Sasol Limited and Electricidade de Moçambique (EDM) have successfully refinanced the Central Térmica de Ressano Garcia S.A. (CTRG) joint venture project, a 175 MW gas-fired power plant in Mozambique. EDM holds a 51% stake in the project, with Sasol holding the remaining 49%.
Energy Finance & Investment News in Mozambique
IFC, a member of the World Bank Group has announced a landmark financing package of US$55 million to build Mozambique’s first utility scale solar PV plant, which will help increase electricity sector climate resilience and deliver power to rural areas. It includes US$19 million from IFC’s own account, US$19 million from Climate Investment Funds, and a syndicated loan of up to US$17 million.
The National Petroleum Institute (NPI) has announced that the government of Mozambique, which has vast offshore gas resources, has awarded gas development projects in the Rovuma gas basin to Norway's Yara International, Shell Mozambique and GL Energy Africa.
Inspired Evolution, has successfully exited a number of its renewable energy investments held in its Evolution One Fund portfolio.
Scatec Solar and Norfund has signed a Power Purchase Agreement securing the sale of solar power over a 25 year period to the state owned utility Electricidade de Mozambique (EDM).
The International Finance Corporation (IFC), a member of the World Bank, has disclosed on its website that is considering financing a 40.5 MW solar PV in Mozambique.
Norton Rose Fulbright is appointed international legal counsel on South African interconnector project
Norton Rose Fulbright, is advising the Southern African Power Pool (SAPP) on the development of the regional interconnector transmission line between Mozambique, Zimbabwe and South Africa (MoZiSA).
Mitsui & Co., Ltd. and its joint venture partners in Mozambique's Rovuma Offshore Area 1 Block have selected the Engineering, Procurement and Construction (EPC) contractor for the initial development of the onshore LNG park.
Ncondezi Energy Limited has signed a non-binding Memorandum of Understanding (MoU) with Shanghai Electric Power Company Limited (SEP) to progress and agree a transaction where SEP could potentially become the controlling shareholder in the 300 MW coal fired power plant, the Ncondezi Power Project, located near Tete in northern Mozambique.
Mozambique, through its regulatory agency, the Institute of National Petroleum (INP), has issued a competitive tender process for 15 oil & gas exploration licenses.