AfrElec: Angola aims for 70% renewables

Angola wants renewable energy to account for 70% of the power mix by 2025 and is looking to attract foreign investment from EU, international financial institutions (IFIs) and private investors to fund the country’s energy transition.

The country's energy mix is currently dominated by hydro (56%) and natural gas (12%), according to the African Energy Chamber,

Angola has considerable hydro potential, although only 5% of the country’s 47 large watersheds are being currently utilised.

Alongside hydro, the country has considerable wind potential. Wind speeds in the southern and central highlands of Angola are estimated at an average of 4.5 metres per second, while the Atlantic coast also benefits from strong winds and is projected to have the potential to generate more than 3.9 GW of wind energy.

Angola’s large hydro potential also creates scope for green hydrogen. State-owned national oil company Sonangol has started exploring the possibility of producing green hydrogen in Angola together with German partners.

The EU is very interested in diversifying its energy needs away from Russian gas, and hence is set to intensify collaboration aimed at developing green hydrogen in Angola.

Europe is also a partner of choice in attracting investment to help fund renewable energy projects in Angola. The country could target such development finance institutions (DFIs) as: Green Investment Group, (UK); Copenhagen Infrastructure Partners (Denmark); Qualitas Equity (Spain); Fontavis (Switzerland); Scatec (Norway); Eiffel Investment Group (France); Finerge (Portugal); Ventient Energy (UK); Wirtgen Invest (Germany) and RP Global (Austria).