UAE-based energy company Masdar has signed agreements with Angola, Uganda and Zambia for developing renewable energy projects with a combined capacity of up to 5GW.<\/p>\n
The agreements were signed under the Etihad VII initiative, a global development fund launched by the UAE to provide clean electricity to 100 million people across Africa by 2035.<\/p>\n
Etihad VII aims to raise funds from both the public and private sectors to help develop Africa\u2019s renewable energy sector.<\/p>\n
One of Masdar\u2019s agreements was signed with Angola\u2019s Ministry of Energy and Water for the development of renewable energy projects with a total capacity of 2GW.<\/p>\n
In a separate agreement with Uganda\u2019s Ministry of Energy and Mineral Development, Masdar committed to co-developing 1GW of greenfield renewable capacity.<\/p>\n
The company also partnered with Zambia\u2019s Ministry of Energy and Zambian national utility ZESCO to jointly develop solar, wind and hydroelectricity projects with a total capacity of 2GW.<\/p>\n
All three agreements were signed at this month\u2019s Abu Dhabi Sustainability Week (ADSW) conference.<\/p>\n
Masdar CEO Mohamed Jameel Al Ramahi said: \u201cAs part of Masdar\u2019s new shareholding structure launched in December, we have a goal of delivering 100GW of clean energy around the world by 2030.<\/p>\n
\u201cWith Africa\u2019s massive projected development and growth and low current clean energy penetration levels, we see enormous potential for the renewable energy sector across the continent.<\/p>\n
\u201cThe agreements we have signed at Abu Dhabi Sustainability Week will support these nations\u2019 clean energy goals and help to drive sustainable economic development for all four countries.\u201d<\/p>\n
Last week, Masdar signed agreements with the State Oil Company of the Republic of Azerbaijan (Socar) to develop 4GW of wind and solar power capacity integrated with green hydrogen projects.<\/p>\n
The projects are part of Azerbaijan\u2019s efforts to source 30% of its domestic power requirements from renewables by 2030, as well as diversify its economy and reduce its greenhouse gas emissions.<\/p>\n","protected":false},"excerpt":{"rendered":"
The company will build the projects in Angola, Uganda and Zambia under the Etihad VII initiative.<\/p>\n","protected":false},"author":12963,"featured_media":24969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,16,21],"tags":[7,26,22],"class_list":{"0":"post-24972","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-fashion","8":"category-news","9":"category-technology","10":"tag-apie-project","11":"tag-news","12":"tag-technology"},"yoast_head":"\n