Masdar, an energy company located in the UAE, has inked agreements for the development of renewable energy projects with Angola, Uganda, and Zambia, with a total combined capacity of 5 GW. The agreements were inked as part of the Etihad VII initiative, a global development fund founded by the UAE with the goal of providing clean electricity to 100 million people in Africa by 2035.
In order to support the growth of Africa’s renewable energy sector, Etihad VII aims to raise funds from both the public and private sectors. The development of renewable energy projects with a combined capacity of 2 GW was the basis of one of Masdar’s agreements with Angola’s Ministry of Energy and Water. Furthermore, Masdar committed to co-developing 1 GW of greenfield renewable power with Uganda’s Ministry of Energy and Mineral Development. The company also partnered with Zambia’s Ministry of Energy and Zambian national utility ZESCO to jointly develop solar, wind and hydroelectricity projects with a total capacity of 2 GW. All three agreements were signed at Abu Dhabi Sustainability Week (ADSW) conference.
Earlier this month, Masdar inked agreements with the State Oil Company of the Republic of Azerbaijan (SOCAR) to develop 4 GW of wind and solar power capacity integrated with green hydrogen projects. The agreements were inked on the sidelines of Abu Dhabi Sustainability Week, a worldwide platform to accelerate sustainable development organised by Masdar.