Mozambique unveils ambitious $80 billion energy transition plan

Mozambique has recently greenlit a groundbreaking energy transition plan set to span until 2050, with the goal of securing investments totaling approximately $80 billion.

The comprehensive strategy aims to propel the nation towards a more sustainable future by enhancing renewable energy capabilities and ensuring wider electricity availability.

President Filipe Nyusi is slated to formally present the ambitious energy plan to the international community on December 2nd during the COP28 climate summit in Dubai. The plan, approved by Mozambique’s Council of Ministers on November 21, outlines crucial initiatives set to unfold between 2023 and 2030.

Key components of the plan include a substantial increase of 2,000 megawatts in hydropower capacity achieved through upgrades to existing facilities and the completion of the Mphanda Nkuwa Hydropower Project. Additionally, the strategy emphasizes the expansion of the national electricity grid and a significant transition to electric vehicles to mitigate emissions in the transportation sector.

Mozambique, which marked its entry into the liquefied natural gas market in November 2022, envisions that substantial gas discoveries, combined with the untapped potential of renewable energy, will serve as catalysts for economic growth. The implementation of this energy transition plan aligns with the country's broader objectives of driving development and uplifting millions from poverty.