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UAE’s global clean energy giant signs agreements for projects totaling 5 GW Angola, Ugandaand zambia
Agreement signed under Etihad 7 – UAE-initiated global development fund to provide clean electricity to 100 million people on the continent by 2035
Abu DhabiUnited Arab Emirates, January 20, 2023 /PRNewswire/ – Masdar signs agreements with three countries at Abu Dhabi Sustainability Week (ADSW) 2023, demonstrating its commitment to helping African countries achieve clean energy transition – Angola, Uganda and zambia – Development of renewable energy projects with a total capacity of up to 5 gigawatts (GW).
The agreements were signed within the framework of the Etihad 7 initiative, a UAE-led initiative to mobilize public and private sector funds to invest in development African renewable energy sector. Launched at ADSW 2022 by His Excellency Sheikh Shakhboot Nahyan Al Nahyan, Minister of State at the UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC), Etihad 7 aims to achieve 20 GW of capacity and provide clean electricity to 100 million people across the continent by 2035.
His Excellency Sheikh Shakhboot Nahyan Al Nahyan, Minister of State, UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC)said, “The UAE and African countries strongly believe in the great potential that clean energy offers Africa Unlock economic and climate action progress.That’s why the UAE launched Etihad 7 at ADSW last year, a program dedicated to accelerating clean energy adoption Africa Provide clean energy to 100 million people by 2035. The agreement signed this week at ADSW 2023 is a testament to the tremendous traction we have gained over the past year and the milestones we have achieved together. “
Dr. He sultan arjaberUAE Minister of Industry and Advanced Technology, COP28 President-elect and Chairman of Masdarsaid: “The UAE is committed to promoting sustainable development in the global South – especially our brotherly countries Africa. These Landmark Agreements Aim to Deliver Up to 5 GW of Energy Angola, Ugandaand zambiafollowing the signing of an agreement for 2 GW of renewable energy projects last year Tanzania. These further agreements will be transformative for local communities and will help African countries drive economic growth for their people while still achieving net zero emissions targets. “
The Etihad 7 umbrella agreements signed at ADSW 2023 include:
with agreement AngolaMinistry of Energy and Water for the development of renewable energy projects with a total capacity of 2 GW.
with agreement UgandaThe Ministry of Energy and Mineral Development is used to develop greenfield renewable energy projects with a total installed capacity of 1 GW.
with agreement zambiaThe Ministry of Energy and Zambia’s national utility ZESCO Limited jointly develop solar, wind and hydropower projects with a combined installed capacity of 2 GW.
he Joao Baptista Borgesminister of energy and water resources of the republic Angolasaid, “Today’s new agreement with the government of up to 2GW Angola and Masdar take another step towards a clean and affordable energy transition. The project will increase production capacity, create jobs and improve access to electricity for the people of Angola. We look forward to strengthening the development and partnership between our two countries.
HE Ruth Nankabirwa Ssentamu, Minister of Energy and Mineral Development of the Republic UgandaSaid, “The government Uganda Delighted about the partnership with Masdar which will increase 1 GW of renewable energy to Ugandan generating capacity. This will go a long way toward achieving our universal access and energy transition goals. We look forward to developing this project within the agreed time frame. “
Eng, Victor Benjamin Mapani, Managing Director of ZESCO said: “This historic signing between Masdar and ZESCO is a milestone in the agreement to develop solar power projects with a total capacity of 2 GW in phases over the next 10 years. ZESCO as well as zambia In general, the development of clean energy complementary to hydropower is a top priority for energy security. We can rest assured that we have found the right partner with Masdar and can say that we are well positioned to deliver mutually beneficial value through this partnership. “
Mohammad Jameel Al RamahhiMasdar CEO said, “As part of the new shareholding structure launched by Masdar last December, we aim to provide 100 GW of clean energy globally by 2030. With African With the large-scale projected development and growth coupled with the current low level of clean energy penetration, we see great potential in the renewable energy sector across the continent. The agreements we signed at Abu Dhabi Sustainability Week will support the countries’ clean energy goals and help drive sustainable economic development in all four countries. “
Last August, Masdar also signed an agreement with the sole power supplier, TANESCO Tanzania, to develop renewable energy projects with a total capacity of up to 2 GW, also under the Etihad 7 scheme. The two parties are finalizing the establishment of a joint venture company to advance this strategic cooperation.
According to the International Renewable Energy Agency (IRENA), less than half of the population in sub-Saharan Africa has access to electricity. Africa Only 20% of its electricity comes from renewable sources, too. According to a report produced last year by Masdar and Abu Dhabi Sustainability Week with analytical support provided by McKinsey & Company, the theoretical potential capacity of solar and wind power on the continent is around 850 terawatts (TW).
Masdar is already in AfricaJoint venture with Infinity Power Holding Egyptian Unlimited opportunities to target the African continent. In November, Masdar, Infinity Power and Hassan Allam Utilities signed an agreement with the government Egypt Development of a 10 GW onshore wind project – one of the largest wind farms in the world.The three companies are also collaborating on green hydrogen projects Egypt, aiming to have a total electrolyser capacity of 4 GW by 2030, producing up to 480,000 tons of green hydrogen per year.Masdar also has a project Mauritania, moroccoand Seychelles.
Contact:
For more information, please visit: http://www.masdar.ae And connect: facebook.com/masdar.ae and twitter.com/masdar
About Masdar
Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy champion and one of the largest companies of its kind in the world, is committed to advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges . Founded in 2006, Masdar is now active in more than 40 countries, helping them achieve their clean energy goals and drive sustainable development. Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala) and Abu Dhabi National Energy Company (TAQA), and under this ownership, the company aims to own at least RM100 watts of renewable energy portfolio capacity (GW), and annual green hydrogen production capacity of 1 million tons by 2030.
About Abu Dhabi Sustainability Week
Abu Dhabi Sustainability Week (ADSW) is a global initiative launched in 2008 by the UAE and its clean energy powerhouse Masdar. For 15 years, ADSW has brought together Heads of State, policymakers, industry leaders, investors, entrepreneurs and youth to discuss, engage and debate climate action and innovation to ensure a sustainable world.ADSW 2023 aims to play a key role in driving momentum between the two by catalyzing influential dialogue and providing a platform to translate promises into tangible results for a net-zero future COP27 and COP28.
SOURCE Masdar
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