Masdar advances 10 GW Africa growth plan

According to research launched last year by Masdar, Abu Dhabi Sustainability Week and McKinsey & Company, Africa has a theoretical potential clean energy capacity of 850 terawatts in solar and wind alone and could capture as much as 10% of the global green hydrogen market. These agreements support the development of clean energy portfolios across several markets in Africa, helping to unlock that potential and deliver improved levels of energy security to its population.

Mohamed Jameel Al Ramahi, CEO of Masdar, said: "Masdar's growth plans will help unlock Africa's clean energy potential and further advance its energy transition. This follows Masdar's landmark commitment to mobilise US$10 billion in finance and 10 GW of capacity for clean energy in Africa by the year 2030. As the largest pure-play renewable energy company on the continent, we are proud of our long-term partnerships, and we look forward to developing an important pipeline of clean energy projects, working for Africa, with Africa."

At COP28, Masdar announced partnership agreements with both governments and private entities in six African countries:

• Angola – Masdar and the Republic of Angola's Ministry of Energy and Water signed a Concession Agreement for the first 150 MWac solar PV project in Quipungo under Phase I of the 2 GW renewable energy collaboration between the governments of the UAE and the Republic of Angola – the first renewable energy project under the strategic G2G collaboration between the two countries.
• Uganda – The Prime Minister of Uganda, Her Excellency Robinah Nabbanja, announced at COP28 that Masdar and Uganda's Ministry of Energy and Mineral Development had signed a Roadmap Agreement for the implementation of a 150 MW Solar PV project under Phase I of a 1 GW collaboration between the two nations.
• The Republic of Congo – MW Energy, a Masdar subsidiary, Africa50 and the Ministry of Energy & Hydraulics of the Republic of Congo signed a Memorandum of Understanding (MoU) to develop 500 MW of renewable energy capacity in the country.
• Kenya – During the Green Industrialisation Initiative convened at COP28, Kenya's President, William Ruto, announced that Geothermal Development Company of Kenya and Pertamina Geothermal Energy (PGE) of Indonesia, are to collaborate on geothermal energy development in Kenya – Masdar is proud to support the expansion of geothermal energy capacity in the East African nation through its investment in PGE.
• Mozambique – Infinity Power, a Masdar Infinity company, the largest pure-play renewable energy company in Africa, has announced the signing of a MoU with Mozambique's Ministry of Energy and Mineral Resources. This agreement aims to explore potential opportunities for up to 1 GW of renewable projects in Mozambique.
• Zambia – Masdar, ZESCO and International Resource Holdings, an affiliate of International Holding Company, to collaborate in the Zambian market through the decarbonisation of mining operations in the country. Masdar will look to supply green electricity from renewable energy projects to power IRH mines.

Masdar has committed to deploying US$2 billion of equity by 2030 in Africa as part of the UAE-led Africa Green Investment finance Initiative, which was announced during the Africa Climate Summit by HE Dr Sultan Al Jaber, Chairman of Masdar and COP28 President. Masdar's commitment aims to mobilise a total of US$10 billion in investments to deliver 10 GW of clean energy capacity in Africa by 2030.

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/08122023/masdar-advances-10-gw-africa-growth-plan/