Issued by: Edelman
Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy leader, is implementing a 10GW expansion plan across six sub-Saharan countries to facilitate the continent’s transition to clean energy.
The announcements were made during the United Nations Climate Change Summit (COP28) currently taking place in the UAE, and will support the recently launched Africa Green Industrialisation Initiative to expand green industries in the region.
According to a study published last year by Masdar, Abu Dhabi Sustainability Week, and McKinsey & Company, Africa has a theoretical clean energy capacity of 850 terawatts in solar and wind alone, and could capture up to 10 per cent of the global green hydrogen market. These agreements support the development of clean energy portfolios in multiple markets across Africa, helping to unlock this potential and provide greater energy security for its people.
Mohamed Jameel Al Ramahi, chief executive officer of Masdar, said: “Masdar’s growth plans will help unlock Africa’s clean energy potential and further drive its energy transition. This follows Masdar’s landmark commitment to mobilise US$10 billion in financing and 10GW of clean energy capacity in Africa by 2030. As the largest dedicated renewable energy company on the continent, we are proud of our long-term partnerships and look forward to developing a significant pipeline of clean energy projects, working for Africa, with Africa.”
At COP28, Masdar announced partnership agreements with governments and private entities in six African countries:
- Angola: Masdar and the Ministry of Energy and Water of the Republic of Angola signed a concession agreement for the first 150MWac solar project in Quipungo, as part of Phase I of the 2GW renewable energy collaboration between the governments of the UAE and the Republic of Angola
- Uganda: The prime minister of Uganda, Robinah Nabbanja, announced at COP28 that Masdar and Uganda’s Ministry of Energy and Mineral Development had signed a roadmap agreement to implement a 150MW solar PV project as part of Phase I of a 1GW collaboration between the two countries
- Republic of Congo: MW Energy, a Masdar subsidiary, Africa50, and the Ministry of Energy and Hydraulics of the Republic of Congo signed a memorandum of understanding to develop 500MW of renewable energy capacity in the country
- Kenya: During the Green Industrialisation Initiative at COP28, Kenya’s President William Ruto announced that Kenya’s Geothermal Development Company and Indonesia’s Pertamina Geothermal Energy will work together to develop geothermal energy in Kenya. Masdar is proud to support the expansion of geothermal energy capacity in the East African country through its investment in PGE
- Mozambique: Infinity Power, a company of Masdar Infinity, the largest dedicated renewable energy company in Africa, announced the signing of a memorandum of understanding (MoU) with the Ministry of Energy and Mineral Resources of Mozambique. The agreement aims to explore potential opportunities for up to 1GW of renewable energy projects in Mozambique. The projects initiated through this collaboration have the potential to provide Mozambique with enough energy to power 400,000 homes and offset 3.8 million tonnes of carbon emissions over their 20-year lifecycle. Masdar and Infinity, through their joint venture Infinity Power, are also exploring collaboration with Africa50 on floating solar photovoltaic (PV) projects in Mozambique
- Zambia: Masdar, ZESCO, Zambia’s public utility, and International Resource Holdings, a subsidiary of International Holding Company, will work together in Zambia to decarbonise the country’s mining sector. Masdar will seek to supply green electricity from renewable energy projects to power IRH’s mines.
Masdar has committed to deploy $2bn of equity in Africa by 2030 as part of the UAE-led Africa Green Investment Finance Initiative, announced at the Africa Climate Summit by Sultan Ahmed Al Jaber, Chairman of Masdar and President of COP28. Masdar’s commitment aims to mobilise a total of $10bn in investment to deliver 10GW of clean energy capacity in Africa by 2030.
About Masdar
Abu Dhabi Future Energy Company (Masdar) is the UAE’s clean energy champion and one of the world’s fastest growing companies, driving the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges. Founded in 2006, Masdar has developed projects in more than 40 countries, helping them meet their clean energy goals and drive sustainable development. Jointly owned by the Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala) and the Abu Dhabi National Energy Company (TAQA), Masdar aims to achieve a renewable energy portfolio capacity of at least 100 gigawatts (GW) by 2030 and an annual green hydrogen production capacity of up to 1 million tonnes by the same year.
About Infinity Power
Infinity Power is Africa’s largest dedicated renewable energy company. A joint venture between Egypt’s Infinity and Masdar (Abu Dhabi Future Energy Company), Infinity Power targets power generation projects in Africa using renewable energy sources, primarily solar and wind, as well as other technologies such as green hydrogen and water desalination. The company is also developing complementary technologies such as battery storage and transmission networks. In this way, Infinity Power can provide answers to the challenges of energy supply and energy insecurity across the African continent. The company aims to have 10GW of renewable energy projects in operation by 2030.
Infinity Power combines the strong track records of both Infinity and Masdar (Abu Dhabi Future Energy Company) in developing and operating renewable energy assets. It has an extensive operating portfolio in Egypt, South Africa and Senegal, including 1.3GW of solar power and onshore wind farms, representing a reduction of approximately 3.5 million tonnes of CO2 emissions per year compared to conventional power generation.
Infinity Power is committed to lighting up Africa and supporting the sustainable development of renewable energy across the continent, while creating opportunities for economic, educational and environmental benefits for local communities.
