These two projects are part of Masdar’s plans to develop 2GW of renewable capacity in Angola and 1GW of capacity in Uganda. Masdar and financier Africa50 are also “exploring a collaboration” to build floating PV projects in Mozambique.
“Masdar’s growth plans will help unlock Africa’s clean energy potential and further advance its energy transition,” said Masdar CEO Mohamed Jameel Al Ramahi. “This follows Masdar’s landmark commitment to mobilize US$10 billion in finance and 10GW of capacity for clean energy in Africa by the year 2030.”
The funding is part of the UAE’s Africa Green Investment Initiative, a US$4.5 billion plan to support a number of infrastructure projects across Africa through private and public funding and development capital.
Masdar has made a number of other energy investments in Africa, including signing a memorandum of understanding to develop 500MW of renewable capacity in the Republic of Congo, and the new projects will join the company’s growing African portfolio, which already includes the 1.8GW Benban solar project in Egypt, the fourth-largest in the world by capacity.
The news follows a number of deals made by Masdar in the opening days of COP28, including an agreement with French developer EDF to build a 3.6GW renewable energy portfolio in the Kyrgyz Republic.
Source link : https://www.pv-tech.org/uae-to-develop-10gw-of-renewable-capacity-in-africa-including-300mw-of-solar/
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Publish date : 2023-12-08 08:00:00
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