Masdar has signed agreements with three countries — Angola, Uganda, and Zambia — to develop renewable energy projects with a combined capacity of up to 5 GW.
The agreements were signed under the umbrella of the Etihad 7 initiative, a UAE-led initiative that aims to raise public- and private-sector funds to invest in the development of Africa’s renewable energy sector. Etihad 7 was launched by HE Sheikh Shakhboot Nahyan Al Nahyan, Minister of State in the UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC) with the aim of achieving 20-GW capacity to supply 100 million people across the continent with clean electricity by 2035.
The project includes:
- An agreement with Angola’s Ministry of Energy and Water for the development of renewable energy projects with a total capacity of 2 GW.
- An agreement with Uganda’s Ministry of Energy and Mineral Development for the development of greenfield renewable projects with a total installed capacity of 1 GW.
- An agreement with Zambia’s Ministry of Energy, and Zambian national utility ZESCO Limited for the joint development of develop solar, wind, and hydroelectricity projects with a total capacity of 2 GW.
According to the International Renewable Energy Agency, less than half of the Sub-Saharan African population has access to electricity. Africa also generates just 20% of its electricity from renewable sources. The continent has a theoretical potential capacity of approximately 850 terawatts of solar and wind, according to a report from McKinsey & Company.
Masdar has already established a considerable presence in Africa, having formed its Infinity Power Holding joint venture with Egypt’s Infinity to target opportunities on the continent. In November, Masdar, Infinity Power, and Hassan Allam Utilities signed an agreement with the Government of Egypt to develop a 10-GW onshore wind project — one of the largest wind farms in the world. The three companies are also cooperating on the development of green hydrogen projects in Egypt, targeting a combined electrolyzer capacity of 4 GW by 2030, and an output of up to 480,000 tonnes of green hydrogen per year. Masdar also has projects in Mauritania, Morocco, and the Seychelles.
Masdar, also known as the Abu Dhabi Future Energy Company, is a UAE-government owned renewable energy company based in Abu Dhabi. Masdar is a subsidiary of Mubadala Development Company and was founded by the UAE government in 2006.
