Mon. Jun 24th, 2024

Italy will invest more than $6 billion in Africa's energy transition

Natasha Kumar By Natasha Kumar Jun3,2024

Italy will invest more than $6 billion in the energy transition of Africa

Italy expresses its readiness to invest more than $6 billion in the implementation of the energy transition by African countries, the Italian ambassador to Angola, Cristiano Gallo, said, ANGI writes.

Rome allocates these funds to projects in the field of clean energy as part of the energy transition started worldwide, the ambassador said at the Conference on Innovation and Energy Transition, organized by the National Agency of Oil, Gas and Biofuels of Angola together with the Chamber of Commerce and Industry of Angola – Italy.

The diplomat did not specify how much of the $6 billion is intended for Angola, but noted that several Italian companies have expressed interest in such investments in the country's energy sector. It is about the introduction of new technologies that make it possible to reduce emissions of carbon dioxide into the atmosphere.

According to the ambassador, these companies have already started carrying out feasibility studies and are presenting projects in the field of energy transition to the Angolan government that can to be financed by Italy. As the ambassador noted, Rome also intends to strengthen cooperation with the Angolan government in the sphere of economic diversification, especially in the energy sector with the help of the ENI company.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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