Mozambique’s National Investment Bank (BNI) on Monday December 2nd signed in Dubai an agreement with AMEA Power from the United Arab Emirates valued at 150 million US dollars.
The agreement is aimed at developing a photovoltaic solar power plant with an estimated annual capacity of between 125 and 200 MWp (megawatt peak).
The agreement was signed during the 28th meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP 28) taking place in the United Arab Emirates, at which the Mozambican government reaffirmed its commitment to promoting economic development anchored in environmental sustainability, highlighting the recently approved Energy Transition Strategy as a fundamental part of this commitment.
The Matambo Solar Energy Project, the result of this agreement, is expected to significantly reduce carbon dioxide emissions annually.
Once operational, the project will play a role in meeting the growing demand and increasing energy needs of both Mozambique and the southern African region, in line with the government’s objectives of accelerating the country’s electrification.
According to official information, the solar project initiative “is in line with the government’s objectives of electrifying the country by 2030.”
In addition to the environmental benefits, the project is expected to provide electricity to over 150,000 Mozambican households and generate over 1,500 jobs during the construction phase.
“By taking a prominent role in this initiative, the BNI is consolidating its position as a development bank”, declared a statement from the bank.
“By promoting and mobilizing financing solutions, alternatives and foreign investment for projects, the institution reinforces its commitment to Mozambique’s socio-economic development.
This agreement not only represents a strategic milestone, but also underlines BNI’s crucial role in the energy transition and in stimulating the country’s sustainable development”.
