The Mozambican government has approved an energy transition strategy aimed at reducing the country’s dependence on fossil fuels, estimating that its implementation will cost 80 billion dollars by 2050, in order to obtain funding to develop the economy.
The first steps in the energy transition strategy, approved by the Council of Ministers on November 21, include the addition of 2,000 megawatts of hydroelectric capacity by 2030 and the expansion of the transmission network to allow for the addition of more renewable energy, according to a report published by the Bloomberg financial information agency.
According to the same publication, the full program will be announced by the President of the Republic, Filipe Nyusi, at the 28th United Nations Conference on Climate Change (COP28), which will be held from November 30 to December 12 in Dubai, United Arab Emirates.
“The country has great potential to be a global leader in climate-aligned development,” reads the document, underlining that “the Energy Transition Strategy sets out a clear path for harnessing these assets to enable sustainable growth at the national level while supporting emissions reductions.”
Mozambique is the latest developing country to seek international funding to finance its energy transition program. Senegal became the second African country to secure a substantial climate finance package of 2.7 billion dollars to support and accelerate its just energy transition strategy.
Back in September, Mozambique’s national energy director, Marcelina Mataveia, said that talks on financing had been held with Belgium, Germany, the United Kingdom and the United Arab Emirates, and that an investment plan would be announced at the COP28 meeting.
Although Mozambique is one of the poorest countries in the world, it has abundant hydroelectric, wind, solar and natural gas resources. The country also has deposits of essential materials for the ecological transition, such as lithium and graphite, which are used in batteries.
To encourage the construction of private solar and wind power plants, the government has announced that it intends to hold more auctions and build “green industrial parks” to encourage the processing of its minerals.
Mozambique also intends to increase the proportion of ethanol and biodiesel added to gasoline and diesel sold in the country to promote the use of vehicles powered by electricity and compressed natural gas. For the Mozambican government, the aim is to universalize access to electricity by 2030.
