expected to
216
The figure and table below illustrate the annual installed capacity during 2006–2025 period.
Figure 82: Hydropower Market, Asia-Pacific, Annual Installed Capacity (GW), By Type, 2006–2025
45
40
35
30
25
20
15
10
0
2023
2025
2008
2011
2007
2022
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
217
Table 103: Hydropower Market, Asia-Pacific, Annual Installed Capacity (GW), By Type, 2006–2025
2006 11.1 4.8 2.4
2007 13.7 4.4 4.0
2008 22.9 4.2 1.5
2009 21.8 4.3 3.5
2010 20.2 4.5 3.1
2011 18.8 3.4 3.1
2012 17.8 4.5 2.4
2013 8.1 6.5 2.9
2014 22.5 2.6 0.4
2015 19.2 2.6 1.2
2016 19.7 2.8 4.8
2017 20.1 2.8 5.9
2018 21.8 2.9 7.6
2019 22.5 3.0 9.8
2020 22.1 3.1 11.4
2021 23.4 3.2 9.5
2022 23.0 3.3 10.9
2023 24.0 3.4 11.7
2024 24.2 3.4 14.1
2025 22.9 3.5 12.5
218
14.4 Hydropower Market, Asia-Pacific, Generation, 2006–2025
Net generation for hydropower in the Asia-Pacific increased from 761.4 TWh in 2006 to 1,371.4 TWh in 2016. It is
expected that generation from hydro will increase from 1,585.5 TWh in 2017 to 2,760.6 TWh in 2025, at a CAGR of
7.2%.
The following figure and table illustrate the hydropower generation in Asia-Pacific during 2006–2025 period.
Figure 83: Hydropower Market, Asia-Pacific, Hydropower Generation (TWh), 2006–2025

3,000
2,500
2,000
Generation (TWh)
1,500
1,000
500
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2007
2022
2010
2018
2017
2014
219
Table 104: Hydropower Market, Asia-Pacific, Hydropower Generation (TWh), 2006–2025

2006 761.4
2007 821.1
2008 892.7
2009 835.1
2010 1,036.2
2011 1,060.9
2012 1,097.8
2013 1,170.6
2014 1,279.7
2015 1,321.3
2016 1,371.4
2017 1,585.5
2018 1,683.5
2019 1,779.1
2020 1,895.6
2021 2,127.3
2022 2,260.0
2023 2,446.4
2024 2,577.7
2025 2,760.6
220
14.4.1 Hydropower Market, Asia-Pacific, Generation, By Type, 2006–2025
Generation from large hydropower and pumped storage increased from 597.1 TWh in 2006, to 1,066.8 TWh in
2016. During 2017–2025, it is expected to increase from 1,264.5 TWh to 2,270.8 TWh at a CAGR of 7.6%.
The generation through small hydro increased from 164.2 TWh in 2006 to 304.6 TWh in 2016. During 2017–2025,
it is expected to increase from 321.1 TWh to 489.8 TWh at a CAGR of 5.4%.
The following figure and table illustrate the hydropower generation in Asia-Pacific during 2006–2025 period.
Figure 84: Hydropower Market, Asia-Pacific, Hydropower Generation, By Type (TWh), 2006–2025
3000
2500
2000
Generation by type
1500
1000
500
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024

221
Table 105: Hydropower Market, Asia-Pacific, Hydropower Generation (TWh), By Type, 2006–2025
2006 597.1 164.2
2007 647.8 173.4
2008 698.8 193.9
2009 645.6 189.5
2010 798.1 238.1
2011 847.6 213.3
2012 841.1 256.6
2013 906.0 264.6
2014 1008.2 271.5
2015 1039.7 281.7
2016 1066.8 304.6
2017 1264.5 321.1
2018 1345.0 338.5
2019 1422.1 356.9
2020 1519.1 376.4
2021 1730.3 397.0
2022 1841.4 418.6
2023 2005.2 441.3
2024 2112.7 465.0
2025 2270.8 489.8
222
14.5 Hydropower Market, Asia-Pacific, Market Size ($bn), 2006–2025
The hydropower market size in Asia-Pacific region was $21.2 billion in 2006 and it increased to $28.5 billion in
2016. During 2017-2025, the market size is estimated to increase from $29.4 billion to $38.7 billion at a CAGR of
3.5%.
The following figure and table illustrate the hydropower market size in Asia-Pacific region during 2006–2025
period.
Figure 85: Hydropower Market, Asia-Pacific, Market Size ($bn), 2006–2025

50
45
40
35
30
Market size ($bn)
25
20
15
10
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2007
2022
2010
2018
2017
2014
223
Table 106: Hydropower Market, Asia-Pacific, Market Size ($bn), 2006–2025

Year Market Size
2006 21.2
2007 25.1
2008 30.7
2009 31.0
2010 30.2
2011 28.1
2012 27.0
2013 19.5
2014 26.0
2015 23.8
2016 28.5
2017 29.4
2018 33.3
2019 36.5
2020 37.3
2021 36.2
2022 36.7
2023 38.7
2024 43.9
2025 38.7
224
15 Hydropower Market, China
15.1 Hydropower Market, China, Overview
China with around 50% of total capacity additions was the global leader in terms of capacity additions; with this
share the country reached 341 GW cumulative installations mark as of 2016. Chinese hydroelectricity generation
accounts for 16.8% of the total power generation. China added more new installed hydropower capacity than the
rest of the world, strengthening the country’s role in the global hydropower development. In 2006–2016 period
the country’s average installations share accounted for 60%, and it is the country with the fastest-growing
industrial economies. Further burgeoning energy demand with this rapid industrialization has driven the country
to increase the share of renewable energy in the energy mix and reduce its GHG emissions.
China has nearly half of the world’s largest dams, including the largest one, the Three Gorges dam, which is the
world’s biggest hydroelectric station. In addition China plans to add considerable hydropower amount by building
new large hydroelectric dams, especially in Southwest China because rivers located in this area are ideal to
harvest hydropower since many of these rivers are 2000 m above sea level and rich with water.
China has been taking various measures to promote the renewable energy industry in the country. The
accelerated development of China’s renewable energy industry is being promoted by a combination of
government encouragement and market guidance. In its INDC to the UNFCCC China had two new goals for
2030; reducing CO 2 emissions per unit of GDP by 60–65% below 2005 levels, and increasing its forest carbon
stock volume by around 4.5 billion m3 from 2005 levels. The new carbon intensity target builds on China’s
existing target to reduce intensity 40–45% by 2020. In order to achieve these goals, China is quickly exploring
the low-carbon generation technologies, including nuclear, wind, and solar power. The flexible characteristics of
hydropower, including pumped storage, facilitate the increased grid penetration of wind and solar.
Most of the hydropower plants of China are located in the provinces of Liaoning, Jilin, Zhejiang, Fujian, Jiangxi,
Hube, Hunan, Guangdong, Guangxi, Chongqing, Sichuan, Yunnan, Guizhou, Shanxi, Gansu, and Qinghai. In these
provinces the installed capacity of each plant is greater than 1000 MW. Many of the new dams are expected to
be concentrated along the relatively undeveloped Lancang, Yalong, and Jinsha rivers in Yunnan and Sichuan
provinces, in which rare species thrive in steep mountain valleys. The Lancang is the upper half of the Mekong,
where dam-building both inside China and in Laos and Cambodia is changing the normal flood patterns that
ensure the fertility of the Mekong Delta.
China’s plan to generate 20% of its power from non-fossil sources by 2030 implies a huge expansion in
hydropower dams, nuclear power plants, and subsidized wind and solar farms. Installed hydropower capacity is
set to rise to 442 GW by 2020, the end of the next FYP, compared with 341 GW as of 2016. China is pursuing
large-scale projects including the 10.2 GW Wudongde plant, which is targeted to be completed by 2020, as well
as smaller projects in more remote regions, such as Tibet. At the same time, however, some potential projects
225
have not advanced because Chinese authorities have refused construction permits for some untapped
resources on ecological grounds.
15.2 Hydropower Market, China, Installed Capacity, 2006–2025
of 6.2%.
During 2017–2025, the net capacity additions are expected to increase from 23.1 GW to 30.4 GW at a CAGR of
3.5%. It is expected that an average of 27.4 GW of annual additions are to take place during the same period.
Figure 86: Hydropower Market, China, Installed Capacity (GW), 2006–2025
700 18
16
600
14
500
12
400
Growth (%)
10
300 8
6
200
4
100
2
0 0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
226
Table 107: Hydropower Market, China, Installed Capacity (GW), 2006–2025

2006 13.5 136.5 –
2007 20.7 157.2 15.2
2008 25.6 182.8 16.3
2009 27.2 210.0 14.9
2010 23.0 233.0 11.0
2011 18.4 251.3 7.9
2012 18.1 269.4 7.2
2013 10.3 279.8 3.8
2014 22.1 301.8 7.9
2015 17.5 319.4 5.8
2016 21.5 340.9 6.7
2017 23.1 364.0 6.8
2018 24.6 388.6 6.8
2019 26.1 414.7 6.7
2020 27.3 442.0 6.6
2021 27.6 469.6 6.2
2022 28.5 498.0 6.1
2023 29.2 527.2 5.9
2024 29.8 557.1 5.7
2025 30.4 587.5 5.5
15.3 Hydropower Market, China, Installed Capacity, By Type, 2006–2025
15.3.1 Hydropower Market, China, Cumulative Installed Capacity, By Type, 2006–2025
period 2006–2025.
227
Figure 87: Hydropower Market, China, Cumulative Installed Capacity (GW), By Type, 2006–2025
700
600
500
400
300
200
100
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
228
Table 108: Hydropower Market, China, Cumulative Installed Capacity (GW), By Type, 2006–2025
2006 87.1 43.2 6.2
2007 100.8 47.4 8.9
2008 121.3 51.3 10.2
2009 141.2 55.1 13.7
2010 156.8 59.2 16.9
2011 170.9 62.1 18.4
2012 183.4 65.7 20.3
2013 187.1 71.2 21.5
2014 206.8 73.2 21.8
2015 221.1 75.2 23.0
2016 236.1 77.2 27.6
2017 251.2 79.3 33.5
2018 266.5 81.5 40.6
2019 282.1 83.7 48.9
2020 297.8 86.0 58.2
2021 313.7 88.4 67.5
2022 329.8 90.8 77.4
2023 346.1 93.3 87.8
2024 362.6 95.9 98.5
2025 379.3 98.6 109.6
15.3.2 Hydropower Market, China, Annual Installed Capacity, By Type, 2006–2025
Large hydro annual capacity additions increased from 8.3 GW in 2006 to 15.0 GW in 2016 at a CAGR of 6.1%.
During 2017–2025, it is expected to increase from 15.1 GW to 16.7 GW at a CAGR of 1.2%
In pumped storage segment, 0.6 GW of the annual capacity additions were witnessed in 2006. The 4.6 GW of the
capacity additions were recorded in 2016. The new capacity additions in the segment are expected to increase
from 5.9 GW in 2017 to 11.1 GW in 2025.
Small hydro annual installed capacity decreased from 4.7 GW in 2006 to 2.0 GW in 2016. It is expected to increase
from 2.1 GW in 2017 to 2.7 GW in 2025 at a CAGR of 3.1%.
229
Figure 88: Hydropower Market, China, Annual Installed Capacity (GW), By Type, 2006–2025
35
30
25
20
15
10
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
230
Table 109: Hydropower Market, China, Annual Installed Capacity (GW), By Type, 2006–2025
2006 8.3 4.7 0.6
2007 13.7 4.2 2.7
2008 20.5 3.9 1.3
2009 19.8 3.8 3.5
2010 15.7 4.1 3.2
2011 14.0 2.9 1.4
2012 12.6 3.6 2.0
2013 3.6 5.5 1.2
2014 19.8 2.0 0.3
2015 14.3 2.0 1.2
2016 15.0 2.0 4.6
2017 15.1 2.1 5.9
2018 15.3 2.2 7.1
2019 15.5 2.2 8.3
2020 15.7 2.3 9.3
2021 15.9 2.4 9.3
2022 16.1 2.4 9.9
2023 16.3 2.5 10.4
2024 16.5 2.6 10.8
2025 16.7 2.7 11.1
231
15.4 Hydropower Market, China, Generation, 2006–2025
expected that generation from hydro will increase from 1,101.2 TWh in 2017 to 2,053.1 TWh in 2025, at a CAGR of
8.1%.
The following figure and table illustrate the hydropower generation in China during 2006–2025 period.
Figure 89: Hydropower Market, China, Hydropower Generation (TWh), 2006–2025

2,500
2,000
Generation (TWh)
1,500
1,000
500
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
232
Table 110: Hydropower Market, China, Hydropower Generation (TWh), 2006–2025

