Mozambique: Seven groups shortlisted for new $4.5B hydroelectric dam in Tete province – Lusa

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Mozambique: Seven groups shortlisted for new $4.5B hydroelectric dam in Tete province – Lusa

4:25 CAT | 30 Sep 2022

Illustrative photo. [In file CoM]

The director general of the Mphanda Nkuwa hydroelectric dam project has announced that the seven investors for the financing and implementation of the US$4.5 billion project in central Mozambique have been shortlisted.

According to Malaysian newspaper ‘The Star’, the process of selecting the seven potential investors was made at the end of an investor conference on Tuesday in Maputo, at which the project director, Carlos Yum, said that later this week investors would visit the site in Tete province.

The newspaper does not specify which are the seven investors, or their nationalities, saying that they are two individual companies and five large consortiums, and adds that the visit to the site will allow investors to understand the natural conditions of the area and assess the fundamental data to prepare proposals from a technical, economic and financial point of view.

The infrastructure is expected to cost between US$4.5 and US$5 billion and have capacity to produce 1,500 megawatts, making Mphanda Nkuwa the second-largest hydroelectric dam in the country, after Cahora Bassa Hydroelectric (HCB), which generates 2,070 megawatts.

With the two infrastructures added to other fully operational energy production ventures, Mozambique hopes to achieve the goal of universal access to energy and respond to the growing energy deficit that plagues southern Africa.

In April, Lusa reported, citing a government source, that there were eight international consortiums then interested in being strategic partners of Mozambique in building the Mphanda Nkuwa dam, with electricity production: ETC Holdings Mauritius, Longyuan Power Overseas Investment, PowerChina Resources, PowerChina Resources, WeBuild Group, Scatec, Sumitomo Corporation, EDF and Kansai Electric Power.

READ: Eight consortia express interest in Mphanda Nkuwa – AIM report

Source: Lusa