UAE’s Masdar 10GW Growth Plan Is A Boon For Africa

 

Masdar, a renewable energy company owned by the United Arab Emirates government, has unveiled a 10-gigawatt expansion initiative for the African continent. This ambitious plan is poised to catalyze the energy transition in six Sub-Saharan nations.

Abu Dhabi Future Energy Company PJSC, operating under the name Masdar, is committed to fostering the development of clean energy initiatives throughout Africa.

The 10-gigawatt growth initiative aligns with the Africa Green Industrialization Initiative, a program designed to stimulate the growth of environmentally sustainable industries across the region.

Launched on December 2, the Africa Green Industrialization Initiative (AGII) aims to expedite the advancement of green industries and businesses throughout the African continent.

The United Arab Emirates has continuously extended assistance to Africa in its energy-related undertakings. Furthermore, the UAE has promised to support clean energy projects in Kenya, Angola, Burundi, Djibouti, Ghana, Ivory Coast, Mauritania, Nigeria, Senegal, and Zambia, among other African nations.

Africa has 850 terawatts of solar and wind power capacity, which is a significant renewable energy resource. According to a paper published by McKinsey & Company, Abu Dhabi Sustainability Week, Masdar, and others, Africa may account for 10% of the world market for green hydrogen.

Unlocking Africa's clean energy potential is the mission of Masdar, the Abu Dhabi Future Energy Company. Masdar wants to help Africa advance in its energy transformation by means of its growth goals.

Masdar's CEO, Mohamed Jameel Al Ramahi, announced that the company would raise $10 billion in funding for Africa in order to promote the continent's emerging technology, business models, green and renewable energy initiatives, and innovations.

With Masdar's pledge to raise a total of $10 billion in investments, Africa will have 10GW of sustainable energy capacity by 2030.

"As the largest pure-play renewable energy company on the continent, we are proud of our long-term partnerships," stated Mohamed Jameel Al Ramahi. We are eager to collaborate with Africa and build a significant pipeline of sustainable energy projects.