Masdar, also known as the Abu Dhabi Future Energy Company, revealed its intention to construct a 150-megawatt (MW) solar PV project in Angola. This project aims to provide renewable energy and contribute to the country’s ongoing energy transition.
On the sidelines of the UN’s climate change conference COP28, now underway in Dubai, the renewable energy company 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 enjoys strong solar irradiation levels but struggles with a lack of access to reliable electricity, the company said in a statement. It didn’t indicate the financial cost of the project.
The project will supply energy to 90,000 homes while creating hundreds of jobs, spurring economic growth, and cutting carbon emissions, Masdar said.
Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar, and COP28 President, said: “Africa has what it takes to become the world’s renewable energy powerhouse. At COP28 and beyond, we will continue to work with Africa for Africa.”
As part of the UAE-led Africa Green Investment Initiative, Masdar serves as a key partner and has pledged to activate $10 billion in clean energy finance. This commitment involves generating $2 billion from equity and securing an additional $8 billion through project finance.
Masdar, also known as the Abu Dhabi Future Energy Company, revealed its intention to construct a 150-megawatt (MW) solar PV project in Angola. This project aims to provide renewable energy and contribute to the country’s ongoing energy transition.
On the sidelines of the UN’s climate change conference COP28, now underway in Dubai, the renewable energy company 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 enjoys strong solar irradiation levels but struggles with a lack of access to reliable electricity, the company said in a statement. It didn’t indicate the financial cost of the project.
The project will supply energy to 90,000 homes while creating hundreds of jobs, spurring economic growth, and cutting carbon emissions, Masdar said.
Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar, and COP28 President, said: “Africa has what it takes to become the world’s renewable energy powerhouse. At COP28 and beyond, we will continue to work with Africa for Africa.”
As part of the UAE-led Africa Green Investment Initiative, Masdar serves as a key partner and has pledged to activate $10 billion in clean energy finance. This commitment involves generating $2 billion from equity and securing an additional $8 billion through project finance.
