Approval of $1.8 billion for 144 renewable energy projects in Mozambique

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The European Programme for Clean Energy Investments (GET.Invest) has approved approximately $1.8 billion for 144 renewable energy projects in Mozambique from 2016 to 2023. These projects were proposed by private enterprises and are part of a larger pool of nearly 1,400 submissions. Out of these, 380 projects received backing, and 70 are currently in the final stages of securing funding, totaling €442 million. Despite ongoing difficulties, the multi-donor initiative from Europe, as stated in a GET.Invest communication to AIM, highlights its notable accomplishment rate and extensive market penetration.

“GET.Invest’s groundbreaking efforts yield substantial and concrete outcomes. The establishment of a portfolio, comprising over 200 projects that receive robust backing and exhibit a strong success rate, demonstrates a significant market presence, involving over 16,000 participants,” states the message.
GET.Invest rationalizes its commitment to the sector by emphasizing the growing commercial feasibility of clean energy solutions. These solutions not only offer a cost-effective avenue to furnish clean and accessible energy to millions but also bridge project and business advancement with funding.
“According to the document, GET.Invest anticipates that €41 billion annually will be required by 2030 to expedite electrification initiatives in Africa under the universal access framework.”

Amount of power produced by renewable energy projects.

“Based on the data, solar energy stands as the most abundant renewable resource in Mozambique, with the potential to generate 23,000 Gigawatts. However, hydropower remains the predominant focus, boasting priority projects totaling 5.6 Gigawatts.”
“It’s noteworthy that Mozambican authorities have identified an array of cost-effective, medium-sized projects on rivers like Revue, Buzi, Pungue, Luenha, Revubue, Licungo, Lurio, Lugenda, Messalo, and Lucheringo.”
“GET.Invest Mozambique receives funding from the Delegation of the European Union in Mozambique under the Promote Energy program, as well as from the German Ministry for Development Cooperation.”

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