Angola energy catalyst

How does Angola's energy transition affect the economy?

Angola’s energy transition continues to power the country’s grid and cultivate socioeconomic opportunities. Angola is among Africa’s top oil producing nations, with oil reserves estimated at 9 billion barrels, gas reserves at 11 trillion cubic feet and production measured at approximately 1.22 million barrels of oil per day in 2021.

Does Angola have solar power?

On the back of the energy transition, Angola’s national oil company, Sonangol, signed a $1.5 billion deal to develop the country’s solar and water capacity with solar-project developer, Sun Africa, and US-based, Africa Global in 2021.

What is Angola's energy mix?

Angola’s current installed capacity is estimated at 5.7 GW but only 70 percent is in use. The country’s current energy mix consists of 61.8 percent hydropower, 37.6 percent other fossil fuels and 0.6 percent hybrid (solar/fossil fuel).

How much does Angola spend on electricity?

The portion of the Angolan government budget dedicated to the electricity production, transmission and distribution sectors increased to US$ 817.2 million in 2023 from US$490 million in 2022. Angola’s national budget for electricity assessment allocated is around US$ 249.4 million.

Is hydropower a key source of energy in Angola?

Renewable energy sector plans include investment in hydropower which has the potential to be a key source of energy in Angola. Hydropower is set to contribute a significant portion of the country’s energy supply and is estimated to have an 18.2 GW generating capacity. However, currently only 20% the capacity is being utilized.

Who will build a 50 MW solar power plant in Angola?

The Italian company ENI signed a concession agreement with the government for the construction of a 50 MW solar plant in Namibe province, in southwestern Angola. The solar power plant will be constructed by Solenova, a joint venture between ENI and Angolan state-owned oil producer Sonangol.