Angola signs over $1.5 billion in agreements with Oman, including 500 MW renewable project

Angola and Oman signed five agreements and eight memoranda of understanding on Friday, September 18, in Luanda, with a total value exceeding $1.5 billion, according to Omani authorities. The package covers various sectors, including energy, investment, aviation, logistics, defense, and agriculture.

One of the most significant projects involves the development of a 500 MW renewable energy facility in Angola, which will be paired with a battery storage system and is planned under an independent power producer model. The exchanged documents also mention cooperation in oil activities and services for the sector.

Angolan President João Lourenço and Sultan Haitham bin Tariq witnessed the exchange of documents at the presidential palace. The two countries also reached agreements on air transport, technical cooperation, double taxation, and visa exemptions for certain categories of official passports. Muscat aims to double bilateral trade in the coming years.

Economic cooperation between the two nations has already materialized in the water sector. The Angolan government approved a €658 million project in early September to rehabilitate, modernize, and expand Luanda’s water distribution network, with funding expected through cooperation with Oman via the Oman Investment Bank. Approximately three million residents in underserved areas are set to benefit from this initiative.

The 500 MW renewable project is currently included in a memorandum of understanding. The documents published on September 18 do not specify its cost or the expected commissioning date.