Mozambique: Sweden has invested 200 million dollars in electricity projects
Ncondezi Energy sells Mozambique Green Power for $1.3 Million
2:42 CAT | 03 Dec 2021
Image: For Illsutration purposes only. [ Ncondezi]
Ncondezi Energy Ltd. said Friday that it has agreed to sell Mozambique Green Power to Green Energy SPV PLC for $1.3 million.
The African power-development company said the money from the transaction will be used to repay the bridge loan due Tuesday and for additional working capital.
Mozambique Green Power owns a battery-storage project in Mozambique.
The company said that Green Energy is a newly-formed business controlled by Ncondezi Energy Nonexecutive Director Scott Fletcher.
Read: Mozambique: Ncondezi signs EPC contract for coal-fired power plant with China Machinery Engineering
400kWP solar and 912kWh battery storage project in Mozambique on track – Ncondezi
Source: MarketWatch
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