Dubai – WAM
Abu Dhabi Future Energy Company “Masdar” announced its plans to develop renewable energy projects with a capacity of 10 gigawatts in 6 countries in sub-Saharan Africa, which represents an accelerated expansion in the activities of the leading Emirati company in the field of clean energy, and supports efforts to transition towards clean energy throughout the continent. .
This announcement came during the Conference of the Parties currently being held in the UAE, and within the framework of supporting the Green Manufacturing in Africa Initiative that was launched during (COP28), which aims to accelerate and expand the scope of green industries and companies throughout the continent.
According to a specialized report issued last year by Masdar and Abu Dhabi Sustainability Week, with analytical support from McKinsey & Company, the continent of Africa theoretically possesses a capacity estimated at about 850 terawatts of solar and wind energy, and could occupy up to 10% of the market. Global green hydrogen.
Mohammed Jameel Al Ramahi, CEO of Masdar, said: Masdar’s growth plans will contribute to optimally exploiting Africa’s clean energy potential and enhancing transformation efforts in the energy sector. This comes on the heels of Masdar’s commitment to raise and catalyze financing of US$10 billion to provide 10 GW of clean energy in Africa by 2030. As the largest developer of renewable energy projects on the continent, Masdar is proud of its strong and established partnerships with many African companies, and looks forward to Developing an important group of clean energy projects with the support and cooperation of all partners on the continent.
Masdar, one of the fastest-growing clean energy companies in the world and the largest in Africa, is committed to allocating $2 billion, in addition to raising and stimulating $8 billion to provide 10 gigawatts of clean energy on the African continent by 2030, within the framework of the Green Investment Finance Initiative in Africa, which Led by the UAE, which was announced by Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, President of the Conference of the Parties COP28, and Chairman of the Board of Directors of Masdar, during the African Climate Summit.
Masdar had announced the signing of partnership agreements with entities from the government and private sectors in six African countries, which included the signing of a concession agreement with the Ministry of Energy and Water in the Republic of Angola to develop a solar photovoltaic project with a capacity of 150 MW in the Kibungo region, as part of the first phase of cooperation between the two countries. The Emirati and Angolan governments to develop renewable energy projects with a capacity of 2 gigawatts, which is the first renewable energy project to be developed within the framework of strategic cooperation between the two countries.
During the COP28 conference, Robina Nabanga, Prime Minister of the Republic of Uganda, announced an agreement between Masdar and the Ugandan Ministry of Energy and Mineral Development to implement a solar photovoltaic energy project with a capacity of 150 megawatts, within the framework of the first phase of cooperation between the two parties to develop projects with a capacity of 1 gigawatt.
While MW Energy, a subsidiary of Masdar, signed a memorandum of understanding with the Africa 50 Fund and the Congolese Ministry of Energy and Water to develop renewable energy projects with a capacity of 500 megawatts in the country.
During the Green Manufacturing Initiative held within (COP28), Kenyan President William Ruto announced the cooperation of the Kenyan Geothermal Energy Development Company and Indonesia’s Pertamina Geothermal Energy to develop a geothermal energy project in Kenya. It is noteworthy that Masdar is investing in Pertamina Geothermal Energy, which will contribute to supporting Kenya’s increased production of geothermal energy.
Infinity Power, the joint venture between Masdar and Infiniti, and the largest renewable energy company in Africa, announced the signing of a memorandum of understanding with the Ministry of Energy and Mineral Resources in Mozambique, with the aim of exploring opportunities to develop renewable energy projects in the country with a capacity of up to 1 gigawatt. It is expected that these projects will contribute to providing 400,000 families with electricity, and avoid the release of 3.8 million tons of carbon emissions, over a period of 20 years. In parallel, Masdar and Infinity Power are exploring the possibility of collaborating with the Africa 50 Fund in developing floating solar photovoltaic projects in Mozambique.
While “Masdar” will cooperate with “ZESCO” and “International Resource Holdings”, a subsidiary of the International Holding Company, within projects to reduce carbon emissions of mining operations in Zambia. Masdar will explore ways to establish renewable energy projects to supply the mines of International Resource Holdings with green electricity.
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