2006 413.1
2007 482.9
2008 556.4
2009 499.8
2010 673.5
2011 654.9
2012 707.0
2013 733.9
2014 839.3
2015 882.1
2016 904.8
2017 1,101.2
2018 1,175.8
2019 1,240.2
2020 1,331.7
2021 1,537.4
2022 1,643.1
2023 1,798.5
2024 1,899.3
2025 2,053.1
233
15.4.1 Hydropower Market, China, Generation, By Type, 2006–2025
Generation from large hydropower and pumped storage increased from 277.1 TWh in 2006, to 647.7 TWh in 2016.
During 2017–2025, it is expected to increase from 830.2 TWh to 1,636.8 TWh at a CAGR of 8.9%.
The generation through small hydro increased from 136 TWh in 2006 to 257.1 TWh in 2016. During 2017–2025, it
is expected to increase from 271.1 TWh to 416.3 TWh at a CAGR of 5.5%.
The following figure and table illustrate the hydropower generation in China during 2006–2025 period.
Figure 90: Hydropower Market, China, Hydropower Generation (TWh), By Type, 2006–2025
2,500
2,000
1,500
1,000
500
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
234
Table 111: Hydropower Market, China, Hydropower Generation (TWh), By Type, 2006–2025
2006 277.1 136.0
2007 338.9 144.0
2008 393.4 163.0
2009 342.8 157.0
2010 469.5 204.0
2011 478.9 176.0
2012 489.7 217.3
2013 510.6 223.3
2014 611.2 228.1
2015 644.9 237.2
2016 647.7 257.1
2017 830.2 271.1
2018 889.9 285.9
2019 938.6 301.6
2020 1013.5 318.1
2021 1201.8 335.7
2022 1288.9 354.2
2023 1424.8 373.8
2024 1504.9 394.4
2025 1636.8 416.3
235
15.5 Hydropower Market, China, Market Size ($bn), 2006–2025
2017–2025, it is expected to increase from $22.4 billion to $28.3 billion at a CAGR of 3.0% during the same
period.
The following figure and table illustrate the hydropower market in China during 2006–2025 period.
Figure 91: Hydropower Market, China, Market Size ($bn), 2006–2025

30
25
20
Market size ($bn)
15
10
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
236
Table 112: Hydropower Market, China, Market Size ($bn), 2006–2025

Year Market Size
2006 14.4
2007 21.9
2008 26.9
2009 28.3
2010 23.7
2011 18.8
2012 18.4
2013 10.4
2014 22.0
2015 17.3
2016 21.1
2017 22.4
2018 23.7
2019 24.9
2020 25.8
2021 26.0
2022 26.7
2023 27.3
2024 27.9
2025 28.3
237
15.6 Hydropower Market, China, Tenders and Contracts, 2015–2016
The following table illustrates the tenders and contracts in China during 2015–2016 period.
Table 113: Hydropower Market, China, Major Tenders and Contracts,2015–2016

Response End/
Announcement
Description Segment Category Status Client Company Contract Award
Date
Date
Toshiba Hydro Power To
Supply Five 55.6 MW Bulb
Generation Supply & Sichuan Minjiang Port & Shipping &
Nov 04, 2016 Turbines For 278 MW Qian Signed 2016
Equipment Erection Electric Power Development Co. Ltd.
Wei Hydroelectric Plant In
Leshan, China
ABB To Provide
Advanced Power
Equipment For 800kV
T&D Supply &
Nov 02, 2016 Dianxibei-Guangdong Signed China Southern Power Grid Co., Ltd. 2016
Equipment Erection
Ultra-High-Voltage Direct
Current Transmission Link
In China
General Electric (GE) To
Upgrade Hydro
Generation Supply & Yalong River Hydropower
Apr 12, 2016 Mechanical Equipment Signed 2016
Equipment Erection Development Co, Ltd.
For Ertan Hydropower
Plant In China
Voith To Supply Six
Hydroelectric Turbine
Generator Units And Generation Supply &
Mar 21, 2016 Signed China Three Gorges Corporation 2016
Auxiliary Parts For Equipment Erection
Wudongde Hydropower
Station In China
General Electric To
Supply Six 850 MW
Francis Turbine Generation Supply &
Dec 28, 2015 Signed China Three Gorges Corporation 2015
Generators For 10.2 GW Equipment Erection
Wudongde Hydropower
Project In China
Dongfang Electric To
Supply Eight Sets Of
Hydropower Generator Generation Supply &
Oct 28, 2015 Signed 2015
And Other Equipment For Equipment Erection
Baihe Beach Hydropower
Station In China
AZZ To Supply Two
Circuits Of 550kV 3150A
Gas Insulated Line For T&D Supply & Yunnan Huaneng Lancang River
Oct 15, 2015 Signed 2015
The Huangdeng Hydro Equipment Erection Hydropower Co. Ltd.
Power Plant In Yunnan,
China
Emerson Process
Management To Supply Sichuan Tuopai Power Development
Automation System For Generation Supply & Co. Ltd
Aug 19, 2015 Signed 2015
48 MW Shehong Liushu Equipment Erection
Hydroelectric Plant In
China
238
15.7 Hydropower Market, China, Major Active Plants, 2015–2016
The following table illustrates the major active hydropower plants in China during 2015–2016 period.
Table 114: Hydropower Market, China, Major Active Plants, 2015–2016

Capacity Year
(MW) Online
Dagangshan Dadu 2600 China Guodian Dadu River Hydropower Development Co., Ltd. 2015
Xianju – – – 2016
Xianju – – – 2016
Qingyuan – 1280 CSG Power Generation Company 2015
Qingyuan Qinhuang 1280 CSG Power Generation Company 2015
Qingyuan – – – 2016
Qingyuan Qinhuang – – 2016
Huangjinping – – – 2015
Huangjinping Dadu – – 2015
Angu Hydro Power
Dadu 772 – 2015
Plant
Zhentouba I – – – 2015
Zhentouba I Dadu – – 2015
SDIC Electric Power Co.; Sichuan Chuantou Energy Company
Tongzilin Yalong 600 2015
Limited
CPI Guizhou Jinyuan Group Co., Ltd. ; Guangdong Yudean Group
Co., Ltd.; Guizhou Qianyuan Power Co., Ltd.; Hydrochina Guiyang
Engineering Corporation ; Liupanshui Jiangyuan Power Company
Mamaya Beipan 558 2015
Limited
; Qianxinan Prefecture Industrial Investment Limited Liability
Company
Zangmu – – – 2015
Zangmu Yarlung Tsampo/ – – 2015

Yarlung Zangbo
Ganlanba Lancang 155 Huaneng Lancang River Hydropower Co., Ltd. 2015
Sanchahe HPP – – – 2015
Sanchahe HPP – – – 2015
Hubei Enshi
Huaneng Power International, Inc.; Maweigou Valley Hydropower
Qinglonghu Maweigou 40 2015
Development Co., Ltd.
Hydropower Station
Fushi Phase II Rong 18 CGN New Energy Holdings Co., Ltd. 2015
Bodui – – – 2015
Bodui Bodezangbu – – 2015
Boluo – 8 State Power Investment Corporation 2015
239
15.8 Hydropower Market, China, Major Upcoming Plants, 2017–2022
The following table illustrates the major upcoming hydropower plants during 2017–2022 period.
Table 115: Hydropower Market, China, Major Upcoming Plants, 2017–2022

Capacity Year
(MW) Online
Under
Baihetan Jinsha 16000 China Three Gorges Corporation 2018
Construction
Under
Wudongde Jinsha 10200 China Three Gorges Corporation 2018
Construction
China Suntien Green Energy Co., Ltd.; State Grid Xin Under
Fengning – 3600 2019
Yuan Co., Ltd. Construction
Under
Lianghekou Yalong 3000 Yalong River Hydropower Development Company, Ltd. 2021
Construction
Sichuan Under
Yalong 3000 Yalong River Hydropower Development Company, Ltd. 2021
(yalong) Construction
China Datang Corporation; Datang International Power Under
Changheba Min/Daduhe 2600 2017
Generation Company Limited Construction
Guxue Lancang 2400 Huaneng Lancang River Hydropower Co., Ltd. Permitting –
Under
Yangjiang – 2400 China Southern Power Grid Co., Ltd. 2022
Construction
Under
Hongping – 2400 State Grid Corporation of China –
Construction
240
15.9 Hydropower Market, China, Investment Trends, 2016
15.9.1 Hydropower Market, China, Deal Volume vs. Deal Value, 2006–2016
Deals in hydropower sector were approximately 25, at a total value of $26,387.3m in 2016. The number increased
from 12 in 2010 to 25 in 2016, and the total deal value increased from $1,683.5m in 2010 to $26,387.3m in 2016.
Figure 92: Hydropower Market, China, Deal Volume vs. Deal Value ($m), 2006–2016
30,000 300
25,000 250
20,000 200
Number of deals
Deal value ($m)
15,000 150
10,000 100
5,000 50
0 0
2008
2011
2007
2006
2010
2009
2014
2016
2013
2015
2012

241
Table 116:Hydropower Market, China, Deal Volume vs. Deal Value ($m), 2006–2016
2006 5,618.6 280
2007 7,239.1 284
2008 7,218.4 138
2009 6,589.8 23
2010 1,683.5 12
2011 4,747.4 8
2012 5,714.0 12
2013 18,458.7 22
2014 9,940.3 24
2015 10,961.3 14
2016 26,387.3 25
15.9.2 Hydropower Market, China, Split, by Deal Type, 2016
followed by equity offerings and acquisition.
Figure 93: Hydropower Market, China, Split, by Deal Type (%), 2016
Acquisition,
4
Equity offerings,
4
Debt offerings,
92
242
Table 117:Hydropower Market, China, Deals by Type, 2016

Deal type Number
Debt offerings 23
Equity offerings 1
Acquisition 1
15.10 Hydropower Market, China, Major Policies
15.10.1 Preferential Value Added Tax for Small Hydropower
Government incentives have also played a major role in the development of hydropower. The government set a
VAT of 6% of tax preference for small hydropower plants. The profits from existing power plants must be used
for the construction of more small hydro plants.
15.10.2 Rural Electrification Policies Favoring Small Hydro Installation
The government has issued various policies supporting the development of small hydropower plants. The key
policies are a self-scheme based upon the principles of self-construction, self-management, and self-
consumption to promote self-reliance within rural populations; and local financing, whereby loans are granted
for the procurement of equipment for newly built small hydropower at the low end of the band.
15.10.3 Renewable Energy Targets
The 13th plan places more importance on the development of large hydropower stations and pumped storage
facilities in the future, since according the plan, there is a glut of hydropower in the country and it would make
better sense to use existing capacity more efficiently. Some policy objectives that have been outlined in this
direction are:
• Green standards would be put in place for small hydropower facilities,
• Small hydropower facilities will be refurbished to improve generation efficiency,
• Focus on ecological restoration of rivers,
• Small hydropower facilities would be used increasingly for poverty alleviation and helping small farmers,
and
• Improved safety and production standards.
According to the 13th plan, new small hydropower facilities would be given the go-ahead until 2020 only if they
serve the social purpose of alleviating poverty in a certain region as well as filling up the energy shortage in that
area.
243
16 Hydropower Market, Japan
16.1 Hydropower Market, Japan, Overview
In terms of cumulative installed capacity Japan is the sixth-largest hydropower country in the world and is the
second-largest in the Asia-Pacific region after China, with a total installed capacity of 49.5 GW as of 2016.
Hydroelectricity generation in Japan accounts for around 6.9% of the country’s total power generation. Hydro
power previously accounted for the bulk of electric power generating capacity in Japan, but there was a shift to
use thermal power fueled by abundant and inexpensive oil. Furthermore, the operation of nuclear power plants
in Japan has been suspended since the accident at the Fukushima Daiichi Nuclear Power Plant in 2011, making
coal- and gas-fired thermal power the main pillar of electricity supply in Japan.
Japan’s hydropower market can be characterized as a mature, large-scale, and self-sufficient market. Japan
has exhausted almost all available sites for the construction of large-scale hydroelectric power plants, and
recent developments have therefore been on a smaller scale. With government support, the conventional
hydropower market is at a mature stage of development. As the gap between daytime and night-time electricity
demand continues to grow, the focus of electric power companies is shifting toward the development of
pumped-storage power generation plants in order to meet peak demand.
The country has also launched a residential tariff program and introduced the FIT program in order to incentivize
the renewable power market. The FiT rates applicable for small to medium hydro projects; however, the
country’s hydropower market is expected to be limited in 2017 as capacity additions are expected to grow
moderately into the forecast period.
244
16.2 Hydropower Market, Japan, Installed Capacity, 2006–2025
0.7%.
The net annual capacity additions increased from 0.07 GW in 2006 to 0.34 MW in 2016. During 2017–2025, the
net capacity additions are expected to increase from 0.03 GW to 0.66 GW. It is expected that an average of 320
MW of annual additions are to take place during the same period.
The figure and table below illustrate Japan’s hydropower installed capacity during 2006–2025 period.
Figure 94: Hydropower Market, Japan, Installed Capacity (GW), 2006–2025

60 4.0
3.5
50
3.0
40
2.5
30
Growth (%)
2.0
1.5
20
1.0
10
0.5
0
0.0
2023
2025
2008
2011
2022
2007
2010
2018
2006
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
-10 -0.5
245
Table 118: Hydropower Market, Japan, Installed Capacity (GW), 2006–2025

