Thursday, July 18, 2024

BNI announces 150 million dollar partnership with Hidropower and AMEA Power

On Monday 4 December, National Investment Bank (BNI) signed a strategic partnership with AMEA Power, from the United Arab Emirates, and Hidropower, from Mozambique. The agreement, signed during the 28th United Nations Climate Change Conference (COP28) in Dubai, aims to develop a photovoltaic solar energy plant with an estimated annual capacity of between 125 and 200 MW, representing an investment of more than 150 million dollars.
The signing of the agreement was witnessed by the Mozambican government, which reiterated its commitment to sustainable economic development. Emphasising the recently approved Energy Transition Strategy as a fundamental part of this commitment, the country seeks to anchor its growth in environmentally responsible practices.
The solar project, according to official information, promises not only a significant annual reduction in carbon dioxide emissions, but will also play a crucial role in meeting the growing demand for energy in Mozambique and the southern region of Africa. This 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 more than 150,000 Mozambican families and generate more than 1,500 jobs during the construction phase, making a significant contribution to local and national economic development.
By taking a prominent role in this initiative, BNI is consolidating its position as a development bank. By promoting and mobilising 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.

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