- The European Union will invest 190 million euros in renewable energy production projects over the next two years to exploit the vast potential in Mozambique.
- Maggiore said that it is not the role of the European Union to dictate which source Mozambique should prioritize and which it should consider as transitional energy.
The European Union will invest 190 million euros in renewable energy production projects over the next two years to exploit the vast potential in Mozambique. The EU Ambassador, Antonino Maggiore, at the opening of a business conference on renewable energies organized by the Mozambican Association of Renewable Energies.
Mozambique’s hydropower generation potential is the largest in southern Africa, estimated at 15 GW, and of which only 2,120.38 MW are harnessed. This fact, according to the report, allows the country to play the role of energy hub in the region, especially with the projects of Mphanda Nkuwa (1,500MW), Cahora Bassa Norte (1,245 MW), Lupata (650 MW), Boroma (200 MW) and Chemba (600 MW ).
Maggiore said that it is not the role of the European Union to dictate which source Mozambique should prioritize and which it should consider as transitional energy. “However, we believe that the decision on the preferential source for energy production must be taken based on a careful cost-benefit analysis”, says the report quoting the ambassador. The Permanent Secretary of Mozambique’s Ministry of Mineral Resources and Energy, Teodoro Vales, added that the participation of the private sector in the value chain is crucial for achieving universal access to energy.