During the COP28 Summit in Dubai, renewable energy company Masdar inked an agreement with Angola’s Ministry of Energy and Water for the development of a 150 MW solar photovoltaic (PV) plant in southern Angola. This solar facility aims to supply renewable energy to approximately 90,000 homes and is anticipated to generate up to 600 jobs. The agreement was signed by Angola’s Minister of Energy and Water, João Baptista Borges, and Masdar CEO, Mohamed Jameel Al Ramahi.
The Quipundo region in Huíla Province will host the ground-mounted solar PV plant, with an expected annual reduction of up to 224,000 tons of CO2 emissions upon completion. The initiative aligns with Masdar’s commitment to invest $2 billion in equity and $8 billion in project finance to develop 10 GW of renewable energy projects across Africa by 2030.
At COP28, the President of COP28, Dr. Sultan Al Jaber, emphasized Africa’s potential to emerge as a global renewable energy leader, pledging continued collaboration for a just energy transition. The UAE, according to Dr. Sultan Al Jaber, stands with Africa in striving for a meaningful energy transition at COP28 and beyond.
