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Mozambique has approved a ground-breaking energy transition plan that would last until 2050, with an estimated $80 billion in investments.
The comprehensive strategy intends to move the country toward a more sustainable future by increasing renewable energy capabilities and ensuring greater access to power.
On December 2nd, President Filipe Nyusi will publicly unveil the ambitious energy plan to the international community during the COP28 climate summit in Dubai. The plan, which was approved by Mozambique’s Council of Ministers on November 21, includes key projects that will take place between 2023 and 2030.
The plan’s key components include a 2,000 megawatt increase in hydropower capacity achieved through modifications to existing facilities and the completion of the Mphanda Nkuwa Hydropower Project. Furthermore, the policy prioritizes the expansion of the national electrical infrastructure as well as a considerable shift to electric vehicles in order to reduce emissions in the transportation sector.
Mozambique, which will enter the liquefied natural gas market in November 2022, believes that significant gas finds, combined with the untapped potential of renewable energy, would act as economic growth accelerators. The implementation of this energy transition strategy is consistent with the country’s larger goals of driving development and pulling millions out of poverty.
