Marks advancement of Masdar 10 gigawatt (GW) growth plan to unlock Africa clean energy potential

Cairo, Egypt and Abu Dhabi, UAE: Abu Dhabi Future Energy Company PJSC – Masdar advances 10GW growth plan across six Sub-Saharan nations, marking accelerated expansion for the UAE’s clean energy leader, in support of the renewable energy transition across the continent. 

The announcements were made during the United Nations Climate Change Summit taking place in the UAE, supporting the Africa Green Industrialization initiative at COP28, for an inclusive and sustainable energy transition across the continent.

Access to a reliable and quality energy supply is vital to the economic development of any country. Around 600 million people in Sub-Saharan Africa live without access to electricity, according to a 2020 World Bank report, with hundreds of millions more having only limited or unreliable electricity – despite the region’s substantial renewable energy potential.

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: “Masdar’s growth plans will help unlock Africa’s clean energy potential and further advance its energy transition. This follows Masdar’s landmark commitment to mobilize US$10 billion in finance and 10GW of capacity for clean energy in Africa by the year 2030. As the largest pure-play renewable energy company on the continent, we are proud of our long-term partnerships, and we look forward to developing an important pipeline of clean energy projects, working for Africa, with Africa.”

Masdar, one of the world’s fastest growing clean energy companies and the largest in Africa, has committed to deploying US$2 billion of equity by 2030 in Africa as part of the UAE-led Africa Green Investment finance initiative, which was announced during the Africa Climate Summit by HE Dr Sultan Al Jaber, Chairman of Masdar and COP28 President. Masdar’s commitment aims to mobilize a total of US$10 billion in investments to deliver 10GW of clean energy capacity in Africa by 2030.

At COP28, Masdar announced partnership agreements with both governments and private entities in six African countries:  

Angola – Masdar and the Republic of Angola’s Ministry of Energy and Water signed a Concession Agreement for the first 150MWac solar PV project in Quipungo under Phase I of the 2GW renewable energy collaboration between the governments of the UAE and the Republic of Angola – the first renewable energy project under the strategic G2G collaboration between the two countries. 

Uganda – The Prime Minister of Uganda, Her Excellency Robinah Nabbanja, announced at COP28 that Masdar and Uganda’s Ministry of Energy and Mineral Development had signed a Roadmap Agreement for the implementation of a 150MW Solar PV project under Phase I of a 1GW collaboration between the two nations.

The Republic of Congo – MW Energy, a Masdar subsidiary, Africa50 and the Ministry of Energy & Hydraulics of the Republic of Congo signed a Memorandum of Understanding (MoU) to develop 500MW of renewable energy capacity in the country. 

Kenya – During the Green Industrialization Initiative convened at COP28, Kenya President William Ruto announced that Geothermal Development Company of Kenya and Pertamina Geothermal Energy (PGE) of Indonesia, are to collaborate on geothermal energy development in Kenya - Masdar is proud to support the expansion of geothermal energy capacity in the East African nation through its investment in PGE.

Mozambique – Infinity Power, a Masdar Infinity company, the largest pure-play renewable energy company in Africa, has announced the signing of a Memorandum of Understanding (MoU) with Mozambique's Ministry of Energy and Mineral Resources. This agreement aims to explore potential opportunities for up to 1GW of renewable projects in Mozambique. The projects initiated through this cooperation have the potential to provide Mozambique with enough energy to power 400,000 households and will offset 3.8 million tons of carbon emissions, over its 20-year life cycle. In parallel, Masdar and Infinity are exploring a collaboration with Africa50, through their JV Infinity Power, on floating solar photovoltaic (PV) projects in Mozambique.

Zambia – Masdar, ZESCO and International Resource Holdings, an affiliate of International Holding Company, to collaborate in the Zambian market through the decarbonization of mining operations in the country. Masdar will look to supply green electricity from renewable energy projects to power IRH mines.

About Masdar
Abu Dhabi Future Energy Company (Masdar) is the UAE’s clean energy champion and one of the fastest growing companies in the world, advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges. Established in 2006, Masdar has developed projects in over 40 countries, helping them to achieve their clean energy objectives and advance sustainable development. Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala), and Abu Dhabi National Energy Company (TAQA), and under this ownership the company is targeting 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.

Contacts:
For Masdar media inquiries, please contact: press@masdar.ae
For more information please visit: http://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar

About Infinity Power 
Infinity Power is Africa’s largest pure play renewable energy provider. The joint venture between Egypt’s Infinity and Masdar (Abu Dhabi Future Energy Company) targets power generation projects in Africa through renewable energy sources, namely solar and wind, as well as other technologies such as green hydrogen and water desalination. The company also develops complementary technologies such as battery storage and transmission grids. In this way, Infinity Power can provide answers to the challenges of energy supply and power insecurity across the African continent. The company aims to have 10 GW of operational renewable energy projects by 2030.

Infinity Power brings together the strong track records of both Infinity and Masdar (Abu Dhabi Future Energy Company) in developing and operating renewable energy assets. It has a substantial operational portfolio across Egypt, South Africa and Senegal, including 1.3 GW of solar power and onshore wind farms, which equates to a reduction of approximately 3.5 million tons of CO2 emissions per year using 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 in local communities.

Infinity Power Contacts:
E-mail: marketing@weareiph.com, marketing@weareinfinity.com , engy.emad@traccs.net  
Telephone: +20 100 900 2207
For more information please visit our website and connect with us on social media: 
 
Infinity Power
Website: www.weareiph.com
Facebook: https://www.facebook.com/InfinityPowerHolding/  
LinkedIn: https://www.linkedin.com/company/infinity-power/ 

Infinity
Website: www.weareinfinity.com 
Facebook: https://www.facebook.com/InfinityRenewableEnergy
LinkedIn: https://www.linkedin.com/company/infinityrenewables/