Mining & Energy
Battery Minerals sits on $10bn worth of vanadium in Cabo Delgado, Mozambique
Maauhub (File photo)
The Gigawatt power company could invest up to US$700 million in expanding electricity production in Mozambique, potentially making the country the SADC’s largest producer of energy from natural gas.
The US$700 million sum would more than triple the initial invested in the Gigawatt installation at Ressano Garcia, estimated at US$200 million. If taken forward, the investment would increase current capacity from 120 to 350 megawatts per year and triple the company’s workforce.
“The 350 megawatts we would produce here, plus the 174 megawatts produced by CTRG and some Grecco energy we produce, would make us one of the SADC’s largest producing centres based on natural gas,” Nazário Meguigy, director of operations at Gigawatt, said.
In the meantime, the economic crisis the country is going through is limiting the company to increasing production by just 60 megawatts, valued at about US$120 million dollars.
Of the 120 megawatts Gigawatt currently produces, 100 are delivered to the national grid through Mozambique Electricity (EDM) and the remaining 20 megawatts go to the reserve and maintaining the company’s equipment.
Clean energy projects underway in Mozambique and Uganda