27 of October 2022

Angola: Measures to reach 70% of energy from renewable sources

Angola is looking for alternatives for the decarbonization of its energy matrix to reach 70% of renewable energy sources by 2025, according to the Secretary of State for Oil and Gas, José Barroso.


According to the official, the sector is taking important steps towards the decarbonization of the oil industry and has carried out campaigns aimed at establishing an inventory of emissions in the country.


In order to find solutions that allow the continuous development and rapid oil potential, “increasingly environmentally friendly”, the official said that the sector works in collaboration with the United Nations program and with some companies operating in the market, having already started to present its own initiatives that will allow to reduce carbon emissions in its operations.


The energy transition, according to José Barroso, means for Angola to continue to explore and produce its resources, with low levels of greenhouse gas emissions that will allow for technical and economic viability and, with the resulting revenues, will allow the introduction of cleaner energy sources.


During the 2nd Conference on Environment and Development, KPMG associate consultant Pedro Cruz presented a study according to which, in order to achieve the aforementioned target set by the Government, Angola has to invest around US$23.3 billion.


This study says that with clean energy sources, Angola is now responsible for 4.8 metric tons of carbon dioxide. These projections indicate that, to achieve the defined goals, the private sector must participate with investments in the production of clean energy with US$7.7 billion, at a stage in which the public sector will contribute US$4.4 billion.


In addition, the public sector must employ 3.9 billion in energy transmission lines and another 3 billion in projects in urban areas, where the private sector contributes 2.3 billion. Electrification of rural areas will cost the public sector US$2 billion, compared to just US$200 million for the private sector.


Total investment in production and distribution amounts to US$11.5 billion for the public sector and US$9.8 billion for the private sector, plus US$2 billion for the private management of projects.


Source: Jornal de Angola