Global clean energy company Masdar has signed a power purchase agreement (PPA) for the 150 megawatt Quipungo solar photovoltaic project in Angola.
The pact secures long-term electricity offtake from the Quipungo project, the first contracted site under Project Royal Sable, a planned 500MW renewable energy programme in southern Angola.
The agreement was signed with Angola's state-owned offtaker Rede Nacional de Transporte de Electricidade on the sidelines of the Irena (International Renewable Energy Agency) General Assembly, part of Abu Dhabi Sustainability Week, on Sunday, Masdar said in a statement. The deal is Masdar’s first PPA in the country.
“Africa is the world's fastest-growing continent and that growth will depend on affordable, secure energy,” said Mohamed Al Ramahi, Masdar’s chief executive.
“The Quipungo PPA demonstrates how long-term partnerships and structured offtake arrangements can accelerate the deployment of utility scale renewables that support national clean energy ambitions, economic development, and job creation providing reliable, affordable clean power to local communities.”
The wider 500MW Project Royal Sable will be developed in a phased manner. Once complete, it is expected to create more than 2,000 jobs, deliver clean electricity to around 300,000 homes, and enhance power generation capacity in Angola’s southern grid, the statement said.
Masdar, jointly owned by Taqa, Adnoc and Mubadala, is active in more than 40 countries, with a combined capacity of 51 gigawatts. It has emerged as a major global player in the past few years in renewables, with projects spanning from the Middle East and Central Asia to Europe and the US.
The company has been expanding and made investments worth $15 billion in renewable energy projects around the world last year as part of its expansion plans, Mr Al Ramahi said last week.
“Our main goal is to reach 100 gigawatts [of] renewable capacity by 2030 and we are more than halfway through in reaching the target,” he said.
Masdar is currently the largest operator of renewables in Africa through its joint venture, Infinity Power, which currently operates 1.3 gigawatts of solar and onshore wind power projects in South Africa, Egypt and Senegal.
It also has a 13.8GW project pipeline, including battery storage and green hydrogen facilities, in various stages of development.
The addition of Project Royal Sable will contribute to Masdar’s target of 100GW portfolio capacity by 2030, the company said.
The Quipungo PPA, supported through Irena's Energy Transition Accelerator Financing platform, is turning “national energy plans into concrete projects”, said Francesco LaCamera, Irena's director general.
“The Quipungo Solar PV project will contribute to strengthening Angola’s power system and expanding access to clean, reliable electricity, improving thousands of lives and inspiring greater investor confidence in Africa’s energy transition.”
The UAE and Angola share strong ties, with bilateral non-oil trade increasing by 29.7 per cent to $1.4 billion in the first half of 2025.
They signed a Comprehensive Economic Partnership Agreement (Cepa) and other deals in August to further boost trade during President Sheikh Mohamed's state visit to the African country.
The Cepa is expected to increase bilateral trade between the countries to $10 billion a year by 2033, add about $1 billion to both countries' gross domestic product and create nearly 30,000 jobs.
