Angola announced its Ministry of Finance has received $1.4 billion to construct a photovoltaic (PV) electricity distribution infrastructure for its provinces and rural villages across the country, including Moxico, Lunda Norte, and Malanje.
The funds, provided by Standard Chartered and backed by Euler Hermes, a German export credit agency, will allow Angola to purchase 48 hybrid PV generation systems. These systems will have energy storage capabilities, which will create autonomously operating mini-grids and provide 100% renewable electricity to nearly one million residents.
“The new generation systems will support rural villages across the country to become more self-sufficient and less reliant on Angola’s main electricity network,” said Standard Chartered.
In addition to providing 60 communities with access to renewable energy, the PV systems will also save approximately 7.9 megatons of CO2 emissions.