now loading...
Wealth Asia Connect Treasury & Capital Markets Europe ESG Forum TechTalk
Asia Connect
Ncondezi Energy signs land deal for Mozambique hybrid solar system
Power developer secures rights to 950-hectare site for 300MW project
Michael Marray 18 Jan 2023

African power development company Ncondezi Energy has signed a land agreement with the government of Mozambique for a 300-megawatt hybrid solar project.

Comprising solar assets and a battery energy storage system, the project aligns with the government’s overall strategy of achieving universal access to electricity by 2030.

With the signing of the agreement, Ncondezi Energy has secured the exclusive rights to a 950-hectare land for the project.

“The signing of the agreement represents a critical permitting requirement for the project, reflecting both strong local support and the expedited process we are executing since announcing the positive feasibility study last October,” says Hanno Pengilly, chief executive officer of Ncondezi Energy.

A transmission integration study to connect the project to the grid has also been approved by Electricidade de Mocambique. An update on a preferred transmission solution to connect to the grid is expected in the next two months.

The solar project is strategically positioned from a transmission perspective, and will be able to feed power into the Mozambican northern grid, as well as participate in cross-border power trading within the Southern African Power Pool.

Less than half of Mozambique’s population has access to electricity.

Conversation
Nneka Chike-Obi
Nneka Chike-Obi
head of APAC ESG ratings and research
Sustainable Fitch
- JOINED THE EVENT -
6th ESG Summit
Beyond the hype
View Highlights
Conversation
Stephanie Choi
Stephanie Choi
sustainable and impact investing strategist
UBS Global Wealth Management Chief Investment Office
- JOINED THE EVENT -
4th ESG Summit Webinar Series - Part 1
Paving the way toward net zero
View Highlights