Gemcorp Angola Signs MoU With Ministry of Energy to Establish Platform for Investments in Energy Sector

LUANDA, Angola, May 24, 2024 (GLOBE NEWSWIRE) -- Yesterday, the Ministry of Energy and Water in Luanda signed a memorandum of understanding with Gemcorp Angola. This agreement aims to establish a platform in the country that will facilitate the execution of investments in the energy sector.

The memorandum outlines the implementation of projects to upgrade the Capanda Hydroelectric Plant and construct electrical power transmission lines extending to the border with Namibia. These initiatives will strategically position Angola as a significant energy exporter to other Southern African countries.

The memorandum was signed by Rui Gourgel, the President of the Board of Directors of RNT - National Electricity Transmission Network, and Marcus Weyll, the CEO of Gemcorp Angola. The Minister of Energy and Water, João Baptista Borges, and the Secretary of State for Energy, Arlindo Carlos, were also present at the event.

Marcus Weyll, CEO of Gemcorp Angola, said: “Our mission at Gemcorp Angola is to contribute to the diversification of the economy and ensure that water and energy are readily available to serve the Angolan community and support the country’s development. This memorandum of understanding that we have signed today is a crucial step towards fulfilling our commitment. It also serves as an unequivocal indicator of the Government’s progress in this sector, in enhancing installed capacity and creating opportunities for new and significant investments.”

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