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Energy Diversification, Private Capital Key To Universal Electricity, Says Angolan Energy Minister

Energy diversification via renewables will represent the pathway to universal electricity access in Angola, according to Minister of Energy and Water H.E. João Baptista Borges.

 “We have the great challenge of increasing the population’s access to electricity, recalling that Angola has an access rate of 40% of the population,” Minister Borges said in a virtual seminar hosted by the Portuguese Presidency of the European Union (EU) on Monday.

“We recently launched an important project that boils down to the construction of about 300 MW of solar capacity, which will allow us to diversify the sources of our matrix and face the reality of large droughts, which affect water and energy availability.”

With private investment integral to the green transitionthe establishment of a strong regulatory framework – as well as financial instruments and project financing structures that offset risk perceptions – will enable the mobilization of capital in new renewables and climate mitigation measures.

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Source: AfricaOilandPower

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