Masdar to develop 150-MW solar project in Angola

Abu Dhabi Future Energy Company PJSC, better known as Masdar, has clinched a deal with Angola's Ministry of Energy and Water to install a 150-MW solar park that will help increase the electrification rate in the South African country.

The UAE-based renewables major sealed the agreement on Friday, during the COP28 climate summit in Dubai. The pact is aligned with Masdar’s commitment to just energy transition in Africa and follows its earlier pledge to invest USD 2 billion (EUR 1.84bn) in equity and USD 8 billion in project finance to deliver 10 GW of clean energy capacity in Africa by 2030.

Under the new project, Masdar intends to build a photovoltaic (PV) park in southern Angola, expecting it to generate electricity for roughly 90,000 homes annually. The plant will be located in the Quipungo region of Hulia province, which benefits from strong solar irradiation levels but is suffering from insufficient access to reliable electricity, according to Masdar.

The project is expected to open up to 600 jobs during the construction phase and will help boost the national electrification rate in Angola to around 60 percent by 2025.

In Africa, Masdar already has developments in Angola, Egypt, Mauritania, Morocco, Seychelles, Tanzania, Uganda and Zambia. In January, the UAE group unveiled plans to add 5 GW of renewable energy capacity across Angola, Uganda and Zambia.

(USD 1.0 = EUR 0.920)

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