Mozambique Unveils $80 Billion Energy Transition Plan: A Road-map to Renewable Growth
Mozambique has greenlit an ambitious energy transition plan aimed at attracting approximately $80 billion in investments by 2050. The plan, set to be officially presented by President Filipe Nyusi at the COP28 climate summit in Dubai on December 2, focuses on expanding renewable energy capacity and enhancing electricity accessibility.
Key initiatives between 2023 and 2030 include the addition of 2,000 megawatts of hydropower capacity through the upgrade of existing plants and the completion of the Mphanda Nkuwa Hydropower Project. The plan also involves the expansion of the national electricity grid and a shift to electric vehicles to mitigate emissions from the transportation sector.
Pedro Simao, special adviser to the energy minister, stated, "We are still fine-tuning the document and hope to publicly release it later this week." The Mozambique Council of Ministers approved the document on November 21.
Having exported its first liquefied natural gas in November 2022, Mozambique aims to leverage significant gas discoveries and renewable energy potential to stimulate economic growth and alleviate poverty.
As African nations prepare for COP28, there is a collective call for enhanced climate financing to support renewable energy projects on the continent. Despite contributing only 4 per cent of global carbon emissions (1.45 billion tonnes) with a population share of about 17 per cent, Africa faces climate challenges, evident in events like Cyclone Freddy, which devastated Mozambique and Malawi earlier this year, claiming over 500 lives and displacing thousands.
