Eni and Sonangol agreement for renewable energy initiatives in Angola

Source: press release, 5 June 2019

The new jointly controlled company will specificly focus on utility-scale solar projects
The new jointly controlled company will specificly focus on utility-scale solar projects (photo: Eni)

Eni and Sonangol have signed in Luanda a Heads of Agreement for the incorporation of Solenova Ltd, a jointly controlled company set up to assess and develop renewable energy opportunities in Angola. The creation of this new company is consistent with the country’s energy strategy that establishes a target of 800 MW of installed renewable capacity by 2025, with a specific focus on utility-scale solar projects.

The first business opportunity jointly identified in the renewable energy sector consists in the phased development of a 50 MW photovoltaic plant in the Southern part of the country, which currently relies mainly on diesel thermal plants for electricity production.

This initiative, and the others under evaluation, are in line with the Angolan global strategy for the electricity sector of promoting renewable energy with the aim to reduce the diesel consumption, lowering operating costs and polluting CO2emissions.

Eni strategy in renewables business foresees the realisation of more than 60 worldwide brownfield and greenfield projects, for a total of over 1.6 GW of wind and solar capacity by 2022 and up to 5 GW by 2025, with an investment of EUR 1.4 billion in the 2019-2022 period.