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Abu Dhabi Future Energy Company PJSC, Masdar, has announced plans to develop a major 150 megawatt (MW) solar PV project in Angola to deliver renewable energy to 90,000 homes. This will create hundreds of jobs, apart from cutting down carbon emissions
Abu Dhabi Future Energy Company PJSC, Masdar, has announced plans to develop a major 150-megawatt (MW) solar PV project in Angola to deliver renewable energy to 90,000 homes. This will create hundreds of jobs, apart from cutting down carbon emissions.
Masdar signed a concession agreement with Angola’s Ministry of Energy and Water to build and operate the ground-mounted solar power project in the Quipungo region, Hulia province, southern Angola. The area suffers from a lack of access to reliable electricity. Energy insecurity remains one of the most significant constraints on Africa’s development. In Angola, less than half of the population has access to electricity. That proportion is further low in rural areas.
The agreement was signed by Joao Baptista Borges, Angola’s Minister of Energy and Water, and Masdar’s Chief Executive Officer, Mohamed Jameel Al Ramahi.
Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar, and COP28 President, was also present at the signing ceremony. He exhorted African countries to strive towards a just energy transition.
Masdar is the largest renewable energy company in Africa. To accelerate a just energy transition, Masdar recently joined forces with Africa50, a pan-African infrastructure investment platform. The mission aims to fast-track and scale projects to deliver 10GW 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.
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Provinces like Huila, where this solar project will be built, are highly constrained by their dependence on emissions-intensive, unreliable fuel. Once completed, the solar facility will displace over 224,000 tonnes of carbon emissions every year, the equivalent of removing 50,000 cars from the roads.