2006 0.07 47.4 –
2007 -0.04 47.3 -0.1
2008 0.03 47.3 0.1
2009 -0.10 47.24 -0.2
2010 0.49 47.74 1.0
2011 0.68 48.4 1.4
2012 0.55 49.0 1.1
2013 0.07 49.0 0.2
2014 0.10 49.1 0.2
2015 0.00 49.1 0.0
2016 0.34 49.5 0.7
2017 0.03 49.5 0.1
2018 0.03 49.5 0.1
2019 0.03 49.6 0.1
2020 0.04 49.6 0.1
2021 0.04 49.7 0.1
2022 0.04 49.7 0.1
2023 0.05 49.8 0.1
2024 1.93 51.7 3.9
2025 0.66 52.3 1.3
246
16.3 Hydropower Market, Japan, Installed Capacity, By Type, 2006–2025
16.3.1 Hydropower Market, Japan, Cumulative Installed Capacity, By Type, 2006–2025
Large hydro installed capacity increased from 18.7 GW in 2006 to 18.9 GW in 2016. It is expected to remain 18.9
GW by 2025.
The small hydro installed capacity is expected to increase from 3.5 GW in 2017 to 3.9 GW in 2025 at a CAGR of
1.2%..
Figure 95: Hydropower Market, Japan, Cumulative Installed Capacity (GW), 2006–2025
60
50
40
30
20
10
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024

247
Table 119: Hydropower Market, Japan, Cumulative Installed Capacity (GW), 2006–2025
2006 18.7 3.5 25.2
2007 18.3 3.5 25.5
2008 18.3 3.5 25.5
2009 18.3 3.5 25.5
2010 18.8 3.5 25.4
2011 18.6 3.5 26.3
2012 18.7 3.5 26.7
2013 18.7 3.5 26.8
2014 18.7 3.5 26.9
2015 18.7 3.5 26.9
2016 18.9 3.5 27.1
2017 18.9 3.5 27.1
2018 18.9 3.6 27.1
2019 18.9 3.6 27.1
2020 18.9 3.7 27.1
2021 18.9 3.7 27.1
2022 18.9 3.7 27.1
2023 18.9 3.8 27.1
2024 18.9 3.8 29.0
2025 18.9 3.9 29.6
248
16.3.2 Hydropower Market, Japan, Annual Installed Capacity, By Type, 2006–2025
Large hydro segment registered 0.05 GW of annual additions in 2006, the annual capacity additions registered a
fluctuating trend during 2006–2016 period.
In pumped storage segment, 0.33 GW and 0.20 GW of the capacity additions were recorded in 2007 and in 2016
respectively. No capacity additions are expected to take place between 2017-2023 period. The estimated
capacity additions in the segment are expected to take place of 1.88 GW in 2024 and 0.60 GW in 2025.
Small hydro annual installed capacity also recorded a fluctuating trend in 2006–2016 period. In 2017–2025
period the capacity installations are expected to increase from 0.03 GW to 0.06 MW.
Figure 96: Hydropower Market, Japan, Annual Installed Capacity (GW), By Type 2006–2025
2,500
2,000
1,500
1,000
500
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
-500 Large hydro Small hydro Pumped storage
249
Table 120: Hydropower Market, Japan, Annual Installed Capacity (GW), 2006–2025
Year Large hydro (MW) Small hydro (MW) Pumped storage (MW)
2006 0.05 0.01 –
2007 -0.38 – 0.33
2008 0.02 0.01 –
2009 -0.07 – -0.03
2010 0.58 – -0.09
2011 -0.22 – 0.90
2012 0.08 – 0.47
2013 – – 0.07
2014 0.02 – 0.07
2015 – – –
2016 0.14 – 0.20
2017 – 0.03 –
2018 – 0.03 –
2019 – 0.03 –
2020 – 0.04 –
2021 – 0.04 –
2022 – 0.04 –
2023 – 0.05 –
2024 – 0.05 1.88
2025 – 0.06 0.60
250
16.4 Hydropower Market, Japan, Hydropower Generation, 2006–2025
Net generation for hydropower in the country declined from 83.9 TWh in 2006 to 75.8 TWh in 2016. It is expected
that generation from hydro will decrease from 75.7 TWh in 2017 to 74.7 TWh in 2025.
The following figure and table illustrate the hydropower generation in Japan during 2006–2025 period.
Figure 97: Hydropower Market, Japan, Hydropower Generation (TWh), 2006–2025

90
80
70
60
Generation (TWh)
50
40
30
20
10
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
251
Table 121: Hydropower Market, Japan, Hydropower Generation (TWh), 2006–2025

2006 83.9
2007 68.6
2008 73.7
2009 75.5
2010 80.0
2011 81.2
2012 72.7
2013 73.6
2014 75.4
2015 75.6
2016 75.8
2017 75.7
2018 75.6
2019 75.4
2020 75.4
2021 75.3
2022 75.2
2023 75.2
2024 74.9
2025 74.7
252
16.4.1 Hydropower Market, Japan, Hydropower Generation, By Type, 2006–2025
Generation from large hydropower and pumped storage decreased from 65.7 TWh in 2006, to 56.7 TWh in 2016.
During 2017–2025, it is expected to decrease from 56.5 TWh to 54.5 TWh
The following figure and table illustrate the hydropower generation in Japan during 2006–2025 period.
Figure 98: Hydropower Market, Japan, Hydropower Generation (TWh), By Type, 2006–2025
90
80
70
60
50
40
30
20
10
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024

253
Table 122: Hydropower Market, Japan, Hydropower Generation (TWh), By Type, 2006–2025
2006 65.7 18.2
2007 50.3 18.3
2008 55.2 18.5
2009 57.0 18.5
2010 61.4 18.6
2011 62.5 18.7
2012 53.9 18.8
2013 54.7 18.9
2014 56.3 19.0
2015 56.5 19.1
2016 56.7 19.1
2017 56.5 19.2
2018 56.3 19.3
2019 56.1 19.4
2020 55.9 19.5
2021 55.7 19.6
2022 55.5 19.7
2023 55.3 19.9
2024 54.8 20.1
2025 54.5 20.3
254
16.5 Hydropower Market, Japan, Market Size ($m), 2006–2025
The market size of hydropower increased from $161.3m in 2006 to $810.9m in 2016. During 2017–2025, it is
expected to increase from $69.7m to $1,544.8m at a CAGR of 47.3%.
The following figure and table illustrate the hydropower market size in Japan during 2006–2025 period.
Figure 99: Hydropower Market, Japan, Market Size ($m), 2006–2025

5,000
4,500
4,000
3,500
Market size ($m)
3,000
2,500
2,000
1,500
1,000
500
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
255
Table 123: Hydropower Market, Japan, Market Size ($m), 2006–2025

Year Market Size
2006 161.3
2007 811.8
2008 68.1
2009 –
2010 1,399.7
2011 2,174.6
2012 1,335.6
2013 180.4
2014 233.8
2015 3.2
2016 810.9
2017 69.7
2018 76.2
2019 83.1
2020 90.4
2021 98.0
2022 105.9
2023 114.0
2024 4,560.5
2025 1,544.8
256
16.6 Hydropower Market, Japan, Tenders and Contracts, 2015-2016
The following table illustrates the major tenders and contracts in Japan during 2015–2016.
Table 124: Hydropower Market, Japan, Major Tenders and Contracts,2015-2016

Response
Announcement Tender/ Client End/
Description Segment Category Status
Date Contract Company Contract
Award Date
Hitachi Mitsubishi Hydro
Supplies 10.9 MW Vertical- Mibugawa
Shaft Pelton Turbine And 12 Generation Supply and Electric
March 8, 2016 Contract Signed 2013
MVA Synchronous Generator Equipment Erection Power Co.,
For Mibugawa 2 Power Plant Inc.
In Japan
Upgrades Two
JX Nippon
2860kW/3000kVA Vertical- Repair,
Generation Mining &
March 3, 2016 Shaft Francis Turbines At Contract Maintennace Signed 2014
Equipment Metals
Kakinosawa Power Plant Of JX and Upgrade
Corporation
Nippon Mining & Metals In
Japan
Chubu
Replaces Automatic Control Repair,
Generation Electric
Feb 3, 2015 System At Okumino Power Contract Maintennace Sigend 2013
Equiopment Power Co.,
Station Of Chubu Electric and Upgrade
Inc
Power In Japan
16.7 Hydropower Market, Japan, Major Active Plants, 2015–2016
The following table illustrates the major active plants in Japan during 2015–2016 period.
Table 125: Hydropower Market, Japan, Major Upcoming Plants, 2015–2016

Plants River /Basin Capacity (MW) Owner Year Online
Tokuyama – – – 2016
Shuparo Ibi 26.6 – 2015
Shin Hayatsuki Yubari Shuparo Dam 1.34 – 2015
257
16.8 Hydropower Market, Japan, Major Upcoming Plants, 2015
The following table illustrates the major upcoming plants in Japan.
Table 126: Hydropower Market, Japan, Major Upcoming Plants, 2016–2025

Plants River /Basin Capacity (MW) Owner Status Year Online
Kannagawa Minamiaiki – – Under Construction 2024
Kazunogawa Hikawa and Tsuchimurogawa – – Under Construction 2024
Kyogoku Pepenai and Bihinai – – Under Construction 2025
Seinaiji Tenryu 5.6 – Announced 2022
Gifu Jinzu 2 Daiwa House Industry Co., Ltd. Under Construction 2017
258
16.9 Hydropower Market, Japan, Investment Trends, 2016
16.9.1 Hydropower Market, Japan, Deal Volume vs. Deal Value, 2006–2016
Deals in hydropower sector were approximately 4, at a total value of $711.8m in 2016, of which all were debt
offerings. The number decreased from 23 in 2010 to 4 in 2016, and the total deal value decreased from
$7,616.0m in 2010 to $711.8m in 2016.
Figure 100: Hydropower Market, Japan, Deal Volume vs. Deal Value ($m), 2006–2016
12,000 40
35
10,000
30
8,000
25
Number of deals
Deal value ($m)
6,000 20
15
4,000
10
2,000
5
0 0
2006
2009
2016
2013
2015
2012
2008
2011
2007
2010
2014

259
Table 127:Hydropower Market, Japan, Deal Volume vs. Deal Value ($m), 2006–2016
2006 3,330.6 13
2007 10,424.9 37
2008 9,334.6 26
2009 10,382.5 24
2010 7,616.0 23
2011 – 1
2012 – –
2013 – –
2014 24.5 2
2015 1,149.2 2
2016 711.8 4
16.10 Hydropower Market, Japan, Major Policies
16.10.1 Japan Renewable Energy Policy Platform
The Japan Renewable Energy Policy Platform (JREPP) aims to study and suggest proposals for renewable
energy policies. It was launched in July 2008 by groups involved in renewable energy initiatives. The following
factors and policies were suggested as necessary to fulfilling the aims of the policy:
• Setting clear medium- and long-term targets for the renewable energy initiatives taken up by central
and local governments
• Creating public awareness and fostering understanding and agreement regarding the use of renewable
energy
• Implementing appropriate strategies to lower the entry barriers and expand the renewable energy
markets
260
16.10.2 Green Investment Tax Credit
In June 2011, the government established the Green Investment Tax system to promote investment related to
environmental fields, including renewable energy. A corporation or individual investing in green energy could
receive tax treatment in the form of depreciation equivalent to 30% of the acquisition price or a 7% tax credit for
new energy facilities established between June 30, 2011 and March 31, 2014.
16.10.3 Strategic Energy Plan
On April 11, 2014, the government decided to approve the new Strategic Energy Plan as the basis for the
orientation of Japan’s new energy policy following the 2011 earthquake and subsequent meltdown at TEPCO’s
Fukushima Daiichi nuclear power station.
The plan presents the basic principles of Japan’s energy policy, namely, safety, energy security, and improving
economic efficiency and shows the basic direction of the energy policy.
261
17 Hydropower Market, India
17.1 Hydropower Market, India Overview
India’s cumulative hydro installed capacity stood at 49.2 GW as of 2015 with 4.5% growth from the previous year.
According to the Central Electricity Authority (CEA), India’s hydropower has an estimated potential of 148 GW
which can substantially contribute toward the meeting the energy needs of the country.
Hydropower electricity generation in India accounts for around 10.2% of the total power generation mix and is
the second-largest contributor to the mix. Most of the hydropower development in the country is concentrated
in the northeastern and the northern regions. Furthermore, hydropower is distributed across six major river
systems, three of which, Indus, Brahmaputra, and Ganga, together account for nearly 80% of the total potential.
The economically exploitable potential from these rivers systems through medium and major schemes has been
assessed at 84 GW at 60% load factor. However, only one-third of the total potential in the northern and only 2%
of the total potential in the northeastern region has been developed up to now.
The current government has set an ambitious target of renewable energy capacity addition. This will help India
offer the global community a 35% reduction in the GHG emission intensity of its economy below 2005 levels by
2030 as part of its INDCs. At present, India has committed to 20–25% reduction below 2005 levels by 2020.
Small hydropower is expected to increase in India in future as a result of increasing targets for utilities and
increased installations in water-rich northeastern states in the country. The country has an identified small
hydro (up to 25 MW) potential of nearly 10 GW distributed over 4,000 sites. It is estimated there is still an
unidentified potential of 5 GW. Small hydropower projects are generally developed in the potential regions by the
State Electricity Boards (SEBs) and state renewable energy agencies. The Ministry of New and Renewable
Energy (MNRE) is providing financial support to state governments/agencies for the identification of new
potential small hydropower sites and the preparation of state perspective plans.
Although the country has wide opportunity for hydropower development, it faces challenges like land
acquisition, environmental concerns, statutory clearances, approvals, establishment of independent regularity
commissions, and consent of the different states which all affect a project. Hydropower development is
challenged by varying risks and uncertainties and these projects’ development needs government support in
terms of data availability, financing, and market development. Considering the hurdles for the hydropower
development, the Government of India has undertaken several policy level changes to promote the hydropower
development and facilitate investment in the sector. As a part of the initiatives the government has increased
financial allocation, along with the other non-financial support as well, and it is also in the process of
establishing a dedicated hydropower development fund
262
17.2 Hydropower Market, India, Installed Capacity, 2006–2025
4.8%.
The net annual capacity additions decreased from 2.5 GW in 2006 to 2.1 GW in 2016. During 2017–2025, the net
capacity additions are expected to increase from 2.2 GW to 2.6 GW. It is expected that an average of 2.8 GW of
annual additions are to take place during the same period.
The figure and table below illustrate India’s cumulative hydropower installed capacity during 2006–2025 period.
Figure 101: Hydropower Market, India, Installed Capacity (GW), 2006–2025

