Angola Harnesses Solar Power for Rural Areas

Jul 3, 2023 02:05 PM ET
  • Angola is set to develop photovoltaic electricity networks for rural areas with a EUR 1.3bn Standard Chartered Plc loan, bringing renewable energy to 203,000 households in 60 communities. Supported by German Export Credit Agency Euler Hermes, this project is a major step towards Angola's renewable energy transformation.
Angola Harnesses Solar Power for Rural Areas

Angola has secured a EUR 1.3bn loan from Standard Chartered Plc to build photovoltaic electricity networks for rural areas across the country. The project is set to provide renewable energy to 203,000 households in 60 communities and expand the national grid in Malanje. The loan is backed by German Export Credit Agency Euler Hermes, while the remainder is a commercial loan, and is being developed by the Ministry of Energy and Water with MCA Group responsible for construction and project management. This will be a significant step towards the renewable energy transformation of Angola.

What Impact Will Angola's Renewable Energy Project Have?

  • The project is expected to reduce Angola’s reliance on fossil fuels and contribute to a reduction in greenhouse gas emissions.
  • The renewable energy project will create jobs in the construction, engineering, and maintenance sectors of the economy.
  • The new photovoltaic electricity networks will improve access to energy and enhance the quality of life for thousands of households.
  • The project will also increase the reliability and efficiency of the national grid by providing additional capacity.
  • The loan is the largest of its kind for an African country, and it is hoped that it will serve as a model for other African countries to follow in their renewable energy transitions.
  • The project is also expected to reduce electricity costs in the long term and promote economic development in rural areas.
  • It is hoped that the project will encourage private investment in renewable energy, and create a more sustainable energy future for Angola and the region.
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