An investment firm headquartered in the UAE has entered into two agreements aimed at fast-tracking Madagascar’s shift to renewable energy.
Global South Utilities (GSU), a subsidiary of Abu Dhabi’s Resources Investment, has teamed up with Madagascar’s Ministry of Energy and Hydrocarbons to establish a 50-megawatt (MW) solar photovoltaic power facility, along with a 25-megawatt-hour (MWh) battery storage system, in Moramanga.
This agreement establishes the foundation for a future Power Purchase Agreement with JIRAMA, Madagascar’s national utility. Once complete, the project will considerably strengthen the Antananarivo interconnected network and reduce the nation’s reliance on fossil fuels. The implementation of the project is scheduled to be completed within 12 months.
The second agreement sets out the intention of both parties to collaborate on additional projects, with a combined installed capacity of up to 250 megawatts.
