The Angolan Ministry of Finance has secured €1.29 billion ($1.44 billion) from Standard Chartered to finance the construction of 48 hybrid PV systems across the provinces of Moxico, Lunda Norte, Lunda Sul, Bie, and Malanje. The new solar infrastructure will provide sustainable electricity to 1 million people.
Angola''s Ministry of Finance has secured €1.29 billion from Standard Chartered to finance the construction of 48 hybrid PV systems across the Angolan provinces of Moxico, Lunda Norte, Lunda Sul, Bie, and Malanje.
The minigrid systems have a combined capacity of 296 MW of solar, with energy storage in lithium-ion batteries of 719 MWh. The project will be implemented over a period of 36 months.
"Depending on the level of consumption for the 48 sites we estimate an LCOE ranging between €0.153/KWh to €0.275/KWh for all the systems,” a spokesperson from MCA told pv magazine. “This considers not only the PV Generation but also the storage capacity for all 48 sites. As far as the cost for consumers per KWh is concerned, Angolan tariff regulation mandatorily applies. Depending on the type of consumer, a given price per kWh will be charged there are subsidies to electricity prices in Angola.”
In early June, the Export-Import Bank of the United States awarded a loan to Angola''s Ministry of Energy and Water to deploy two large-scale solar power plants, totaling 500 MW.
According to the latest statistics from the International Renewable Energy Agency (IRENA), Angola had 297 MW of installed PV capacity at the end of 2022. By 2025, the African nation aims to reach an access rate of 65% and a total installed capacity of approximately 10 GW. However, its current installed capacity is only 5.6 GW, with just 4.5 GW actually available.
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Africa Energy Outlook 2019 is the IEA''s most comprehensive and detailed work to date on energy across the African continent, with a particular emphasis on sub-Saharan Africa. It includes detailed energy profiles of 11 countries that represent three-quarters of the region''s gross domestic product and energy demand.
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