The clean energy company Masdar has signed an agreement with the Ministry of Mines, Petroleum and Energy of the Republic of Côte d’Ivoire to explore the development of a solar power plant with a capacity of up to 70 MW. This agreement is part of the Etihad 7 initiative, launched by the UAE to invest in the development of the renewable energy sector in Africa, with the aim of reaching a supply capacity of 20 GW and providing clean electricity to 100 million people on the continent by 2035.
Côte d’Ivoire commits to renewable energy production
Côte d’Ivoire has decided to reduce its greenhouse gas emissions by 32% and to increase the share of renewable energy in its energy mix to 45% by 2030, in line with its commitments under the climate change agreements. With this in mind, it has drawn up a master plan for the development of its production facilities that integrates solar, hydroelectric and biomass energy. The framework agreement signed with Masdar for the 70 MW solar power plant will contribute to achieving this ambitious goal.
Masdar, an ambitious company
With the new ownership structure launched in December, Masdar aims to provide 100 GW of clean energy worldwide by 2030. The company sees huge potential for the renewable energy sector across Africa, with massive development and growth expected on the continent and current low levels of clean energy penetration. The agreement with Côte d’Ivoire supports the country’s clean energy goals and will help spur sustainable economic development in the nation.
Several Etihad 7 agreements signed
With the signing of Côte d’Ivoire, five Etihad 7 projects are now under agreement, and three more were signed at ADSW 2023. These include: an agreement with the Angolan Ministry of Energy and Water for the development of renewable energy projects with a total capacity of 2 GW; an agreement with the Ugandan Ministry of Energy and Mining Development for the development of new renewable energy projects with a total installed capacity of 1 GW; and an agreement with the Zambian Ministry of Energy and Zambia’s national power company ZESCO Limited for the joint development of solar, wind and hydro projects with a total capacity of 2 GW.
Untapped potential for renewable energy in sub-Saharan Africa
According to the International Renewable Energy Agency (IRENA), less than half of the population of sub-Saharan Africa has access to electricity, and only 20% of the electricity produced comes from renewable sources. Yet the continent has considerable theoretical solar and wind energy potential, estimated at 850 terawatts (TW) according to a report produced by Masdar and Abu Dhabi Sustainability Week with analytical support from McKinsey & Company.
