A leading renewable energy firm, Abu Dhabi Future Energy Company PJSC – Masdar, has shared plans for the development of a significant 150 MW solar PV project in Angola. The initiative will provide renewable energy to 90,000 homes. In its wake, it will also pave the path for multiple jobs while also giving an impetus to economic growth and curbing carbon emissions.
Masdar has entered into a concession agreement with the Ministry of Energy and Water of Angola for the construction and operation of the ground-mounted solar power project that will come up the Quipungo region, Hulia province, southern Angola.
Lack of access to energy is a major impediment in the way of the development of Africa. The challenge is pronounced in Africa with just half the population having access to electricity. An even smaller chunk has access to electricity in rural area. Angola has set sights on augmenting national electrification rate to around 60 percent by 2025.
Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President, remarked, “Africa has what it takes to become the world’s renewable energy powerhouse. At COP28 and beyond, we will continue to work with Africa for Africa. The UAE stands shoulder-to-shoulder with our friends in Africa as we strive to secure a just energy transition at this COP of action and COP for all.”
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, stated, “Masdar is the largest renewables energy company in Africa, through our platform Infinity Power. To accelerate a just energy transition, Masdar recently joined forces with Africa50, a pan-African infrastructure investment platform. Our mission is to fast-track and scale projects so we can deliver 10 GW of clean energy in Africa by 2030. Masdar is an anchor partner of the UAE-led Africa Green Investment Initiative and has committed to mobilize US$10 billion in clean energy finance, of which US$2 billion will be generated from equity with an additional US$8 billion from project finance.”
Huila, where the project will be established, will help with the displacement of more than 224,000 tonnes of carbon emissions annually. Additionally, in the phase of construction, 600 jobs will also be created.
Masdar aspires to develop 5 GW of renewable energy projects across Angola, Uganda and Zambia. It has also partnered with Ethiopia for the development of a 500 MW solar project in the African country.