ABU DHABI, 10th March, 2023 (WAM) — Masdar has announced the signing of an agreement with the Ministry of Mining, Petroleum and Energy for the Republic of Côte d’Ivoire to explore the development of a solar power plant with a capacity of up to 70 megawatts (MW).
The agreement was signed in the presence of Tiémoko Meyliet Koné, Vice President of the Republic of Côte d’Ivoire; Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State; and Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, COP28 President-Designate and Chairman of Masdar.
The signatories were Mamadou Sangafowa Coulibaly, the Ivorian Minister of Mining, Petroleum and Energy, and Fawaz Al Muharrami, Executive Director of Clean Energy, Masdar.
Coulibaly said, “Côte d’Ivoire has committed under climate change agreements to reduce its greenhouse gas emissions by 32 percent and to increase the share of renewable energies in its energy mix to 45 percent by 2030. In accordance with its commitments, Côte d’Ivoire has drawn up a master plan for the development of its production facilities, which integrates solar, hydroelectricity and biomass.
The framework agreement that we have just signed with Masdar, accompanied by a first project of 50 to 70 MW, will contribute, in addition to the other initiatives that the Ivorian government is undertaking, to achieving this ambitious objective.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, “As part of Masdar’s new shareholding structure launched in December, we have a goal of delivering 100GW of clean energy around the world by 2030. With Africa’s massive projected development and growth and low current clean energy penetration levels, we see enormous potential for the renewable energy sector across the continent. This agreement will support Côte d’Ivoire’s clean energy goals and help to drive sustainable economic development for the nation.”
The agreements were signed under the umbrella of the Etihad 7 initiative, a UAE-led programme that aims to raise public- and private-sector funds to invest in the development of Africa’s renewable energy sector, to achieve 20 gigawatts (GW) capacity to supply 100 million people across the continent with clean electricity by 2035.
As per the agreement, Masdar and the Ivorian Ministry of Mining, Petroleum and Energy will explore the joint development of solar photovoltaic plants in Côte d’Ivoire, starting with a first 50 to 70-megawatt (MW) plant. The plant would support the Republic of Côte d’Ivoire’s goal of 42 percent of its energy mix coming from renewable sources by 2030.
With the Côte d’Ivoire signing, five Etihad 7 projects are now under agreement, with three others signed at ADSW 2023. These include an agreement with Angola’s Ministry of Energy and Water for the development of renewable energy projects with a total capacity of 2GW; an agreement with Uganda’s Ministry of Energy and Mineral Development for the development of greenfield renewable projects with a total installed capacity of 1GW; and an agreement with Zambia’s Ministry of Energy, and Zambian national utility ZESCO Limited for the joint development of solar, wind, and hydroelectricity projects with a capacity of 2GW.
Last August, Masdar also signed an agreement with TANESCO, the sole electricity provider in Tanzania, to develop renewable energy projects with a capacity of up to 2GW, under the umbrella of the Etihad 7 programme. In addition, the two parties are finalising establishing a joint venture company to advance this strategic collaboration.
According to the International Renewable Energy Agency (IRENA), less than half of the Sub-Saharan African population has access to electricity. Africa also generates just 20 percent of its electricity from renewable sources. The continent has a theoretical potential capacity of approximately 850 terawatts (TW) of solar and wind, according to a report produced last year by Masdar and Abu Dhabi Sustainability Week with analytical support provided by McKinsey & Company.
Masdar has already established a considerable presence in Africa, having formed its Infinity Power Holding joint venture with Egypt’s Infinity to target opportunities on the continent. In November, Masdar, Infinity Power and Hassan Allam Utilities signed an agreement with the Government of Egypt to develop a 10 GW onshore wind project – one of the largest wind farms in the world.
The three companies are also cooperating on developing green hydrogen projects in Egypt, targeting a combined electrolyser capacity of 4GW by 2030 and an output of up to 480,000 tonnes of green hydrogen per year. Masdar also has projects in Mauritania, Morocco, and Seychelles.