Page 11 - AfrElec Week 26 2022

AfrElec INVESTMENT AfrElec

Angola’s president pledges big

infrastructure investments in

election campaign

AFRICA ANGOLA’S President Joao Lourenco has above its southern border with Namibia.
pledged to invest in big infrastructure projects Last year at the 26th United Nations Cli-
such as multi-billion dollar solar parks, if he gets mate Change Conference (COP26) in Glasgow,
re-elected at the helm of Africa’s second-biggest Lourenco laid out the government’s plans to
oil producer. increase Angola’s renewable energy capacity to
In an interview with national broadcaster 70% of the energy mix by 2025 from current 62%
RTP, Lourenco spoke about plans to connect now.
Angola’s dams to the national grid and build The US government has recently facilitated a
photo-voltaic parks to help meet the country’s partnership between Angola and two American
energy needs, Bloomberg reported on June 29. firms to invest $2bn to build new solar projects
The government will also complete the in the African country, President Joe Biden said
construction of the national road network, a on June 26 at the G7 Summit in Germany. The
deep-water port and resume the construction partnership “will help Angola meet its climate
and completion works of the new Luanda Inter- goals and energy needs while creating new mar-
national Airport, he said. kets for American technologies and good jobs in
“We started the diversification of the econ- Angola,” he said.
omy, it was the goal of our previous mandate,” Lourenco, a former defence minister, said
Lourenco is quoted as saying. “The country he was working hard to ensure that his Popular
depends less on oil revenue because we are able Movement for the Liberation of Angola (MPLA)
to attract private investment to other sectors of party wins the upcoming vote. In 2017, MPLA
the economy.” obtained a 61% majority, with the National
Angola currently relies on oil for more than Union for the Total Liberation of Angola secur-
95% of export revenue, Bloomberg writes. The ing 27%. According to Bloomberg, this year’s
West African country, which faces chronic election is expected to be tighter, with the ruling
power outages, has huge potential in terms of party facing an increasingly united opposition.™
renewable energy with large rivers and a desert

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