Masdar to develop 5 GW of renewable energy projects

Masdar is an Abu Dhabi-based renewable energy corporation controlled by the United Arab Emirates government. The company aims to deliver 100 GW of clean energy globally by 2030. At Abu Dhabi Sustainability Week (ADSW) 2023, the company signed agreements with Angola, Uganda, and Zambia to develop renewable energy projects with a total capacity of up to 5 gigawatts. These agreements demonstrate the company's commitment to assisting African nations in their clean energy transition.

The agreements were signed as part of the Etihad 7 project, an initiative led by the UAE to secure public and private finance for the expansion of the renewable energy sector in Africa. The signed agreements include 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; and an agreement with Zambia's Ministry of Energy and Zambia's national utility, ZESCO Limited, for the joint development of solar, wind, and hydroelectric projects with a total capacity of 2 GW.

These projects will increase energy production capacity, job generation, and electricity accessibility. In addition to being transformative for local communities, they will aid African governments in promoting energy security and economic progress for their citizens while still achieving their net-zero goals.