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UAE government-owned renewable energy company masdar Agreements have been signed with Angola, Uganda and Zambia to develop renewable energy projects with a combined capacity of up to 5 GW to help African countries achieve their energy transition.
Three agreements were signed with these countries within the framework of the Etihad 7 initiative during Abu Dhabi Sustainability Week 2023.
The company will develop 2GW in Angola and a greenfield project in Uganda with a total installed capacity of 1GW. Masdar will also help Zambia co-develop solar, wind and hydropower projects with a total installed capacity of 2 GW.
The UAE-led Etihad 7 initiative aims to mobilize public and private sector funds to invest in developing Africa’s renewable energy sector and provide clean electricity to 100 million people across the continent by 2035.
“Both the UAE and African countries strongly believe in the enormous potential that clean energy brings to Africa to drive progress on both economics and climate action. The agreement signed this week is a testament to the enormous traction we have gained over the past year and the milestones we have achieved together ,” said Sheikh Shakhboot Nahyan Al Nahyan, Minister of State at the UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC).
According to a report published last year by Masdar and Abu Dhabi Sustainability Week, the continent has about 850 terawatts of solar and wind potential.
Yet less than half of sub-Saharan Africa’s population has access to electricity, according to the International Renewable Energy Agency. Africa also gets only 20% of its electricity from renewable sources.
Masdar already has an established 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 4 gigawatts of electrolyzers by 2030 and an annual output of 480,000 tons of green hydrogen.
Last year, the company also sign An agreement was reached with the Georgia Energy Development Fund to develop a 100 MW solar photovoltaic power generation project.
Last June, Masdar acquired ADNEC, ADNOC and Mubadala Investment Company
Chotami is a reporter for Mercom India. Prior to joining Mercom, Gautamee worked as a multimedia journalist at ThePrint in New Delhi. She holds a BA (Honours) in English and a MA in English Literature from St Stephen’s College, University of Delhi.More articles from Gautamee[ad_2]
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