Mozambique’s government approved a strategy to reduce the nation’s dependence on fossil fuels that it estimates will cost $80-billion to implement by 2050, a step aimed at winning finance to develop the economy.

The first steps envisioned in the Energy Transition Strategy, approved by the Council of Ministers on November 21, include the addition of 2 000 MW of hydropower capacity by 2030 and expanding the transmission grid to allow for the addition of more renewable energy, the government said. The full program will be announced by President Filipe Nyusi at a December 2 event at the COP28 international climate summit in Dubai, it said in a statement sent to Bloomberg.

“Mozambique has major potential to be a global leader in climate-aligned development,” it said. “The ambitious ETS lays out a clear pathway for harnessing these assets to enable sustainable nationwide growth while supporting emissions reductions.”

Mozambique is the latest developing country to seek international funding to finance an energy switch. South Africa, Indonesia, Vietnam and Senegal have won pledges of billions of dollars from some of the world’s richest nations to reduce their reliance on coal and other fossil fuels.

In September, Marcelina Mataveia, Mozambique’s national director of energy, said talks over funding had been held with Belgium, Germany, the UK and the United Arab Emirates, and an investment plan would be announced at the COP meeting.