[ad_1]
ABU DHABI, 10th March, 2023 (WAM) — Masdar has announced the signing of an agreement with the Ministry of Mines, Petroleum and Energy of the Republic of Côte d’Ivoire to explore and develop a capacity of up to 70 megawatts (MW).
The agreement was signed in the presence of Tiémoko Meyliet Kone, Vice-President of the Republic of Côte d’Ivoire; Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State; and Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technologies, President-elect of COP28 and Chairman of Masdar.
The signatories were Mamadou Sangafowa Coulibaly, Ivorian Minister of Mines, Petroleum and Energy, and Fawaz Al Muharrami, executive director of Masdar Clean Energy.
Coulibaly said, “Ivory Coast has committed under the climate change agreement to reduce its greenhouse gas emissions by 32% by 2030 and increase the share of renewable energy in its energy mix to 45%. “Ivory Coast has drawn up a master plan for the development of its production facilities, which includes solar, hydropower and biomass.
The framework agreement we have just signed with Masdar, and the first 50 to 70 MW project, will help to achieve this ambitious goal, in addition to other initiatives being undertaken by the Ivorian government.
Mohamed Jameel Al Ramahi, CEO of Masdar, said: “As part of Masdar’s new shareholding structure launched last December, we aim to provide 100GW of clean energy globally by 2030. With the large-scale projected development in Africa and Given current levels of clean energy penetration, we see enormous potential in the renewable energy sector across the continent. This agreement will support Côte d’Ivoire’s clean energy goals and help drive sustainable economic development in the country.”
The agreements were signed within the framework of the Etihad 7 programme, a UAE-led initiative to mobilize public and private sector funds to invest in the development of Africa’s renewable energy sector to achieve a 20 gigawatt (GW) Supply capacity By 2035, 100 million people across the continent will have access to clean electricity.
Under the agreement, Masdar and Côte d’Ivoire’s Ministry of Mines, Petroleum and Energy will explore joint development of solar photovoltaic plants in Côte d’Ivoire, starting with a first 50 to 70 megawatt (MW) plant. The plant will support the Republic of Côte d’Ivoire’s goal of deriving 42 percent of its energy mix from renewable sources by 2030.
With the signing of Côte d’Ivoire, five Etihad 7 projects have now been agreed, with three more projects signed at ADSW 2023. Reached an agreement with the Ministry of Energy and Mineral Development of Uganda on the development of greenfield renewable energy projects with a total installed capacity of 1GW; Reached an agreement with the Ministry of Energy of Zambia and Zambia’s national utility company ZESCO Limited on the joint development of solar, wind and hydropower projects with a capacity of 2GW .
Last August, Masdar also signed an agreement with Tanzania’s sole electricity provider, TANESCO, to develop renewable energy projects with a capacity of up to 2GW under the Etihad 7 scheme. In addition, 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 also gets only 20% of its electricity from renewable sources. According to a report published last year by Masdar and Abu Dhabi Sustainability Week, with analytical support provided by McKinsey & Company, the continent’s theoretical potential solar and wind capacity is around 850 terawatts (TW).
Masdar already has a considerable presence in Africa, forming the Infinity Power Holding joint venture with Egypt’s Infinity to seek opportunities on the continent. In November, Masdar, Infinity Power and Hassan Allam Utilities signed an agreement with the Egyptian government to develop a 10 GW onshore wind project – one of the largest in the world.
The three companies are also cooperating in the development of green hydrogen projects in Egypt, with the goal of reaching a total capacity of 4GW of electrolyzers by 2030 and an annual output of 480,000 tons of green hydrogen. Masdar also has projects in Mauritania, Morocco and Seychelles.
[ad_2]
Source link