Hidroeléctrica de Cahora Bassa (HCB) in Mozambique has secured a loan package of up to EUR125 million (US$131 million) from the African Development Bank Group to fund the modernization of its electricity power production system.
HCB is the largest Independent Power Producer (IPP) in Southern Africa, supplies Mozambique and the Southern African Development Community (SADC). The modernization will extend the life of the hydropower project by at least 25 years, improve the reliability of energy delivery, reduce outages, enable the company to meet its contractual obligations to off-takers and improve SADC electrical sector regional integration. Additionally, it will assure the continued energy security of the Community, particularly South Africa, Mozambique, and Zimbabwe.
The African Development Bank and its Africa Growing Together Fund provided up to EUR100 million (US$105 million) and EUR25 million (US$26.3 million), respectively.
Ncondezi Energy Ltd has announced the launching of a feasibility study for its 300 MW solar and storage project in northern Mozambique.
Read moreThe Government of Mozambique (GOM), acting through the Ministry of Mineral Resources and Energy (MIREME), has extended the deadline for the Mphanda Nkuwa Hydroelectric Project in Tete Province.
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Read moreSasol 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%.
Read moreIFC, 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.
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