Masdar has signed agreements with three African countries to develop renewable energy projects with a combined installed capacity of up to 5 GW. This reaffirms the company's commitment to helping Africa transition to clean energy. As part of the agreement signed under the Etihad7 initiative, Masdar will develop renewable energy projects with a capacity of 2 GW in Angola, Uganda and Zambia, Masdar said in a statement.

Etihad7 is a UAE-led initiative to mobilize public and private sector funds to invest in the development of the renewable energy sector in Africa. Launched at Abu Dhabi Sustainability Week in 2022 by Sheikh Shakhboot Nahyan Al Nahyan, Minister of State at the UAE Ministry of Foreign Affairs and International Cooperation, the initiative aims to achieve 20 gigawatts of installed capacity to provide electricity to 100 million people around the world by 2035.

These landmark agreements aim to deliver up to 5 GW of energy to Angola, Uganda and Zambia, following the signing of an agreement for 2 GW of renewable energy projects in Tanzania by 2022, said UAE Minister of Industry Dr. Sultan Al Jaber Advanced Technology and Chairman Masdar.

These further agreements will be transformative for local communities and will help African countries drive economic growth for their people while still achieving net zero emissions targets. Dr Sultan is also Chairman-elect of Cop28 and Managing Director and Group Chief Executive Officer of Adnoc.

Masdar is currently active in more than 40 countries and has invested or committed to invest in projects worth more than US$30 billion. The company continues to expand its clean energy portfolio, setting an ambitious goal to increase its global renewable energy capacity to at least 100 GW by 2030. The lion's share of this capacity will come from wind and solar technologies.

In addition to the original goal, Masdar also seeks to develop more than 200 GW of renewable energy. Mohamed Al Ramahi, CEO of Masdar, said that with Africa's projected massive development and growth and the current low penetration of clean energy, we see great potential in the renewable energy sector across the continent.

The agreements we signed at Abu Dhabi Sustainability Week will support the countries' clean energy goals and help drive sustainable economic development in all four countries.

Masdar already has a sizeable presence in Africa, forming the Infinity Power Holding joint venture with Egypt's Infinity to scout opportunities on the continent. In November, Masdar, Infinity Power and Hassan Al lam Utilities signed an agreement with the Egyptian government to develop a 10 GW onshore wind project - one of the largest in the world.

The three companies are also cooperating in the development of green hydrogen projects in Egypt, with the goal of reaching a total capacity of 4 gigawatts of electrolyzers by 2030 and an annual output of up to 480,000 tons of green hydrogen. Masdar also has projects in Mauritania, Morocco and Seychelles.Editor/XingWentao