State-owned Sonangol EP and Azule Energy signed a memorandum of understanding (MoU) to expand decarbonization initiatives in Angola.
Key objectives of the MoU include identifying shared interests, establishing a framework to assess potential collaborations, and exploring opportunities for renewable energy projects that include solar and wind, and low-carbon blue hydrogen, among others.
The partnership also seeks to conduct joint studies on carbon taxes and credits, while at the same time promoting improved national regulations and best practices in the sector.
The MoU was signed during the Angola Oil and Gas Conference in Luanda.
Sonangol, in its yearend 2022 report, said it is committed to reducing greenhouse gas emissions from its operations by 15% by 2030.
The two companies are currently cooperating on a renewable energy pilot, the Caraculo photovoltaic plant, in the Namibe province. The plant is being developed by Solenova, a 50-50% joint venture between Sonangol and Azule Energy created for the promotion of renewable energy projects in Angola.
The project consists of the phased installation of a 50 Mw photovoltaic plant; the first 25 Mw phase became operational in May 2023.