80 8
70 7
60 6
50 5
Growth (%)
40 4
30 3
20 2
10 1
0 0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
263
Table 128: Hydropower Market, India, Installed Capacity (GW), 2006–2025

2006 2.5 36.6 –
2007 1.5 38.1 4.0
2008 1.2 39.3 3.2
2009 0.3 39.61 0.8
2010 1.0 40.61 2.5
2011 1.0 41.6 2.4
2012 1.5 43.1 3.7
2013 1.2 44.3 2.8
2014 1.0 45.3 2.2
2015 1.7 47.1 3.8
2016 2.1 49.2 4.5
2017 2.2 51.4 4.4
2018 2.8 54.2 5.5
2019 3.8 58.0 6.9
2020 2.8 60.7 4.8
2021 3.0 63.8 5.0
2022 2.5 66.2 3.9
2023 3.0 69.2 4.5
2024 3.0 72.3 4.4
2025 2.6 74.8 3.5
17.3 Hydropower Market, India, Installed Capacity, By Type, 2006–2025
17.3.1 Hydropower Market, India, Cumulative Installed Capacity, By Type, 2006–2025
Large hydro installed capacity increased from 32.4 GW in 2006 to 41.2 GW in 2016. During the 2017–2025
forecast period, the large hydropower installed capacity is expected to increase from 43.1 GW to 59.9 GW at a
CAGR of 4.2%
expected to increase from 4.9 GW in 2017 to 7.5 GW in 2025 at a CAGR of 5.7%
264
The figure and table below illustrate the cumulative installed capacity in India during 2006–2025 period.
Figure 102: Hydropower Market, India, Cumulative Installed Capacity (GW), By Type, 2006–2025
80
70
60
50
40
30
20
10
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
265
Table 129: Hydropower Market, India, Cumulative Installed Capacity (GW), By Type, 2006–2025
2006 32.4 2.0 2.2
2007 32.8 2.2 3.1
2008 33.5 2.4 3.4
2009 33.5 2.7 3.4
2010 34.2 3.0 3.4
2011 34.8 3.4 3.4
2012 36.1 3.6 3.4
2013 37.1 3.8 3.4
2014 37.9 4.1 3.4
2015 39.4 4.3 3.4
2016 41.2 4.5 3.4
2017 43.1 4.9 3.4
2018 45.6 5.2 3.4
2019 48.1 5.5 4.4
2020 50.5 5.9 4.4
2021 53.2 6.2 4.4
2022 54.8 6.6 4.9
2023 56.4 6.9 5.9
2024 58.1 7.2 6.9
2025 59.9 7.5 7.4
17.3.2 Hydropower Market, India, Annual Installed Capacity, By Type, 2006–2025
Large hydro segment registered 2.1 GW annual additions in 2006, and by 2016 annual additions declined to 1.9
GW. In 2017–2025 period capacity installations are expected to decline marginally from 1.9 GW to 1.8 GW.
In pumped storage segment, 0.2 GW annual capacity additions were witnessed in 2006 and no further capacity
additions were recorded during 2009–2016. New capacity additions in the segment are expected from 2019
onwards and it is expected that in 2025 around 0.5 GW capacity will be installed.
Small hydro annual installed capacity increased from 0.1 GW in 2006 to 0.3 GW in 2016 at a CAGR of 6.3%.
266
Figure 103: Hydropower Market, India, Annual Installed Capacity (GW), By Type, 2006–2025
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014

267
Table 130: Hydropower Market, India, Annual Installed Capacity (GW), By Type, 2006–2025
2006 2.1 0.1 0.2
2007 0.4 0.2 0.9
2008 0.7 0.2 0.3
2009 0.02 0.3 –
2010 0.7 0.3 –
2011 0.6 0.4 –
2012 1.3 0.2 –
2013 1.0 0.2 –
2014 0.7 0.3 –
2015 1.5 0.2 –
2016 1.9 0.3 –
2017 1.9 0.3 –
2018 2.5 0.3 –
2019 2.4 0.3 1.0
2020 2.4 0.3 –
2021 2.7 0.4 –
2022 1.6 0.3 0.5
2023 1.7 0.3 1.0
2024 1.7 0.3 1.0
2025 1.8 0.3 0.5
268
17.4 Hydropower Market, India, Hydropower Generation, 2006–2025
5.4%.
The following figure and table illustrate the hydropower generation in India during 2006–2025 period.
Figure 104: Hydropower Market, India, Hydropower Generation (TWh), 2006–2025

250
200
Generation (TWh)
150
100
50
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
269
Table 131: Hydropower Market, India, Hydropower Generation (TWh), 2006–2025

Year hydro generation (TWh)
2006 111.2
2007 115.2
2008 108.8
2009 102.3
2010 111.0
2011 128.3
2012 112.2
2013 134.0
2014 129.2
2015 121.3
2016 130.7
2017 138.3
2018 148.0
2019 156.7
2020 166.6
2021 177.5
2022 185.7
2023 193.7
2024 202.0
2025 211.1
270
17.4.1 Hydropower Market, India, Generation, By Type, 2006–2025
The following figure and table illustrate the hydropower generation in India during 2006–2025 period.
Figure 105: Hydropower Market, India, Hydropower Generation (TWh), By Type, 2006–2025
250
200
150
100
50
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014

271
Table 132: Hydropower Market, India, Hydropower Generation (TWh), By Type, 2006–2025
2006 104.8 6.4
2007 108.2 7.1
2008 100.9 7.9
2009 93.5 8.9
2010 101.1 9.9
2011 117.3 11.0
2012 100.4 11.8
2013 121.6 12.3
2014 116.0 13.2
2015 108.1 13.2
2016 115.9 14.7
2017 122.6 15.7
2018 131.2 16.8
2019 138.9 17.9
2020 147.6 19.0
2021 157.3 20.1
2022 164.4 21.3
2023 171.3 22.4
2024 178.5 23.4
2025 186.7 24.4
272
17.5 Hydropower Market, India, Market Size ($bn), 2006–2025
Market size of hydropower decreased from $4.0 billion in 2006 to $3.1 billion in 2016. During 2017–2025, it is
expected to increase from $3.2 billion to $3.5 billion at a CAGR of 1.2%.
The following figure and table illustrate the hydropower market size in India during 2006–2025 period.
Figure 106: Hydropower Market, India, Market Size ($bn), 2006–2025

6.0
5.0
4.0
Market size ($bn)
3.0
2.0
1.0
-
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
273
Table 133: Hydropower Market, India, Market Size ($bn), 2006–2025

Type Market Size
2006 4.0
2007 2.3
2008 1.9
2009 0.5
2010 1.6
2011 1.5
2012 2.3
2013 1.8
2014 1.5
2015 2.6
2016 3.1
2017 3.2
2018 4.1
2019 5.4
2020 4.0
2021 4.3
2022 3.5
2023 4.2
2024 4.2
2025 3.5
17.6 Hydropower Market, India, Major Tenders and Contracts, 2016
The following table illustrates the major tenders and contracts in India in 2016.
Table 134: Hydropower Market, India, Major Tenders and Contracts,2016

Response
Announcement End/
Description Segment Category Status Client Company
Date Contract
Award Date
Jharkhand Renewable Energy
Development Agency Limited
Invites Tenders For Installation Jharkhand Renewable
Jan 09,
Nov 12, 2016 Of 125.20 MW Small Hydro Power Plant Construction Closed Energy Development
2017
Power Plants On Build, Own, Agency Ltd
Operate And Transfer (BOOT)
Basis
Bharat Heavy Electricals Limited
Invites Tenders For Supply Of T&D Supply & Bharat Heavy Electricals
Nov 03, 2016 Closed Dec 01, 2016
Lightning Arresters At Turial Equipment Erection Limited
Hydro Electric Project
NHPC Limited Invites Tenders Repair,
For Supply Of Spare Prats For Generation Maintenance,
Nov 01, 2016 Closed NHPC Limited Nov 11, 2016
40 MW Generator Sets And Equipment Upgrade &
Turbines At Tanakpur Power Others
274
Station
Bharat Heavy Electricals To
Repair,
Renovate & Modernize 6 X 60
Generation Maintenance, Odisha Hydro Power
Oct 03, 2016 MW Balimela Hydro Electric Signed 2016
Equipment Upgrade & Corporation Ltd.
Plant Of Odisha Hydro Power
Others
Corporation In India
Bharat Heavy Electricals To
Repair,
Renovate & Modernize 3 X 60
Generation Maintenance,
Oct 03, 2016 MW Bairasiul Hydro Electric Signed NHPC Limited 2016
Equipment Upgrade &
Plant Of National Hydro Power
Others
NHPC Signs Power Purchase
North Bihar Power
Agreement Extension For
Electricity Distribution Company
Teesta-V And Rangit Power Electricity
Oct 03, 2016 Procuremen Signed Ltd; South Bihar Power 2016
Stations With North And South Supply
t Distribution Company
Power Distribution Companies
Ltd
Of Bihar, India
Electricity
Agreement Extension For Electricity Department of Power,
Oct 03, 2016 Procuremen Signed 2016
Teesta-V And Rangit Power Supply Sikkim
t
Stations With Sikkim, India
Agreement Extension For Electricity
Electricity Damodar Valley
Oct 03, 2016 Teesta-V And Rangit Power Procuremen Signed 2016
Supply Corporation
Stations With Damodar Valley t
Maharashtra State Power
Generation Company Invites
Maharashtra State
Tenders For Supply Of 30kV & T&D Supply &
Oct 01, 2016 Closed Power Generation Co. Oct 21, 2016
198kV Lightening Arrestors At Equipment Erection
Ltd.
Stage-III Of Koyna Hydro Power
Station
NHPC Invites Tenders For
Repair,
Annual Maintenance Of 3x77 MW
Generation Maintenance,
Sep 01, 2016 Hydro Generator Sets At Closed NHPC Limited Sep 27, 2016
Equipment Upgrade &
Chamera Phase III Hydro Power
Others
Plant
275
17.7 Hydropower Market, India, Major Active Plants, 2015–2016
The following table illustrates the major active hydropower plants in India during 2015–2016 period.
Table 135: Hydropower Market, India, Major Active Plants, 2015–2016

Capacity Year
(MW) Online
Baglihar Chenab – – 2015
Kol Satluj 800 NTPC Limited 2015
Shrinagar / Srinagar Alaknanda 330 Alaknanda Hydro Power Company Ltd. 2015
Kashang Kashang – – 2016
Lower Jurala H.E.P Krishna 240 Telangana Power Generation Corporation Limited 2016
Teesta Lower IV Teesta 160 NHPC Limited 2016
Pulichintala Krishna – – 2016
IL&FS Energy Development Company Limited;
Sorang Sorang Khad 100 2015
NCC Limited
Jorethang Loop Rangit 96 Dans Energy Pvt. Ltd. 2015
Nagarjunasagar Tail Pond Dam Power Andhra Pradesh Power Generation Corporation
Krishna 50 2015
House Limited
Chanju
Chanju I 36 IA Energy Private Limited 2016
nallah
Barapole Barapole 15 Kerala State Electricity Board Limited 2016
Bhavani Barrage Phase I Bhavani 10 TNEB Ltd 2016
Nilwande Pravara 7 – 2015
276
17.8 Hydropower Market, India, Major Upcoming Plants, 2017–2022
The following table illustrates the major upcoming hydropower plants in India during 2017–2022 period.
Table 136: Hydropower Market, India, Major Upcoming Plants, 2017–2022

