Scatec closes sale of 40 MW solar plant in Mozambique
Scatec ASA has closed the divestment of its 52.5% equity share in the 40 MW Mocuba solar power plant in Mozambique to Globeleq for USD 8.5 million. The transaction will generate a net accounting gain of approximately USD 4 million on a consolidated basis and USD 3 million on a proportionate basis.
The Mocuba solar power plant, situated in Mozambique's Zambézia Province, commenced operations in August 2019. With an annual output of around 75 GWh, the project holds a 25-year Power Purchase Agreement (PPA) with the state-owned utility, EDM.
In the course of this transaction, Globeleq is set to take on the responsibilities for operations and maintenance, as well as asset management services for the power plant. Globeleq operates as an independent power producer in Sub-Saharan Africa, boasting a power production capacity exceeding 2.1 GW either in operation or under construction. The company is predominantly owned by British International Investment (70%) and Norfund (30%).
Country updates
-
-
December 08, 2023
AfDB Approves US$33.3 million Grant For Mozambique Transmission Line Project
The African Development Bank (AfDB) has approved a US$33.3 million grant to implement the Songo-Matambo electricity transmission line project in the Tete province in west-central Mozambique. The proj...
Read more -
September 25, 2023
Operation started of 19 MW Cuamba solar photovoltaic power plant in Niassa
Mozambique’s government has inaugurated the 19 MW Cuamba solar photovoltaic (PV) power plant in Niassa province in the northwest of the country. Cuamba Solar PV represents Mozambique's ina...
Read more -
August 01, 2023
Scatec divests equity share in 40 MW solar PV project in Zambezia
Scatec ASA has announced an agreement with Globeleq, wherein Scatec will sell its 52.5% equity share in the 40 MW Mocuba solar power project, located in Mozambique's Zambézia Province, for a to...
Read more -
January 16, 2023
Ncondezi secures land deal for 300 MW solar-plus-energy storage project in Tete
Ncondezi has closed a land agreement that will be used for the construction of the 300 MW solar photovoltaic with energy storage project located in the province of Tete in Mozambique. The...
Read more -
December 12, 2022
Financing provided for 2.07 GW Hydropower project in Mozambique
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 e...
Read more
