Economy Energy Finance Industry Infrastructure Mining Mozambique Natural Resources Uncategorized

Ncondezi granted another extension by EdM

Aim-listed energy provider Ncondezi Energy has once again been granted an extension for meeting certain conditions relating to the conditional commercial deal signed between it and power utility Electricidade de Moçambique (EdM) for its 300 MW power plant.

Ncondezi was establishing an integrated thermal coal mine and power plant project in northern Mozambique.

In March, the company reported that it had been granted an extension to meet the conditions by September 30. However, following discussions with EdM on September 29, the deadline had again been extended to December 31.

The extension would allow Ncondezi to finalise its development pathway, which included the selection of funding partners and concluding engineering, procurement and construction and operations and management agreements for the power plant, mine and common infrastructure. The company would also use the opportunity to reconfirm project economics, which supported the commercial deal with EdM.

Source: Engineering News

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