News Flash
- Bloomberg reports that Mozambique is seeking to become the latest country to secure an energy-transition pact with wealthy nations and is targeting a big announcement at the COP28 climate summit later this year.
The southern African country, one of the world’s poorest, plans to harness its abundant hydro, solar and wind potential to meet its own power needs and those of its neighbours, as well as using that electricity to process battery minerals such as graphite and lithium, said Marcelina Mataveia, its national director of energy. Talks over funding have been held with Belgium, Germany, the UK and the United Arab Emirates.
Such a pact, the centrepiece of which would be a US$4.5 billion 1500MW hydro power and transmission project, may have similarities to the so-called Just Energy Transition Partnerships some of the world’s richest governments are implementing with South Africa, Indonesia, Vietnam and Senegal. Mataveia declined to say what the plan’s total cost will be other than it would be “a lot.”
“The energy transition strategy will cover transport, will cover industry” and how to supply power to rural communities, Mataveia said in an interview in Nairobi, Kenya’s capital, on Wednesday. An investment plan will be announced at COP28, Mataveia said.
Source: Bloomberg
