The Government of Angola has signed a memorandum of understanding (MoU) with private engineering company ProMarks and Singapore-based commodity trader Trafigura to conduct a technical and economic viability study and to develop a Public Private Partnership model for a major regional power transmission and supply project.
The project consists of the construction and operation of a 2 GW high-voltage direct current (HVDC) “interconnector to integrate surplus green energy produced by the hydropower dams in North Angola to the Southern Africa Power Pool (SAPP), particularly to the DRC Copperbelt and Zambia. The joint venture would develop, finance, construct and operate the interconnector, with the project intended to be financed through a combination of equity capital and third-party debt. The parties intend to complete viability studies to define the steps for developing the project, considering that planning, approvals, and construction could take around 4 years after the final investment decision (FID) is made.
Angola's installed capacity totals 7.5 GW, with hydroelectricity representing 49% of the total capacity (end of 2023) and about 75% of the country’s power mix.