Capacity Year
(MW) Online
Upper Siang
Siang 6000 NHPC Limited Permitting –
Stage -I
Upper Siang NHPC Limited; North Eastern Electric Power Corporation
Siang 3750 Permitting –
Stage -II Limited
Dibang Dibang 3000 NHPC Limited Permitting –
Government of Arunachal Pradesh; Jaiprakash Power
Lower Siang Siang 2700 Permitting 2018
Ventures Limited
Subansiri Under
Subansiri 2000 NHPC Limited 2020
(Lower) Construction
Tamil Nadu Generation and Distribution Corporation
Sillahalla Sillahalla 2000 Permitting 2022
Limited
Jammu and Kashmir State Power Development
Sawalkot Chenab 1856 Permitting –
Corporation Limited
Subansiri
Subansiri 1800 KSK Energy Ventures Limited Announced 2017
(Upper)
Hydro Power Development Corporation of Arunachal
Kamala HEP Kamala 1800 Permitting 2018
Pradesh Ltd.; Jindal Power Limited
277
17.9 Hydropower Market, India, Investment Trends, 2016
17.9.1 Hydropower Market, India, Deal Volume vs. Deal Value, 2006–2016
Deals in hydropower sector were approximately 20, at a total value of $3,882.5m in 2016. The number decreased
from 32 in 2010 to 20 in 2016, and the total deal value decreased from $7,103.5m in 2010 to $3,882.5m in 2016.
Figure 107: Hydropower Market, India, Deal Volume vs. Deal Value ($m), 2006–2016
9,000 80
8,000 70
7,000
60
6,000
50
Number of deals
Deal value ($m)
5,000
40
4,000
30
3,000
20
2,000
1,000 10
0 0
2008
2011
2007
2006
2010
2009
2014
2016
2013
2015
2012

278
Table 137:Hydropower Market, India, Deal Volume vs. Deal Value ($m), 2006–2016
2006 8,420.1 60
2007 5,993.1 57
2008 5,947.2 69
2009 7,985.3 45
2010 7,103.5 32
2011 2,735.8 12
2012 2,737.5 26
2013 2,719.6 15
2014 2,648.8 17
2015 3,135.7 7
2016 3,882.5 20
17.9.2 Hydropower Market, India, Split, by Deal Type, 2016
followed by acquisition and equity offerings.
Figure 108: Hydropower Market, India, Split, by Deal Type (%), 2016
Asset transactions,
5
Equity offerings,
15
Acquisition, Debt offerings,

20 60
279
Table 138:Hydropower Market, India, Deals by Type, 2016

Deal type Number
Debt offerings 12
Acquisition 4
Equity offerings 3
17.10 Hydropower Market, India, Major Policies
17.10.1 Small Hydropower Program
The Small Hydrogen Power Program aims to install 7 GW of cumulative small hydropower by the end of the 12th
FYP in the 2012–2017 period. The focus of the program is to reduce the cost of equipment, improve reliability,
and set up projects with higher capacities. India has a small hydro potential of 15 GW, and the MNRE has created
a database of 5,415 potential sites, with a total capacity of 14.3 GW. The MNRE is providing financial support to
state governments and relevant agencies for the identification of new potential small hydropower sites and the
preparation of state perspective plans.
17.10.2 Financial Support to Private Sector, Joint Sector, and Co-operative Society
The MNRE will provide financial assistance to small hydro projects with capacities of up to 25 MW. The financial
support will be released in two installments:
In the first installment, 50% of the payment will be given for the placement of orders for electromechanical
equipment and disbursement during project execution.
In the second installment, the remaining 50% will be spent on project commissioning, commercial generation,
and performance testing.
Table 139: Support for Hydropower in Private Sector, Joint Sector, and Co-operative Societies, India, 2015
Small hydro project capacity
Area
≤1 MW > 1 MW ≤ 25 MW
Special category states (north-east region, Sikkim, Jammu and INR20,000/kW INR20m ($0.3m) for first MW and INR3m
Kashmir, Himachal Pradesh, Uttaranchal) ($300) ($43,811) for each additional MW
INR12,000/kW INR12m ($0.18m) for first MW and INR2m
Other states
($180) ($29,208) for each additional MW
Source: GlobalData
280
17.10.3 Financial Support to State Government, Central Government, and Public Sector Units
MNRE will provide financial assistance to small hydro projects with capacities not exceeding 25 MW. The state
implementing agency or the owner of the project should bear a minimum of 10% of the approved project cost.
Table 140: Support for Hydropower in State Government, Central Government, and Public Sector Units,
India, 2015
Small hydro project capacity
Area
≤1 MW > 1 MW ≤ 25 MW
Special category states (north-east region, Sikkim, Jammu and INR50,000/kW INR50m ($0.75m) for first MW and INR5m
Kashmir, Himachal Pradesh, Uttaranchal) ($750) ($73,020) for each additional MW
INR25,000/kW INR25m ($0.75m) for first MW and INR4m
Other states
($375) ($58,415) for each additional MW
Source: GlobalData
17.10.4 Feed-in Tariff for Small Hydropower
Feed-in tariffs paid by the CERC for small hydropower in various states are listed below:
• Himachal Pradesh, Uttarakhand, and the north-eastern states (<5 MW) – INR4.70/kWh ($0.069/kWh),
• Himachal Pradesh, Uttarakhand, and the north-eastern states (5 MW–25 MW) – INR3.99/kWh
($0.059/kWh),
• Other states (<5 MW) – INR5.54 ($0.081/kWh),
• Other states (5 MW–25 MW) – INR4.69 ($0.069/kWh).
281
18 Hydropower Market, Vietnam
18.1 Hydropower Market, Vietnam, Overview
Vietnam is one of the largest emerging hydropower countries in the world, with a cumulative installed capacity
of 17.6 GW as of 2016. Hydropower is a mature technology in Vietnam, and the country possesses conventional
hydropower plants, which help to generate electricity during periods of peak demand on a short-term basis.
However, the main problem with hydropower plants in Vietnam is that they do not comply with the basic norms
of river basin planning. Hydropower plant dams do not stop floods in the rainy season. Moreover, because they
have to store water for power generation, they cause water shortages in lowland areas during the dry season.
Hydroelectricity generation in Vietnam accounts for around 10.2% of the country’s total power generation
The high frequency of the droughts affects reliability on hydropower and increases the vulnerability of electricity
shortages. Nevertheless, hydro will remain an important power source and the government has plans to add
about 3 GW of hydro by 2020. Some of the policies like the 7th master plan for power development for 2011–2020
are especially for multi-purpose projects.
The government, in December, approved the new Renewable Energy Development Strategy to 2030 with an
outlook to 2050, which builds on the 7th Power Master Plan and gives priority to renewable energies.
Hydropower will continue to play an important role in the electricity mix in the forecast period of 2017–2025,
although its share might decrease due to extended focus on thermal power development, in particular coal. As
of 2016, the country had 15.4 GW of large hydro capacity, and 2.2 GW of small hydropower capacity. By 2025, the
cumulative hydropower capacity is expected to reach 24.1 GW: of this total installed capacity 19.1 GW is expected
to come from large hydro, 3.8 GW will come from small hydro, while pumped storage is estimated to be around
1.2 GW.
282
18.2 Hydropower Market, Vietnam, Installed Capacity, 2006–2025
The hydropower installed capacity in the country increased from 4.7 GW in 2006 to 17.6 GW in 2016. During 2017–
2025, the cumulative capacity installations are expected to increase from 18.5 GW to 24.1 GW at a CAGR of 3.3%.
The net annual capacity additions increased from 0.3 GW in 2006 to 1.1 GW in 2016. During 2017–2025, the net
capacity additions are expected to decrease from 1.0 GW to 0.5 GW. It is expected that an average of 0.7 GW of
annual additions are to take place during the same period.
The figure and table below illustrate Vietnam’s cumulative hydropower installed capacity during 2006–2025
period.
Figure 109: Hydropower Market, Vietnam, Installed Capacity (GW), 2006–2025
30 35
30
25
25
20
20
Growth (%)
15
15
10
10
5
5
0 0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
283
Table 141: Hydropower Market, Vietnam, Installed Capacity (GW), 2006–2025

2006 0.3 4.7 –
2007 0.01 4.7 0.2
2008 0.9 5.6 18.2
2009 1.0 6.57 17.1
2010 1.5 8.03 22.2
2011 2.5 10.5 31.0
2012 2.5 13.1 24.1
2013 1.6 14.7 12.4
2014 0.5 15.1 3.1
2015 1.3 16.4 8.5
2016 1.1 17.6 6.9
2017 1.0 18.5 5.5
2018 0.6 19.1 3.2
2019 0.4 19.5 2.1
2020 1.5 21.1 7.9
2021 0.6 21.7 3.0
2022 0.6 22.3 2.9
2023 0.6 23.0 2.8
2024 0.6 23.6 2.8
2025 0.5 24.1 2.1
284
18.3 Hydropower Market, Vietnam, Installed Capacity, By Type, 2006–2025
18.3.1 Hydropower Market, Vietnam, Cumulative Installed Capacity, By Type, 2006–2025
Large hydro installed capacity increased from 4.4 GW in 2006 to 15.4 GW in 2016. During the 2017–2025, the
large hydropower installed capacity is expected to increase from 16.1 GW to 19.1 GW at a CAGR of 2.1%
The pumped storage installed capacity is expected to remain 1.2 GW from 2020 to 2025.
expected to increase from 2.4 GW in 2017 to 3.8 GW in 2025 at a CAGR of 6.1%
Figure 110: Hydropower Market, Vietnam, Cumulative Installed Capacity (GW), By Type, 2006–2025
30
25
20
15
10
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024

285
Table 142: Hydropower Market, Vietnam, Cumulative Installed Capacity, Share By Type (%), 2006–2025
2006 4.4 0.4 –
2007 4.4 0.4 –
2008 5.3 0.4 –
2009 6.2 0.4 –
2010 7.6 0.4 –
2011 10.1 0.4 –
2012 12.0 1.0 –
2013 13.0 1.7 –
2014 13.4 1.7 –
2015 14.5 1.9 –
2016 15.4 2.2 –
2017 16.1 2.4 –
2018 16.5 2.6 –
2019 16.7 2.8 –
2020 16.9 3.0 1.2
2021 17.3 3.2 1.2
2022 17.8 3.4 1.2
2023 18.2 3.5 1.2
2024 18.7 3.7 1.2
2025 19.1 3.8 1.2
18.3.2 Hydropower Market, Vietnam, Annual Installed Capacity, By Type, 2006–2025
Large hydro segment registered 0.3 GW annual additions in 2006, and by 2016 annual additions increased to 0.9
GW. In 2017–2025 period, installations are expected to decrease from 0.7 GW to 0.4 GW.
New capacity additions in the pumped storage segment are expected in 2020 with a capacity of 1.2 GW.
Small hydro installations witnessed zero additions during 2006–2008 period, 0.05 GW capacity was installed in
2009, and capacity addition increased to 0.2 GW by 2016. During 2017–2025 the capacity additions are expected
to decline from 0.2 GW to 0.1 GW, respectively.
286
Figure 111: Hydropower Market, Vietnam, Annual Installed Capacity (GW), By Type 2006–2025
3.0
2.5
2.0
1.5
1.0
0.5
0.0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014

287
Table 143: Hydropower Market, Vietnam, Annual Installed Capacity (GW), By Type 2006–2025
2006 0.3 – –
2007 0.0 – –
2008 0.9 – –
2009 0.9 0.05 –
2010 1.5 – –
2011 2.5 0.02 –
2012 1.9 0.6 –
2013 1.0 0.6 –
2014 0.4 – –
2015 1.1 0.2 –
2016 0.9 0.2 –
2017 0.7 0.2 –
2018 0.4 0.2 –
2019 0.2 0.2 –
2020 0.1 0.2 1.2
2021 0.4 0.2 –
2022 0.5 0.2 –
2023 0.5 0.2 –
2024 0.5 0.2 –
2025 0.4 0.1 –
288
18.4 Hydropower Market, Vietnam, Generation, 2006–2025
expected that generation from hydro will increase from 79.5 TWh in 2017 to 97.1 TWh in 2025, at a CAGR of 2.5%.
The following figure and table illustrate the hydropower generation in the Vietnam during 2006–2025 period.
Figure 112: Hydropower Market, Vietnam, Hydropower Generation (TWh), 2006–2025

120
100
80
Generation (TWh)
60
40
20
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
289
Table 144: Hydropower Market, Vietnam, Hydropower Generation (TWh), 2006–2025

2006 19.6
2007 22.4
2008 26.0
2009 30.0
2010 27.5
2011 40.9
2012 52.8
2013 61.9
2014 67.6
2015 73.2
2016 76.8
2017 79.5
2018 80.5
2019 82.1
2020 82.6
2021 82.8
2022 85.6
2023 90.6
2024 93.1
2025 97.1
18.4.1 Hydropower Market, Vietnam, Hydropower Generation, By Type, 2006–2025
During 2017–2025, it is expected to increase from 72.1 TWh to 84.3 TWh.
The generation through small hydro increased from 0.3 TWh in 2006 to 6.6 TWh in 2016. During 2017–2025 small
hydro generation is expected to increase from 7.4 TW to 12.8 TWh at a CAGR of 7.1%.
The following figure and table illustrate the hydropower generation in Vietnam during 2006–2025 period.
290
Figure 113: Hydropower Market, Vietnam, Hydropower Generation (TWh), By Type, 2006–2025
120
100
Generation by type (GW)
80
60
40
20
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
291
Table 145: Hydropower Market, Vietnam, Hydropower Generation (TWh), By Type, 2006–2025
2006 19.2 0.3
2007 21.6 0.9
2008 24.6 1.4
2009 28.3 1.7
2010 25.7 1.8
2011 37.4 3.5
2012 48.4 4.4
2013 56.9 5.0
2014 62.5 5.1
2015 67.4 5.8
2016 70.2 6.6
2017 72.1 7.4
2018 72.4 8.2
2019 73.2 8.9
2020 73.0 9.6
2021 72.5 10.3
2022 74.6 11.0
2023 79.0 11.6
2024 80.9 12.2
2025 84.3 12.8
292
18.5 Hydropower Market, Vietnam, Market Size ($m), 2006–2025
Market size of hydropower increased from $330.2m in 2006 to $1,179.4m in 2016 at a CAGR of 13.6%. During
2017–2025, it is expected to decrease from $1,001.7m to $512.8m.
The following figure and table illustrate the hydropower market size in Vietnam during 2006–2025 period.
Figure 114: Hydropower Market, Vietnam, Market Size ($m), 2006–2025

