The European Union (EU) ambassador to Mozambique, António Maggiore, announced that the organization of countries will invest around 190 million euros in new renewable energy projects in order to harness the potential of the Pearl of the Indian Ocean.

Mozambique has the capacity to generate 15.0GW of hydroelectric power - the highest potential in southern Africa - but only uses just over 2000MW, according to "Notícias".

The country has all the potential to be a benchmark in hydroelectric power generation in the region, even more so with the implementation of the Mphanda Nkuwa dam project (1500MW), associated with Cahora Bassa Norte (1245MW), Boroma (200MW) and Chemba (600MW).

The European representative was speaking on the sidelines of the opening of the business conference on renewable energies organized by the Mozambican Renewable Energy Association (AMER).

On the occasion, Maggiore also recognized the potential of fossil and renewable energy to provide and achieve the goal of universal access to energy and to make development projects viable.

But he also considered that Mozambique needs to determine the energy source to be used, taking into account the cost-benefit ratio.