Mozambique energy storage policy latest updates

What is Mozambique's energy transition plan?

REUTERS/Eduardo Munoz/File Photo Acquire Licensing Rights CAPE TOWN, Nov 27 (Reuters) - Mozambique has approved an ambitious new energy transition plan until 2050, hoping to attract investments of some $80 billion to boost renewable energy capacity and increase electricity availability, a senior energy official said on Monday.

Does Mozambique need an energy regulator?

As for the energy regulator, as recommended by the ERI 2020, Mozambique must improve its level of regulatory development, which currently ranks as very low in the AfDB index. ARENE lacks suficient budget to operate, and the tariff-setting process is yet to be fully developed.

Can Mozambique become an energy hub?

The government of Mozambique has established two fundamental goals in the electricity sector, to provide access to energy for the entire population by 2030 and to become an energy hub in the SSA region. To achieve those targets, it is crucial to update the least cost both on and off-grid electrification.

How much energy will be produced in Mozambique?

As of now, it is expected that between 40% to 60% of the energy produced will be destined for Mozambique, contributing significantly to the energy availability and competitiveness, to accelerate the country’s economic development and to laying foundations for the national industrialization process.

Will Mozambique get international funding for energy switch?

Mozambique is the latest developing country to seek international funding to finance an energy switch. South Africa, Indonesia, Vietnam and Senegal have won pledges of billions of dollars from some of the world’s richest nations to reduce their reliance on coal and other fossil fuels.

Will Mozambique's liquefied gas discoveries help lift millions out of poverty?

The document was approved by Mozambique's Council of Ministers on Nov. 21. The southern African country exported its first liquefied natural gas in November, 2022 and is hoping huge gas discoveries, together with its renewable energy potential, will propel economic growth and help lift millions out of poverty.