3,000
2,500
2,000
Market size ($m)
1,500
1,000
500
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
293
Table 146: Hydropower Market, Vietnam, Market Size ($m), 2006–2025

Year Market Size
2006 330.2
2007 10.5
2008 906.0
2009 1,007.4
2010 1,526.7
2011 2,601.3
2012 2,641.6
2013 1,690.2
2014 477.4
2015 1,343.4
2016 1,179.4
2017 1,001.7
2018 617.1
2019 421.8
2020 1,591.5
2021 653.0
2022 653.4
2023 654.4
2024 656.0
2025 512.8
294
18.6 Hydropower Market, Vietnam, Tenders and Contracts, 2015–2016
The following table illustrates the major tenders and contracts in Vietnam during 2015–2016 period.
Table 147: Hydropower Market, Vietnam, Major Tenders and Contracts, 2015–2016
Tender/ Response
Announcement
Date Contract Award Date
General Electric (GE) To Provide
Supply
Modernization Services For 4 X Generation
April 12, 2016 Contract and Signed Vietnam Electricity 2016
100 MW Tri An Hydropower Equipment
Erection
Plant In Vietnam
Andritz Hydro To Supply Three
Vneco Hoi Xuan
Bulb Turbines And Generators Supply
Generation Investment &
Dec 18, 2015 For The New Hoi Xuan Contract and Signed 2015
Equipment Electricity
Hydropower Station In Northern Erection
Construction
Vietnam
Flovel Energy To Supply Hydro
Supply
Turbines And Equipment For Generation
May 28, 2015 Contract and Signed 2015
Bac Na Hydropower Plant In Equipment
Erection
Vietnam
18.7 Hydropower Market, Vietnam, Major Active Plants, 2015–2016
The following table illustrates the major active hydropower plants during 2015–2016 period.
Table 148: Hydropower Market, Vietnam, Major Active Plants, 2015–2016

Lai Chau Da – – 2015
Dong Nai Dong Nai – Vinacomin-Power Holding Corporation Limited 2015
Huoi Quang Nam Mu 520 Vietnam Electricity 2015
Nho Que 2 Nho Que 48 Bitexco Group 2016
Coc San Ngoi Dum 29.7 Colben Energy (Vietnam) Joint Stock Company; Nexif Pte. Ltd. 2016
Khao Mang Thuong – 25 – 2015
A Roang A Roang 7.2 Central Power Corporation 2016
295
18.8 Hydropower Market, Vietnam, Major Upcoming Plants, 2017–2022
The following table illustrates the major upcoming hydropower plants in Vietnam during 2017–2022 period.
Table 149: Hydropower Market, Vietnam, Major Upcoming Plants, 2017–2022

Capacity Year
(MW) Online
Dong Phu Yen – 1200 Vietnam Electricity Announced 2018
Moc Chau – 900 Vietnam Electricity Announced –
Under
Trung Son Ma 260 Trung Son Hydropower Company Limited 2017
Construction
Dak Nghe/Se Vietnam Electricity; Vinh Son - Song Hinh Under
Thuong kon tum 220 2017
San Hydropower Joint Stock Company Construction
VNECO Hoi Xuan Investment and Electricity Under
Hoi Xuan Ma 102 2018
Construction Construction
Under
Song Bung Phase 2 Song Bung 100 Vietnam Electricity –
Construction
Vinh Son - Song Hinh Hydropower Joint Stock
Vinh Son 2 Ba River 80 Permitting 2019
Company
Hoang Anh Gia Lai Hydropower Joint Stock
Buon Don – 64 Financed –
Company
Dak Re – 60 Permitting 2022
296
18.9 Hydropower Market, Vietnam, Investment Trends, 2016
18.9.1 Hydropower Market, Vietnam, Deal Volume vs. Deal Value, 2006–2016
1 deal was completed in hydropower sector in the country in 2016 and it was asset transaction. The number
decreased from 4 in 2010 to 1 in 2015, and the total deal value decreased from $322.7m in 2010 to $76.1m in
2015.
Figure 115: Hydropower Market, Vietnam, Deal Volume vs. Deal Value ($m), 2006–2016
3,000 20
18
2,500
16
14
2,000
Number of deals
Deal value ($m)
12
1,500 10
8
1,000
6
4
500
2
0 0
2008
2011
2007
2006
2010
2009
2014
2016
2013
2015
2012

297
Table 150:Hydropower Market, Vietnam, Deal Volume vs. Deal Value ($m), 2006–2016
2006 402.6 16
2007 292.4 18
2008 761.4 19
2009 340.4 16
2010 322.7 4
2011 2,122.5 10
2012 2,564.2 2
2013 300.0 1
2014 23.0 1
2015 76.1 1
2016 – 1
18.10 Hydropower Market, Vietnam, Major Policies
18.10.1 Renewable Energy Development
The National Energy Development Strategy was approved in 2007 and gave priority to the development of
renewable energy. Currently, less than 3% of power generation comes from renewable sources and the strategy
aimed to increase this to 5% by 2020, 8% by 2025, and 11% by 2035. Despite little use, the country does have
good wind and biomass potential. According to the National Power Development Plan for the 2011–2020 period,
the targets for the development of wind power and biomass are:
• By 2020, the capacity of wind power will be 1,000 MW, while biomass power will be 500 MW
• By 2030, the capacity of wind power will reach 6,200 MW, with biomass power reaching 2,000 MW.
The major renewable energy policy was the Renewable Energy Action Plan, which was proposed by the MoIT in
2001 with the support of the World Bank and the EVN. This plan focused primarily on five aspects:
• Individual renewable systems for households and institutions
• Off-grid village hydro schemes
• Grid-based renewable energy schemes
• Policy and institutional capacity building
• Technology improvement and resource assessment
298
FiTs for wind and biomass power plants were announced by the government in 2014. For wind power plants,
FiTs amount to $0.068 per kilowatt hour (kWh), paid by EVN, and a further $0.01 per kWh, paid by the national
government. For biomass plants, the incentive amounts to $0.105 per kWh.
18.10.2 Revised Power Development Plan VII
The revised plan differentiated between commercial electricity, and electricity that is produced and imported as
opposed to the former version that did not. The revised plan set out objectives based on a revised estimate of 7%
GDP growth during 2016–2030. The new objectives are:
• Adequate production of electricity to meet domestic demand and meet other social development
objectives for which the targets are:
 Commercial electricity: 235 terawatt Hour (TWh)–245 TWh in 2020; 352 TWh–379 TWh in 2025;
and 506 TWh–559 TWh in 2030
 Produced and imported electricity: 265 TWh–278 TWh in 2020; 400 TWh–431 TWh in 2025; and
572 TWh–632 TWh in 2030
• Development of renewable sources of electricity (excluding hydropower of any form) to be prioritized so

as to contribute to 7% of total electricity generated in 2020, and above 10% in 2030
• Transmission and distribution infrastructure to be modernized with a target of human participation of

50% with the rest being automated
• Rural electrification program to be accelerated so that most households have electricity by the end of
2020.
299
The following table lists the share of various energy sources in the original plan versus the revised plan from
2020 to 2030.
Table 151: Share of Various Energy Sources in Installed Capacity and Electricity Generation in the Original
and Revised Power Development Plan VII (%), Vietnam, 2020–2030
Energy source Share of PDP VII PDP VII Rev.
2020 2025 2030 2020 2025 2030
Capacity 48.0 ─ 51.6 42.7 49.3 42.6
Coal
Generation 46.8 ─ 56.4 49.3 55.0 53.2
Capacity 16.5 ─ 11.8 14.9 15.6 14.7
Gas
Generation 24 ─ 14.4 16.6 19.1 16.8
Capacity 25.5 ─ 15.7 30.1 21.1 16.9
Hydropower
Generation 19.6 ─ 9.3 25.2 17.4 12.4
Capacity 1.3 ─ 6.6 ─ ─ 3.6
Nuclear
Generation 2.1 ─ 10.1 ─ ─ 5.7
Capacity 5.6 ─ 9.4 9.9 12.5 21.0
Other renewables
Generation 4.5 ─ 6.0 6.5 6.9 10.7
Capacity 3.1 ─ 4.9 2.4 1.5 1.2
Imports
Generation 3.0 ─ 3.8 2.4 1.6 1.2
Source: GlobalData; GIZ, 2016
18.10.2.1 Share of Hydropower in Revised Power Development Plan VII
The Ministry of Industry and Trade (MOIT) announced in November 2016, that it was curtailing the contribution of
hydropower in the country’s power mix. As many as 471 small and cascade hydropower plant proposals were
being axed that would have contributed to a combined installed capacity of 2,059 MW.
These proposals included eight large hydropower projects: Pa Ma, Huoi Tao, Song Giang, Duc Xuyen, Dong Nai 6,
Dong Nai 6A, Ta Lai, and Ngoc Dinh; having a combined installed capacity of 655 MW.
The remaining 463 projects having a total installed capacity of 1,404 MW were classified as small hydropower
with individual capacities not exceeding 30 MW.
Another 213 project proposals have also been rejected by the ministry based on environmental and efficiency
concerns. (Poindexter, 2016)
300
19 Hydropower Market, Middle East and Africa
19.1 Hydropower Market, Middle East and Africa, Overview
Middle Eastern and Africa countries are actively pursuing development of more hydropower resources by
construction of large dams. Concern for climate change is expected to affect the future productivity of the
hydropower generation in the region. Thus renewable energy development has a mixed market outlook in the
Middle East and Africa (MEA) region like the economies in the region themselves. While some countries are
reluctant to develop renewable energy due to abundance in conventional resources and some countries just
cannot afford to support the development of renewable energy; some countries are proactively doing the same
in order to reduce GHG emissions and appease international markets. Yet, no country in the region is in the list of
top renewable energy markets. Some African countries like Burundi, Ethiopia, Zambia, Mozambique, and Malawi
produce nearly 80% of electricity through hydro.
In 2006–2016 historic period the hydropower capacity installations increased from 29.7 GW to 45.0 GW. In 2017–
2025 forecast period the cumulative capacity is expected to increase from 48.2 GW to 80.9 GW.
301
19.2 Hydropower Market, Middle East and Africa, Installed Capacity, 2006–2025
6.7%.
The figure and table below illustrate hydropower installed capacity in the Middle East and Africa during 2006–
2025 period.
Figure 116: Hydropower Market, Middle East and Africa, Installed Capacity (GW), 2006–2025
90 12
80
10
70
Growth (%)
60 8
50
6
40
30 4
20
2
10
0 0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024

302
Table 152: Hydropower Market, Middle East and Africa, Installed Capacity (GW), 2006–2025
2006 0.9 29.7 –
2007 1.3 31.0 4.5
2008 0.2 31.3 0.8
2009 2.2 33.5 7.0
2010 0.6 34.0 1.6
2011 0.9 34.9 2.7
2012 1.4 36.3 4.0
2013 1.2 37.6 3.4
2014 0.6 38.2 1.7
2015 2.8 41.0 7.2
2016 4.0 45.0 9.8
2017 3.2 48.2 7.2
2018 4.6 52.8 9.5
2019 2.8 55.6 5.3
2020 4.6 60.2 8.4
2021 4.1 64.3 6.8
2022 3.6 67.9 5.5
2023 4.9 72.7 7.1
2024 4.0 76.7 5.5
2025 4.2 80.9 5.5
19.3 Hydropower Market, Middle East and Africa, Installed Capacity, By Type, 2006–2025
19.3.1 Hydropower Market, Middle East and Africa, Cumulative Installed Capacity, By Type, 2006–
2025
hydropower cumulative capacity increased from 0.7 GW in 2017 to 1.1 GW in 2025 at a CAGR of 5.8%.
303
The following figure and table illustrate the cumulative hydropower installed capacity in the Middle East and
Africa during the period 2006–2025.
Figure 117: Hydropower Market, Middle East and Africa, Cumulative Installed Capacity, By Type (GW), 2006–
2025
90
80
70
60
50
40
30
20
10
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014

