According to a top energy official on Monday, Mozambique has authorized an ambitious new energy transition plan that would last until 2050 in the hopes of attracting investments of about $80B to expand the availability of electricity and boost renewable energy capabilities.
The Mozambican energy strategy is anticipated to be unveiled on Dec. 2 to prospective donors and international partners during the COP28 climate meeting in Dubai.
Mozambique is joining a growing number of developing countries that are looking to the international community for assistance in making the switch from fossil fuels like coal to cleaner energy sources. Mozambique will present an investment strategy at the COP summit in Dubai. The ambitious plan is a revolutionary development for African nations, and Mozambique is leading the way to create a sustainable future for Africa and the world.
Mozambique's government is trying to participate in the global initiative of reducing reliance on fossil fuels, and its new energy transition plan is certainly an ambitious endeavor. However, Mozambique is one of the world's poorest nations and has a long way to go to bring stable energy to its people. It will take a great deal of effort from this East African nation and the global community to make this renewable energy moonshot a success.
There is a 2% chance that renewable energy will contribute 25% or less to global electricity production in 2030, according to the Metaculus prediction community.