Mozambique to present new $80bn energy transition plan at COP28

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Mozambique to present new $80bn energy transition plan at COP28

President Nyusi is expected to officially present the energy strategy to the international community during COP28.

Mozambique has approved an ambitious new energy transition plan until 2050, hoping to attract investments of some $80bn to boost renewable energy capacity and increase electricity availability, a senior energy official said on Monday.

President Filipe Nyusi is expected to officially present the energy strategy to international partners and potential donors on December 2 during the COP28 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 Hydropower 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 adviser to the energy minister, told Reuters news agency on Monday.

The document was approved by Mozambique’s Council of Ministers on November 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.

Ahead of COP28, African countries are gearing up to ask for improved climate financing for renewable energy projects in a continent seen as lagging behind in preparing for a greener future, even though it contributes the least to global emissions.

Comprising about 17 percent of the world’s population, Africa contributes just 4 percent of global carbon emissions at 1.45 billion tonnes. But it has been home to some of the worst droughts and floods of recent times, including Cyclone Freddy, which killed more than 500 people and displaced thousands in Mozambique and Malawi earlier this year.

SOURCE: AL JAZEERA AND NEWS AGENCIES