UAE state-owned renewable energy company Masdar has signed a number of agreements to develop new renewables projects in Africa, including 300MW of new solar capacity in Angola and Uganda.
The company announced the deals during the COP28 conference, held in Dubai, which are part of Masdar’s plans to develop 10GW of new renewable capacity in Africa. The projects are headlined by a 150MWac solar project in Quipungo, south-west Angola, for which the company has signed a concession agreement with the Angolan energy ministry; and a 150MW project in Uganda, for which Masdar has signed a roadmap agreement with the Ugandan government.
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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.