Ncondezi Energy to study concept for 300-MW solar-plus-storage project in Mozambique

The Mocuba solar power plant in Mozambique. Source: Scatec Solar

July 15 (Renewables Now) - African power development company Ncondezi Energy Ltd (LON:NCCL) said today it has launched a feasibility study for an up to 300-MW solar-plus-storage project within the site of a coal-based thermal power plant project in northern Mozambique.

Engineering services and technical consultancy firm WSP Group Africa (Pty) Ltd will carry out the feasibility study which is expected to take around four months to complete. All required permissions for the investigation are in place.

The photovoltaic (PV) park is planned to be installed within the Ncondezi mining concession in Tete Province’s districts of Moatize and Chiuta. The selected site is one of three preferred locations that the African company has identified, each with a generation potential of roughly 500 MW.

Ncondezi expects the proposed solar park to be able to deliver first power to the grid as early as 2024. Its plan is to secure off-takers in Mozambique and the Southern African Power Pool. The fully diluted cash flow from the project is seen in the range of USD 130 million (EUR 128.7m) to USD 180 million over its 25-year lifespan.

“Initial financial projections for the Solar Project indicate significant value upside, and we expect it to attract a broad range of investors,” said Hanno Pengilly, Ncondezi’s CEO.

(USD 1.0 = EUR 0.990)

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Veselina Petrova

Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription
\