304
Table 153: Hydropower Market, Middle East and Africa, Cumulative Installed Capacity, By Type (GW), 2006–
2025
2006 27.2 0.5 2.0
2007 28.5 0.5 2.0
2008 28.8 0.5 2.0
2009 30.9 0.5 2.0
2010 31.5 0.5 2.0
2011 32.4 0.5 2.0
2012 33.8 0.5 2.0
2013 34.7 0.5 2.3
2014 35.1 0.5 2.6
2015 37.3 0.6 3.1
2016 39.6 0.6 4.8
2017 42.1 0.7 5.4
2018 46.3 0.7 5.7
2019 49.1 0.8 5.7
2020 53.0 0.8 6.4
2021 56.7 0.9 6.7
2022 60.2 0.9 6.7
2023 64.3 1.0 7.4
2024 67.5 1.0 8.1
2025 70.7 1.1 9.1
305
19.3.2 Hydropower Market, Middle East and Africa, Annual Installed Capacity, By Type, 2006–2025
2025, the annual installed capacity is expected to increase from 2.5 GW to 3.1 GW.
During 2017–2025, the annual installed capacity for pumped storage is expected to increase from 0.7 GW to 1.0
GW.
The following figure and table illustrate the cumulative hydro annual installed capacity in the Middle East and
Africa during the period 2006–2025.
Figure 118: Hydropower Market, Middle East and Africa, Annual Installed Capacity, By Type (GW), 2006–
2025
6.0
5.0
4.0
3.0
2.0
1.0
0.0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024

306
Table 154: Hydropower Market, Middle East and Africa, Annual Installed Capacity, By Type (GW), 2006–2025
2006 0.9 0.03 –
2007 1.3 – –
2008 0.2 0.01 –
2009 2.2 0.02 –
2010 0.5 0.02 –
2011 0.9 0.01 –
2012 1.4 0.01 –
2013 0.9 0.02 0.3
2014 0.4 0.01 0.3
2015 2.2 0.03 0.5
2016 2.3 0.1 1.7
2017 2.5 0.05 0.7
2018 4.2 0.04 0.3
2019 2.8 0.03 –
2020 3.9 0.04 0.7
2021 3.7 0.1 0.3
2022 3.5 0.1 –
2023 4.1 0.05 0.7
2024 3.3 0.05 0.7
2025 3.1 0.05 1.0
307
19.4 Hydropower Market, Middle East and Africa, Hydropower Generation, 2006–2025
Net generation for hydropower in the region increased from 96.7 TWh in 2006 to 117.5 TWh in 2016. It is expected
that generation from hydro will increase from 126.5 TWh in 2017 to 233.7 TWh in 2025, at a CAGR of 8.0%.
The following figure and table illustrate hydropower generation in the region during 2006–2025 period.
Figure 119: Hydropower Market, Middle East and Africa, Hydropower Generation (TWh), 2006–2025
250
200
Generation (TWh)
150
100
50
0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
308
Table 155: Hydropower Market, Middle East and Africa, Hydropower Generation (TWh), 2006–2025
2006 96.7
2007 98.1
2008 85.4
2009 89.7
2010 102.9
2011 106.8
2012 107.4
2013 113.8
2014 112.8
2015 113.6
2016 117.5
2017 126.5
2018 134.5
2019 140.5
2020 151.2
2021 163.3
2022 181.2
2023 200.1
2024 215.7
2025 233.7
309
19.4.1 Hydropower Market, Middle East and Africa, Hydropower Generation, By Type, 2006–2025
The following figure and table illustrate the hydropower generation in the Middle East and Africa during 2006–
2025 period.
Figure 120: Hydropower Market, Middle East and Africa, Hydropower Generation (TWh), By Type, 2006–
2025
250
200
150
100
50
0
2023
2025
2008
2011
2007
2022
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
310
Table 156: Hydropower Market, Middle East and Africa, Hydropower Generation (TWh), By Type, 2006–2025
2006 95.7 1.0
2007 97.0 1.1
2008 84.3 1.1
2009 88.5 1.2
2010 101.7 1.2
2011 105.5 1.3
2012 106.1 1.3
2013 112.4 1.3
2014 111.5 1.3
2015 112.2 1.4
2016 115.9 1.6
2017 124.8 1.7
2018 132.7 1.8
2019 138.6 1.9
2020 149.2 2.0
2021 161.2 2.1
2022 178.9 2.3
2023 197.7 2.4
2024 213.3 2.4
2025 231.2 2.5
311
19.5 Hydropower Market, Middle East and Africa, Market Size ($bn), 2006–2025
2017–2025, it is expected to increase from $7.0 billion to $10.1 billion.
The following figure and table illustrate the hydropower market size in the region during the period 2006–2025.
Figure 121: Hydropower Market, Middle East and Africa, Market Size ($bn), 2006–2025
12
10
8
Market size ($bn)
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
312
Table 157: Hydropower Market, Middle East and Africa, Market Size ($bn), 2006–2025
Year Market Size
2006 1.1
2007 2.3
2008 0.3
2009 6.1
2010 1.1
2011 1.3
2012 2.1
2013 2.3
2014 0.9
2015 5.9
2016 7.3
2017 7.0
2018 10.3
2019 5.6
2020 10.4
2021 9.2
2022 7.8
2023 11.3
2024 9.6
2025 10.1
313
20 Hydropower Market, Iran
20.1 Hydropower Market, Iran, Overview
Iran is endowed with large crude oil and natural gas reserves, so in the total energy mix oil and natural gas have
the majority of the share. Hydropower in 2016 accounted for around 1% of the share of the total energy mix.
Power generation from most of the country’s hydropower plants has either completely stopped or diminished by
a great margin, with high temperatures increasing power consumption in combination with the prolonged
drought having a direct impact on the country’s hydropower market. However, the Iranian government has now
intended to move toward balancing the energy mix by increasing renewable energy in the total energy demand.
In 2013 Iranian government also came up with the Renewable Energy Development Fund. The funds collected
under this program have been used for the financing and maintenance of the rural electricity grid and for the
development of the new renewable energy capacity in the country.
Iran has strong capabilities to design, build, and operate dams and hydropower plants, and has demonstrated an
increasing focus on its hydropower projects. This provides an opportunity to diversify the country’s energy
production, as well as enabling generation from an emission-free source. Iran’s installed capacity from
hydropower has increased rapidly in the past decade, and this is expected to continue in the future, albeit at a
slower rate.
314
20.2 Hydropower Market, Iran, Installed Capacity, 2006–2025
The hydropower installed capacity in the country increased from 6.6 GW in 2006 to 13.4 GW in 2016 at a CAGR of
7.4%. During 2017–2025, the cumulative capacity installations are expected to increase from 14.2 GW to 21.0 GW
at a CAGR of 5.0%.
During 2016–2025, the net capacity additions are expected to decline from 1.8 GW to 0.7 GW. It is expected that
Figure 122: Hydropower Market, Iran, Installed Capacity (GW), 2006–2025

25 18
16
20
14
12
15
Growth (%)
10
8
10
6
4
5
0 0
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
315
Table 158: Hydropower Market, Iran, Installed Capacity (GW), 2006–2025

2006 1.0 6.6 –
2007 0.9 7.4 12.9
2008 0.3 7.7 3.4
2009 0.0 7.7 0.4
2010 0.3 8.0 3.5
2011 0.8 8.7 9.6
2012 1.0 9.7 11.4
2013 0.5 10.3 5.3
2014 0.5 10.8 5.1
2015 0.9 11.6 7.9
2016 1.8 13.4 15.3
2017 0.8 14.2 6.2
2018 0.9 15.1 6.1
2019 0.9 16.0 6.0
2020 0.9 16.9 5.7
2021 0.9 17.8 5.3
2022 0.9 18.7 4.9
2023 0.8 19.5 4.4
2024 0.8 20.3 4.0
2025 0.7 21.0 3.5
20.3 Hydropower Market, Iran, Installed Capacity, By Type, 2006–2025
20.3.1 Hydropower Market, Iran, Cumulative Installed Capacity, By Type, 2006–2025
Large hydro installed capacity increased from 6.5 GW in 2006 to 11.3 GW in 2016 at a CAGR of 5.7%. During 2017–
2025, the installed capacity is expected to increase from 12.1 GW to 18.8 GW at a CAGR of 5.7%.
No capacity additions were witnessed in pumped storage during 2006–2012 period. New capacity additions were
recorded from 2013 onward and it is expected that in 2025 around 2.0 GW capacity will be installed.
The small hydro installed capacity remained consistent from 2006–2016. During 2017–2025, the cumulative
capacity is expected to increase from 0.1 GW to 0.2 GW at a CAGR of 6.7%.
316
period 2006–2025
Figure 123: Hydropower Market, Iran, Cumulative Installed Capacity (GW), By Type, 2006–2025
25
20
15
10
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
317
Table 159: Hydropower Market, Iran, Cumulative Installed Capacity (GW), By Type, 2006–2025
2006 6.5 0.1 –
2007 7.3 0.1 –
2008 7.6 0.1 –
2009 7.6 0.1 –
2010 7.9 0.1 –
2011 8.6 0.1 –
2012 9.6 0.1 –
2013 9.9 0.1 0.3
2014 10.2 0.1 0.5
2015 10.5 0.1 1.0
2016 11.3 0.1 2.0
2017 12.1 0.1 2.0
2018 12.9 0.1 2.0
2019 13.8 0.1 2.0
2020 14.7 0.2 2.0
2021 15.6 0.2 2.0
2022 16.5 0.2 2.0
2023 17.3 0.2 2.0
2024 18.1 0.2 2.0
2025 18.8 0.2 2.0
20.3.2 Hydropower Market, Iran, Annual Installed Capacity, By Type, 2006–2025
Large hydro annual installed capacity declined from 1.0 GW in 2006 to 0.8 GW in 2016. During 2017–2025, the
capacity is expected to decrease from 0.8 GW to 0.7 GW.
No annual capacity additions were witnessed for pumped storage segment during 2006–2012 period. New
capacity additions were recorded from 2013 onward and no further capacity additions are expected during 2017–
2025 period.
Small hydro annual installed capacity declined from 0.02 GW in 2006 to 0.01 GW in 2016. The annual installed
capacity is expected to remain as 0.01 GW by 2025.
318
2006–2025.
Figure 124: Hydropower Market, Iran, Annual Installed Capacity (GW), By Type 2006–2025
2.0
1.8
1.6
1.4
1.2
1.0
0.8
0.6
0.4
0.2
0.0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014

319
Table 160: Hydropower Market, Iran, Annual Installed Capacity (GW), By Type 2006–2025
2006 1.0 0.02 –
2007 0.9 – –
2008 0.3 – –
2009 0.0 0.01 –
2010 0.3 – –
2011 0.8 – –
2012 1.0 – –
2013 0.3 – 0.3
2014 0.3 – 0.3
2015 0.3 – 0.5
2016 0.8 0.01 1.0
2017 0.8 0.01 –
2018 0.9 0.01 –
2019 0.9 0.01 –
2020 0.9 0.01 –
2021 0.9 0.01 –
2022 0.9 0.01 –
2023 0.8 0.01 –
2024 0.8 0.01 –
2025 0.7 0.01 –
320
20.4 Hydropower Market, Iran, Hydropower Generation, 2006–2025
Net generation for hydropower declined from 18.1 TWh in 2006 to 16.9 TWh in 2016. During 2017–2025
generation from hydro is expected to increase from 18.5 TWh to 31.9 TWh.
The following figure and table illustrate the hydropower generation in Iran during 2006–2025 period.
Figure 125: Hydropower Market, Iran, Hydropower Generation (TWh), 2006–2025

35
30
25
Generation (TWh)
20
15
10
0
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2007
2022
2010
2018
2017
2014
321
Table 161: Hydropower Market, Iran, Hydropower Generation (TWh), 2006–2025

2006 18.1
2007 17.9
2008 5.0
2009 7.1
2010 9.4
2011 12.0
2012 12.4
2013 14.8
2014 14.5
2015 14.7
2016 16.9
2017 18.5
2018 20.1
2019 21.8
2020 22.8
2021 25.3
2022 27.0
2023 28.7
2024 30.3
2025 31.9
20.4.1 Hydropower Market, Iran, Hydropower Generation, By Type, 2006–2025
Generation from large hydropower and pumped storage declined from 17.7 TWh in 2006 to 16.6 TWh in 2016.
The generation through small hydro remains consistent at 0.3 TWh during 2006–2016 period. It is expected to
increase from 0.4 TWh in 2017 to 0.6 TWh in 2025 at a CAGR of 6.0%.
322
Figure 126: Hydropower Market, Iran, Hydropower Generation (TWh), By Type, 2006–2025
35
30
25
20
15
10
2023
2025
2008
2011
2022
2007
2018
2006
2010
2017
2021
2009
2014
2016
2013
2020
2015
2019
2012
2024
323
Table 162: Hydropower Market, Iran, Hydropower Generation (TWh), By Type, 2006–2025
2006 17.7 0.3
2007 17.6 0.3
2008 4.7 0.3
2009 6.8 0.3
2010 9.1 0.3
2011 11.7 0.3
2012 12.1 0.3
2013 14.5 0.3
2014 14.2 0.3
2015 14.4 0.3
2016 16.6 0.3
2017 18.1 0.4
2018 19.7 0.4
2019 21.4 0.4
2020 22.3 0.5
2021 24.8 0.5
2022 26.5 0.5
2023 28.2 0.5
2024 29.8 0.6
2025 31.3 0.6
324
20.5 Hydropower Market, Iran, Market Size ($bn), 2006–2025
Market size of hydropower increased from $1.1 billion in 2006 to $1.9 billion in 2016. During 2017–2025, the
market size is expected to reduce from $0.9 billion to $0.7 billion.
Figure 127: Hydropower Market, Iran, Market Size ($bn), 2006–2025

