Mozambique: Positive signs for Ncondezi solar project

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Mozambique: Positive signs for Ncondezi solar project

2:54 CAT | 30 Sep 2022

The Solar Project will be located within the Ncondezi mining concession 5967C which covers over 25,000 hectares in the districts of Moatize and Chiuta in Tete Province.

The London-based company Ncondezi Energy announced on Thursday that the initial results of a feasibility study into its proposed integrated 300-megawatt solar power project in the western Mozambican province of Tete have found that sufficient sunlight is available with the first power possibly available to the electricity grid as early as 2024.

In a statement released through the London Stock Exchange, the company reveals that preliminary studies have confirmed a solar resource of 1,980 kWh/m2 which it describes as “excellent irradiation results”. It adds that “energy yield over 2,000kWh/kWp confirms top tier performance potential”.

According to Ncondezi’s Chief Executive Officer, Hanno Pengilly, “initial results from the solar project study are very positive, confirming the project’s excellent location for solar generation with no red flags identified”.

He added, “with completion of the feasibility study on track for the end of October 2022 the next step will be to finalise the solar project concept, design, and financial model. These will confirm the target tariff offer for potential offtaker partners. Initial discussions with multiple potential offtaker partners have commenced and we believe we will be able to offer an attractive energy solution through speed of execution and competitive tariff pricing”.

Ncondezi plans to connect the project to Mozambique’s grid with customers also coming from the Southern African Power Pool (SAPP). It stresses that it “is focused on providing reliable and affordable energy to Mozambique to meet growing energy demands”.

The company highlights its role in meeting the Mozambican government’s energy strategy of providing universal electricity access by 2030, adding that “our projects would provide reliable and available power helping to close the infrastructure gap of the region and serving as a catalyst for economic development”.

The Solar Project will be located within the Ncondezi mining concession 5967C which covers over 25,000 hectares in the districts of Moatize and Chiuta in Tete Province.

Source: AIM