The Angolan Ministry of Finance has secured €1.29 billion ($1.44 billion) from Standard Chartered to finance the construction of 48 hybrid PV systems across the provinces of Moxico, Lunda Norte, Lunda Sul, Bie, and Malanje. The new solar infrastructure will provide sustainable electricity to 1 mil Contact online >>
The Angolan Ministry of Finance has secured €1.29 billion ($1.44 billion) from Standard Chartered to finance the construction of 48 hybrid PV systems across the provinces of Moxico, Lunda Norte, Lunda Sul, Bie, and Malanje. The new solar infrastructure will provide sustainable electricity to 1 million people.
Angola''s Ministry of Finance has secured €1.29 billion from Standard Chartered to finance the construction of 48 hybrid PV systems across the Angolan provinces of Moxico, Lunda Norte, Lunda Sul, Bie, and Malanje.
The minigrid systems have a combined capacity of 296 MW of solar, with energy storage in lithium-ion batteries of 719 MWh. The project will be implemented over a period of 36 months.
"Depending on the level of consumption for the 48 sites we estimate an LCOE ranging between €0.153/KWh to €0.275/KWh for all the systems,” a spokesperson from MCA told pv magazine. “This considers not only the PV Generation but also the storage capacity for all 48 sites. As far as the cost for consumers per KWh is concerned, Angolan tariff regulation mandatorily applies. Depending on the type of consumer, a given price per kWh will be charged there are subsidies to electricity prices in Angola.”
In early June, the Export-Import Bank of the United States awarded a loan to Angola''s Ministry of Energy and Water to deploy two large-scale solar power plants, totaling 500 MW.
According to the latest statistics from the International Renewable Energy Agency (IRENA), Angola had 297 MW of installed PV capacity at the end of 2022. By 2025, the African nation aims to reach an access rate of 65% and a total installed capacity of approximately 10 GW. However, its current installed capacity is only 5.6 GW, with just 4.5 GW actually available.
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We’re helping Angola strengthen the national electricity system, diversify the energy matrix, and reduce the dependence on fossil fuels. The Angola Solar Project includes seven utility-scale projects, including one installation that is the largest utility-scale solar installation in Sub-Saharan Africa.
In four southern provinces of Angola, we’re deploying 724 MW of utility-scale solar PV, solar minigrids with battery storage, home power kits, and potable water. This $2 billion project is our second large-scale solar project in Angola and will provide electrification to more than two million people.
This transformative project promotes widespread electrification, local job creation, and knowledge and technology transfers. It includes approximately one Gigawatt of utility-scale solar power generation, battery storage, distribution infrastructure, and an advanced grid asset management system.
In some of the most remote corners of Nigeria, we''re installing over 200 minigrids and solar cabins. Together, they''ll bring clean, reliable, affordable energy to rural communities that are far from the national grid and have never had access to electricity before.
We''re constructing a solar cabin pilot system in a rural, off-grid location near Abuja. This modular "plug-and-play" solar power generation and storage solution will provide 30 KWp of solar and 81 kWh of energy storage. Once installed, around 700 people in the Kaida community will gain access to electricity.
Each one of our projects is a step toward an Africa with a more diversified energy matrix, stronger national grids, and easier access to clean, affordable energy. From solar PV to minigrids, we''re proud of what we''ve done. And we''re just as excited to keep working with ambitious partners to reshape Africa together.
Supporting electrification as well as diversification, solar projects are being rolled out by the government alongside international partners and project developers.
An agreement for the development of a 150 MW solar plant was signed between Angola''s Ministry of Energy and Water and UAE-based renewable energy company Masdar in Dubai last December. The 150 MW project will produce electricity to power 90,000 homes, contributing to job creation, emissions reduction and efforts to increase national electrification.
Angola''s Ministry of Finance secured $1.44 billion in financing from multinational bank Standard Chartered in July 2023 to fund the deployment of 48 solar PV systems nationwide. The projects will be installed in the Moxico, Lunda Norte, Lunda Sul, Bie, and Malanje provinces, adding 296 MW of solar capacity and 719 MWh of battery energy storage system to the Angolan grid. The facilities will provide electricity to power one million consumers. Clean energy firm MCA Group has been tasked with the construction of the projects.
The 26,906 MW Luena Solar Energy Park is expected to start operations in 2024. Located in Moxico province, the $39.1 million project will comprise 42,560 solar panels and will be operated by state utility Empresa Pública de Produção de Electricidade. The project reached 60% completion in April 2023.
Angola started operations at two solar energy facilities – the 188 MW Biopio Solar Plant and the 96 MW Baia Farta Solar Plant – in Benguela province in August 2022. The projects were developed by MCA Group with funding provided by the International Bank for Reconstruction and Development (IBRD) and the French Development Agency (AFD). The project is part of an initiative launched MCA group, the AFD and the IBRD in 2021 to develop seven solar farms and provide access to electricity to 2.4 million consumers in Angola.
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