2.5
2.0
Market size ($bn)
1.5
1.0
0.5
-
2006
2021
2009
2016
2013
2020
2015
2019
2012
2024
2023
2025
2008
2011
2022
2007
2010
2018
2017
2014
325
Table 163: Hydropower Market, Iran, Market Size ($bn), 2006–2025

Year Market Size
2006 1.1
2007 0.9
2008 0.3
2009 0.03
2010 0.3
2011 0.8
2012 1.1
2013 0.6
2014 0.6
2015 0.9
2016 1.9
2017 0.9
2018 0.9
2019 1.0
2020 1.0
2021 1.0
2022 0.9
2023 0.9
2024 0.8
2025 0.7
20.6 Hydropower Market, Iran, Major Active Plants, 2015
The following table illustrates the major active hydropower plants in Iran in 2015.
Table 164: Hydropower Market, Iran, Major Upcoming Plants, 2015

Seymareh Seymareh 480 Iran Water and Power Resources Development Company 2015
Azad Kumassi 10 Farab Co. 2015
326
20.7 Hydropower Market, Iran, Major Upcoming Plants, 2017–2023
The following table illustrates the major upcoming hydropower plants in Iran during 2017–2023 period.
Table 165: Hydropower Market, Iran, Major Upcoming Plants, 2017–2023

Capacity Year
(MW) Online
Iran Water and Power Resources Development Under
Bakhtiary Bakhtiary 1500 –
Company Construction
Iran Water and Power Resources Development
Qezel ozan Qezel ozan 1055 Announced –
Company
Karun 2 Karun 712 Announced 2023
Company
Khersan II Khersan 580 Announced 2018
Company
Azad PSP Azad 510 –
Ghezel Iran Water and Power Resources Development
Namhil 496 Announced –
Ozan Company
Zalaki Ab-e-Zalaki 466 Announced 2017
Company
Roudbar-E- Iran Water and Power Resources Development Under
Roudbar 450 2017
Lorestan Company Construction
Khersan III Khersan 400 2018
Khersan I Khersan 390 Announced 2018
Company
327
20.8 Hydropower Market, Iran, Investment Trends, 2016
20.8.1 Hydropower Market, Iran, Deal Volume vs. Deal Value, 2006–2016
1 deal was completed in hydropower sector in the country in 2016 and it was partnership. 1 deal completed in
2009 and it was valued at $399.5m.
Figure 128: Hydropower Market, Iran, Deal Volume vs. Deal Value ($m), 2006–2016
450 1
400
1
350
300 1
Number of deals
Deal value ($m)
250
1
200
150 0
100
0
50
0 0
2006
2009
2016
2013
2015
2012
2008
2011
2007
2010
2014

328
Table 166:Hydropower Market, Iran, Deal Volume vs. Deal Value ($m), 2006–2016
2006 – –
2007 – –
2008 – –
2009 399.5 1
2010 – –
2011 – –
2012 – –
2013 – –
2014 – –
2015 – –
2016 – 1
20.9 Hydropower Market, Iran, Major Policies
20.9.1 Renewable Power Policy
The lifting of sanctions on Iran is expected to benefit its renewable power sector as much as with other sectors.
The government has set a target of 5 GW from wind and solar power, by 2018, of which 500 MW has been
earmarked for solar power (Clover and Neidlein, 2014). The program began in January 2014.
A number of leading renewable power companies – including wind turbine manufacturers, such as German
turbine maker, Nordex, and Denmark’s Vestas Wind Systems – have expressed interest in investing in Iran,
pending the lifting of sanctions.
The renewable power sector of Iran is regulated by the Renewable Energy Organization of Iran, also known as
Sazman'e Energihaie Noe Iran (SUNA). The Iranian government first announced a FiT to encourage investment in
the renewable energy sector in November 2008. Until 2014, these FiTs – which were not differentiated on the
basis of energy source, but on the time of production in a day – were available for a period of five years. In 2015,
the rates were changed and classified on the basis of energy source. The FiTs as of 2017 are listed in the
following table.
329
Table 167: Renewable Energy Policy, Iran, Feed-in Tariffs for Renewable Energy Sources, 2017
Energy source Type IRR per kWh $ per kWh
Landfill 2,700 0.083
Biomass Digestion 3,500 0.108
Incineration 3,700 0.114
>50 MW 3,400 0.105
Wind ≤50 MW 4,200 0.129
≤1 MW 5,700 0.176
Geothermal – 4,900 0.151
Waste recycling Industrial processes 2,900 0.089
Installation on rivers 2,100 0.064
Small hydropower
Installation on pipelines 1,500 0.046
Source: GlobalData; SUNA, 2017
kW: kilowatt; MW: Megawatt
Note: Conversion rates as on January 23, 2017; Source: XE.com
The payment period for all energy sources is 20 years. The rate of payment for all sources, except wind, is
multipliable by a factor of 0.7 after price adjustment. For wind farms, if a capacity factor lower than 20% is
recorded, in the first decade of operation, the price adjustment factor in the second decade will be 1 – while for a
capacity factor of greater than 40%, in the first decade of operation, the factor for the following decade is set at
0.4. For capacity factors between 20% and 40%, adjustment factors have been accordingly graded. A 15% bonus
payment is available to any renewable power producer using domestically sourced materials. Feed-in Tariffs
(FiT) are due to be progressively lowered as renewable power capacity increases in the country (SUNA, 2015).
330
21 Appendix
21.1 Abbreviations
Table 168: Abbreviations

AD Accelerated Depreciation
ANEEL Agencia Nacional de Energia Eletrica
ARRA The American Recovery and Reinvestment Act
CAD Canadian Dollar
CAGR Compound Annual Growth Rate
CFE Commission Federal De Electricidad
CRE Energy Regulatory Commission (Comisión Reguladora de Energía)
CRE The Energy Regulatory Commission
CSP Concentrated Solar Power
CTF Clean Technology Fund
EBRD European Bank for Reconstruction and Development
EPAct Energy Policy Act
FERC Federal Energy Regulatory Commission
FITs Feed-in tariffs
FY Fiscal Year
GEF Global Environment Fund
GDP Gross Domestic Product
GHG Greenhouse Gas
GW Gigawatt
IAP International Action Program
IBRD International Bank for Reconstruction and Development
IEA International Energy Agency
IFC International Finance Corporation
INR Indian Rupees
INDC Intended Nationally Determined Contributions
JPY Japanese Yen
kV kilovolt
kW kilowatt
kWh kilowatt hour
LAFRE Law for the Use of Renewable Sources of Energy
LDP Liberal Democratic Party
MEA Middle East and Africa
MNRE Ministry of New and Renewable Energy
NREAP National Renewable Energy Action Plan
UNFCCC United Nations Framework Convention on Climate Change
RPS Renewable Portfolio Standards
SCA South and Central America
UN United Nations
331
21.2 Definitions
21.2.1 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.
21.2.2 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 MW on a nameplate physically
fixed on the generator.
21.2.3 Active Installed Capacity
Active installed capacity refers to that component of electric power that actually performs work. It is given in kW
or MW.
21.2.4 Electricity Generation
Producing electric energy by transforming other forms of energy. Also refers to the amount of electric energy
produced, expressed in Gigawatt hours (GWh).
21.2.5 Electricity Consumption
Electricity consumption is a sum of electricity generated, plus imports, minus exports, minus transmission and
distribution losses and measured in GWh.
21.2.6 Hydropower Plant
A plant in which the turbine generators are driven by falling water.
21.2.7 Renewable Energy Resources
Naturally replenishing energy resources limited in the amount of energy that is available per unit of time. For
example, biomass, geothermal, solar, small hydro, and wind can all be termed renewable resources.
332
21.3 Bibliography
• ChinaFAQs (2014). What Are China’s National Climate and Energy Targets? Network for Climate and
Energy Information. Available from: http://www.chinafaqs.org/files/chinainfo/ChinaFAQs_
table_China_climate_energy_targets_0.pdf
• Clover and Neidlein (2014). Available from https://1host2u.com/?ez=8797 [Accessed on May 8, 2014]
• DSIRE (2016). Policies and Incentives by State. Database of State Incentives for Renewables & Efficiency.
Available from: http://www.dsireusa.org/ [Accessed on March 1, 2016]
• IEA (2015). Policies and Measures. International Energy Agency. Available from:
http://www.iea.org/policiesandmeasures/pams/russia/ [Accessed on January 6, 2016]
• IHA (2016a) International Hydro Association. Available from: http://www.hydropower.org/2016-

hydropower-status-report?utm_source=eshot&utm_medium=email&utm_campaign=201605:
pressreleaseon2016HydropowerStatusReport
• IHA (2016b) International Hydro Association. Available from: http://www.hydropower.org/2016-

hydropower-status-report?utm_source=eshot&utm_medium=email&utm_campaign=201605:
pressreleaseon2016HydropowerStatusReport
• SUNA (2015). New Feed in Tariffs announced. Renewable Energy Organization of Iran. Available from:
http://www.iran-wind.com/en/iran-feed-in-tariffs-until-mars-2016/ [Accessed on January 13, 2016]
• Verge (2016). Ambitious Plan to Boost Renewable Energy Production. Available from:
http://www.theverge.com/2016/6/29/12059044/clean-energy-plan-announced-us-canada-mexico-
leaders-summit [Accessed August 21, 2016]
333
21.4 Methodology
GlobalData’s dedicated research and analysis teams consist of experienced professionals with expertise in
marketing, market research, consulting background in the energy industry and advanced statistical expertise.
GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.US) and the Society
of Competitive Intelligence Professionals (www.scip.org).
All GlobalData databases are continuously updated and revised. The following research methodology is followed
for all databases and reports.
The research process begins with extensive secondary research using GlobalData’s proprietary databases and
external sources.
Policies, incentives, and targets published by governments through official websites, press releases, and
statements are researched extensively.
21.5 Contact Us
If you have any queries about this report or would like further information, please contact us:
North America: +1 646 395 5460
Europe: +44 20 7406 6789
+44 1204 543 523
Asia-Pacific: +91 40 6616 6700
E-mail: info@globaldata.com
21.6 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.
The facts of this report are believed to be correct at the time of publication but cannot be guaranteed. Please
note that the findings, conclusions, and recommendations that GlobalData delivers will be based on information
gathered in good faith from both primary and secondary sources, whose accuracy we are not always in a
position to guarantee. As such GlobalData can accept no liability whatsoever for actions taken based on any
information that may subsequently prove to be incorrect.
334

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Report Code: GDAE1204MAR

Published: March 2017 Power

Published: March 2017 Power

5.3 Hydropower Market, North America, Installed Capacity, By Type, 2006–2025........................................... 49

Published: March 2017 Power

Published: March 2017 Power

9.4 Hydropower Market, Brazil, Hydropower Generation, 2006–2025 ............................................................... 126

Published: March 2017 Power

11.10.3 Tax Exemptions for Small Scale Hydropower Plants................................................................................ 169

Published: March 2017 Power

Published: March 2017 Power

Published: March 2017 Power

Published: March 2017 Power

20.4.1 Hydropower Market, Iran, Hydropower Generation, By Type, 2006–2025 ..........................................322

Published: March 2017 Power

1.1 List of Tables

Published: March 2017 Power

Published: March 2017 Power

Table 100: Renewable Energy Capacity Tenders, Russia ............................................................................................ 209

Published: March 2017 Power

1.2 List of Figures

Published: March 2017 Power

Published: March 2017 Power

Published: March 2017 Power

Published: March 2017 Power

2.1 Commitments Made at COP22 to Boost Hydropower Capacity Additions

Published: March 2017 Power

Small hydro, 11.6

Pumped storage, 12.6

Large hydro, 75.8

Source: GlobalData Power Database [Accessed on January 31, 2017]

2.3 Asia-Pacific Region Contributed Substantial Hydropower Capacity Additions in 2016

Published: March 2017 Power

North America, 1.6

Middle East and Africa,

South and Central

Source: GlobalData Power Database [Accessed on January 31, 2017]

Published: March 2017 Power

Figure 3: Hydropower Market, Key Countries, Installed Capacity (GW), 2016

Annual installed (GW)

Table 1: Hydropower Market, Key Countries, Installed Capacity (GW), 2016

Published: March 2017 Power

2.5 Global Hydropower Investment is Set to Reach $86.2 billion by 2025

Figure 4: Hydropower Market, Global, Market Size, 2010–2025

Published: March 2017 Power

• Low-head high-storage hydropower project

• High-head low-storage hydropower project

• Run-of-the-river hydropower project

• Pumped storage hydropower project

Published: March 2017 Power

Figure 5: Hydropower Market, Global, Value Chain

Pre-construction Component Project Grid Operations &

•Feasibility Studies •Hydro Turbines •Dam

3.1 GlobalData Report Guidance

Published: March 2017 Power

Published: March 2017 Power

Published: March 2017 Power

4 Hydropower Market, Global

4.1 Hydropower Market, Global, Overview

Published: March 2017 Power

4.2 Hydropower Market, Global, Installed Capacity, 2006–2025

Published: March 2017 Power