Mozambique Unveils $80 B Energy Transition Plan To Propel Green Growth

Mozambique has given green light to an energy transition plan set to transform its energy landscape until 2050, with the aim of attracting a substantial $80 billion in investments.

Mozambique Unveils $80 B Energy Transition Plan To Propel Green Growth

Mozambique has given the green light to an ambitious energy transition plan set to transform its energy landscape until 2050, with the aim of attracting a substantial $80 billion in investments. The announcement, made by a senior energy official on Monday, underscores Mozambique’s commitment to bolstering renewable energy capacity and enhancing electricity accessibility.

Mozambican President Filipe Nyusi is slated to formally present this groundbreaking energy strategy to international partners and potential donors on December 2 at the COP 28 climate summit in Dubai, marking a pivotal moment for the nation’s sustainable development efforts.

The priority initiatives outlined in the plan, spanning from the upcoming year until 2030, include a substantial increase of 2,000 megawatts in hydropower capacity. This involves the modernization of existing plants and the completion of the transformative Mphanda Nkuwa hydro project. Additionally, the nation aims to expand its national electricity grid and pivot towards electric vehicles as part of a comprehensive strategy to curtail emissions in the transport sector.

Pedro Simao, the special advisor to the minister of energy, revealed to Reuters on Monday that the document detailing these far-reaching plans is undergoing final adjustments and is expected to be publicly released later this week. The comprehensive strategy received approval from Mozambique’s Council of Ministers on November 21, solidifying its status as a government-endorsed roadmap for sustainable energy development.

Having exported its inaugural liquefied natural gas in November 2022, Mozambique envisions that significant gas discoveries, coupled with tapping into its renewable energy potential, will not only spur economic growth but also play a pivotal role in lifting millions out of poverty. The nation’s forward-thinking approach aligns with global efforts to address climate change and marks a substantial stride towards a greener, more sustainable future.

As the energy transition plan takes center stage at the COP 28 climate summit, all eyes will be on Mozambique’s commitment to fostering a resilient and eco-friendly energy sector, setting the stage for a transformative journey towards a low-carbon and sustainable future.