Masdar Propels 10GW Africa Expansion Strategy to Catalyze Energy Transition Across Six Sub Saharan Nations

Masdar, a pioneering clean energy company and a key player in Africa’s renewable landscape, is driving a 10GW expansion across six Sub-Saharan nations. The move signifies a rapid stride for the UAE’s leading clean energy provider in fostering the continent’s energy transition.

These significant announcements unfolded during the United Nations Climate Change Summit (COP28) hosted in the UAE. The strategic initiatives align with the newly launched Africa Green Industrialization Initiative, designed to amplify green industries’ scale across the region.

According to Masdar’s research, Africa holds immense potential, boasting a theoretical capacity of 850 terawatts in solar and wind energy alone. Furthermore, the continent could potentially capture 10% of the global green hydrogen market. The agreements forged by Masdar aim to cultivate clean energy portfolios in various African markets, unlocking this potential and enhancing energy security for its populace.

Mohamed Jameel Al Ramahi, CEO of Masdar, underscored the company’s commitment to unleashing Africa’s clean energy potential, reiterating Masdar’s groundbreaking pledge to mobilize US$10 billion in finance and establish 10GW of clean energy capacity in Africa by 2030. He emphasized Masdar’s role as the continent’s largest pure-play renewable energy company and its dedication to fostering long-term partnerships for Africa’s sustainable development.

At COP28, Masdar solidified partnership agreements across multiple African nations:

• Angola: The signing of a Concession Agreement for a 150MWac solar PV project in Quipungo marks the initial phase of a 2GW renewable energy collaboration between the UAE and Angola.
• Uganda: A Roadmap Agreement for implementing a 150MW Solar PV project marks the commencement of a 1GW collaboration between Masdar and Uganda.
• Republic of Congo: An MoU inked by MW Energy, a Masdar subsidiary, Africa50, and the Ministry of Energy & Hydraulics targets developing 500MW of renewable energy capacity in the country.
• Kenya: Masdar’s support for geothermal energy expansion in Kenya through investments in Pertamina Geothermal Energy (PGE) aims to bolster the nation’s geothermal capacity.
• Mozambique: Infinity Power, a Masdar Infinity company, signed an MoU with Mozambique’s Ministry of Energy and Mineral Resources to explore opportunities for up to 1GW of renewable projects, envisaging significant household power and substantial carbon emission reductions.
• Zambia: Collaborating with ZESCO and International Resource Holdings, Masdar plans to facilitate the decarbonization of mining operations in Zambia through the provision of renewable energy.

Masdar’s commitment involves deploying US$2 billion of equity in Africa by 2030 as part of the UAE-led Africa Green Investment Initiative. The initiative, spearheaded by HE Dr Sultan Al Jaber, Chairman of Masdar and COP28 President, aims to mobilize a total of US$10 billion investments for achieving 10GW of clean energy capacity in Africa by 2030.