Release by Scatec, a subsidiary of Norway’s Scatec energy group, announced on Tuesday, November 11, the signing of a power leasing agreement with the national utility EMAE to build an 11-megawatt (MW) solar power plant at Água Casada. The project is expected to avoid about 13,000 tons of CO₂ emissions each year and reduce fuel imports. With an installed capacity of 38 MW but only 19 MW currently available, the country sees this project as an important step toward a more stable and affordable power supply.
São Tomé and Príncipe currently generates less than 5 percent of its electricity from renewable sources. Most production comes from five thermal plants fueled by diesel. Recurrent diesel shortages have worsened the country’s energy insecurity and strained its public finances.
According to the “National Energy Compact” released under the Mission 300 initiative, the country’s GDP contracted by 0.5 percent in 2023, while the domestic primary fiscal deficit reached 1.7 percent of GDP, reflecting the impact of external shocks and high fossil fuel costs.
“This agreement marks a significant step toward a cleaner, more sustainable future for São Tomé & Príncipe. We’re not only reducing emissions but also empowering the nation with reliable, affordable energy,” said Hans Olav Kvalvaag, CEO of Release.
The agreement supports the national energy transition plan, which aims to reach 50 percent renewable energy in the electricity mix by 2030. The government also plans to raise electricity access from 84 percent to 100 percent by combining solar photovoltaic and hydroelectric power to electrify rural areas and strengthen grid resilience.
Abdoullah Diop
Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...
Since its 2019 IPO, Airtel Africa paid Deloitte over $37 million in audit and non-audit fees,...
CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...
World Bank announces $137 million to boost West Africa digital economy Program expands broad...
ECOWAS is proposing a regional digital platform for passengers to file and track complaints online...
System to enable tree-level traceability from forest to export Reform targets data gaps, fraud risks, and weak sector oversight Gabon's government...
(BIDC) - The ECOWAS Bank for Investment and Development (EBID), in partnership with ASKY Airlines and Plan International Togo, successfully hosted the...
SMEs drive up to 40% of GDP and most jobs but face regulatory and financial constraints Power shortages and limited access to finance remain major...
BOA Niger warns net profit to drop 92% in 2025 Decline driven by high provisions amid rising non-performing loans Sanctions and weak lending...
Event highlights growing role of diaspora entrepreneurs across multiple sectors Networks support trade, investment and SME...
Afreximbank launches Impact Stories season two highlighting trade-driven transformations Series features projects across Africa and Caribbean, from...