Angola to Inject $500 Million into Renewable Energy Sector
In a bid to drive the proliferation of renewable energies and boost electricity access rates in rural communities, Angola’s Ministry of Energy and Water announced the installation of over 300 MW of solar power in 2020.
H.E. Minister of Energy and Water João Baptista Borges made the announcement on the sidelines of the 33rd African Union Summit, held in Addis Ababa.
Solar farms will be constructed in Benguela, Luena (Moxico province), Saurimo (Lunda Sul), Dundo (Lunda Norte) and Bailundo (Huambo). The cost of the project is estimated at $500 million, with a projected time frame of two years.
The construction of solar farms falls in line with the Angola Energy 2025 Vision, which centers on the creation of added power generation and distribution capabilities, buttressed by private sector investment in new renewables.
Returning for its second year, the Angola Oil & Gas Conference & Exhibition will be hosted in June 16-17, 2020 in Luanda, and will focus on an international investment drive aimed at bringing new deals and signing new entrants into Angola’s oil and gas sector.