(MENAFN- African Press Organization)
The 2022 edition of the Angola Oil
& Gas (AOG) ( ) conference and exhibition – Angola's premier event for the energy sector which runs from November 29 – December 01 in Luanda – will host a renewable energy-dedicated panel discussion where industry experts will explore ongoing market trends, investment opportunities and industry prospects as the country looks to reawaken new investment in green energy in pursuit of energy security, sustainability and socioeconomic growth.
Currently, Angola is heavily investing in renewable energy with the aim of not only decarbonizing its energy mix and ensuring energy reliability but to shape Africa's energy transition. Backed by policy reforms, Angola continues to enhance renewable technical and financial capacity while boosting its market's attractiveness and readiness for independent power producers and global investors. Specifically, H.E. President João Lourenço's target to have renewables account for 70% of the energy mix by 2025 presents an opportunity for Angola to tap into its massive solar and wind resources to diversify the economy, meet the increasing energy demand of a growing population and create new sources of employment, public-private partnerships and progressive industries.
Already, progress is being made to make this objective a reality. In July 2022, the country saw the completion of its first two solar photovoltaic plants – the Biópio and Baía Farta projects which will supply electricity to up to 1.5 million people – with more expected to come in the following months including the 50 MW Caraculo project in Namibe Province. As such, the country's huge potential to stabilize energy supply through renewables has already been highlighted, with AOG 2022 expanding the discussion on the role solar will play in Angola, the best practices to progress renewables penetration and the achievements made thus far.
Meanwhile, renewable opportunities extend the solar and wind landscape with Angola emerging as a regional leader in green hydrogen development with plans underway by national oil company Sonangol to build a green ammonia factory that will position the country as the first supplier of green hydrogen to Germany by 2024. As the domestic green hydrogen market unfolds in Angola, AOG 2022 is committed to strengthening investment in the burgeoning sector, providing the best platform for insight to be gained and new deals signed that will advance the industry.
As countries globally compete to attract renewable investments, Angola continues to exceed expectations with the country launching a series of mechanisms to encourage foreign investment into the sector, driving new private-public partnerships and maximizing existing collaborations with oil and gas firms.
As Africa's largest crude oil producer, an upcoming gas market and a globally competitive petroleum exporter, Angola can lead Africa's decarbonization path by directing its massive hydrocarbon revenues towards renewable infrastructure build up. In this regard, AOG 2022 will highlight investment opportunities present across Angola's renewable energy sector while emphasizing how the industry can benefit from an already established and rapidly expanding hydrocarbons sector.
Distributed by APO Group on behalf of Energy Capital & Power.
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