Masdar has signed an agreement with the Ministry of Mining, Petroleum and Energy for the Republic of Côte d’Ivoire to explore the development of a solar power plant with a capacity of up to 70MW.
The agreements were signed under the umbrella of the Etihad 7 initiative, a UAE-led program that aims to raise public and private-sector funds to invest in the development of Africa’s renewable energy sector, with the aim of achieving 20GW capacity to supply 100 million people across the continent with clean electricity by 2035.
As per the agreement, Masdar and the Ivorian Ministry of Mining, Petroleum and Energy will explore the joint development of solar photovoltaic plants in Côte d’Ivoire, starting with a first 50MW to 70MW plant. The site would support the Republic of Côte d’Ivoire’s goal of 42% of its energy mix coming from renewable sources by 2030.
“Côte d’Ivoire has committed under climate change agreements to reduce its greenhouse gas emissions by 32% and to increase the share of renewable energies in its energy mix to 45% by 2030,” said Ivorian Minister of Mining, Petroleum and Energy Mamadou Sangafowa Coulibaly.
“In accordance with its commitments, Côte d’Ivoire has drawn up a master plan for the development of its production facilities, which integrates solar, hydroelectricity and biomass. The framework agreement that we have just signed with Masdar, accompanied by a first project of 50MW to 70MW, will contribute to achieving this ambitious objective.”
Masdar Chief Executive Officer Mohamed Jameel Al Ramahi added: “As part of Masdar’s new shareholding structure launched in December, we have a goal of delivering 100GW of clean energy around the world by 2030.
“With Africa’s massive projected development and growth and low current clean energy penetration levels, we see enormous potential for the renewable energy sector across the continent. This agreement will support Côte d’Ivoire’s clean energy goals and help to drive sustainable economic development for the nation.”