Mozambique fine tunes new $80 bln energy transition blueprint

Credit: REUTERS/EDUARDO MUNOZ

CAPE TOWN, Nov 27 (Reuters) - Mozambique has approved an ambitious new energy transition plan until 2050, hoping to attract investments of some $80 billion to boost renewable energy capacity and increase electricity availability, a senior energy official said on Monday.

Mozambican President Filipe Nyusi is expected to officially present the energy strategy to international partners and potential donors on Dec. 2 during the COP 28 climate summit in Dubai.

Priority plans between next year and 2030 include adding 2,000 megawatts of new hydropower capacity by upgrading existing plants and completing the new Mphanda Nkuwa hydro project, expanding the national electricity grid and switching to electric vehicles to reduce emissions from the transport sector.

"We are still fine tuning the document and hope to publicly release it later this week," Pedro Simao, special advisor to the minister of energy, told Reuters on Monday.

The document was approved by Mozambique's Council of Ministers on Nov. 21.

The southern African country exported its first liquefied natural gas in November, 2022 and is hoping huge gas discoveries, together with its renewable energy potential, will propel economic growth and help lift millions out of poverty.

(Reporting by Wendell Roelf; Editing by Sharon Singleton)

((wendell.roelf@thomsonreuters.com; +27 21 461 3523;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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