3 °c
London
Tuesday, April 20, 2021
No Result
View All Result
FurtherAsia FurtherArabia FurtherBrazil FurtherRussia
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

IFC finances Mozambique’s first solar plant with $55 million

FurtherAfrica by FurtherAfrica
June 8, 2017
in Africa, Aid, Banking, Development, Economy, Energy, Environment, FDI, Finance, Mozambique, Natural Resources
Reading Time: 1 min read
0
IFC finances Mozambique’s first solar plant with $55 million
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

The 40 MW project, which is being developed by Norwegian developer Scatec along with investment fund KLP Norfund Investments, is the country’s first large-scale solar facility.

The International Financial Corporation, a member of the World Bank, has agreed to provide financial support of $55 million for a 40 MW PV project in Mozambique.

The company said the loan includes $19 million from IFC’s own account, $19 million from Climate Investment Funds, and a syndicated loan of up to $17 million. IFC stressed that the funds were mobilized by the Emerging Africa Infrastructure Fund, a public-private partnership providing long-term debt finance for construction and development of private infrastructure in sub-Saharan Africa.

The project is being developed by Norway-based independent power producer Scatec Solar, Norway’s development finance agency Norfund, and Mozambique’s power utility Electricidade de Moçambique (EdM).

Power generated by the installation will be sold to EdM under a 25-year PPA. The plant will be constructed close to the city of Mocuba in the Zambezia Province, and represents the country‘s first step towards solar deployment.

Scatec announced the project in November of 2016. At the time, the company said $80 million will be needed for the development of the project, with Scatec Solar taking on 52% of the debt, KLP Norfund Investments taking on 22.5% and EDM taking on the remaining 25%.

Source: PV Magazine

Related

Tags: EDMElectricidade de MoçambiqueElectricityEnergyIFCKLP Norfund InvestmentsMocubaNorfundNorwayPPArenewable energyScatec Solarsolar powerZambézia
ScanSendShare320Tweet200Share56Pin72Send
Previous Post

Coal India awaits exploration rights for new coal blocks in Mozambique

Next Post

Financial restructuring of Angola’s largest bank has a monitoring committee

FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Ethiopia’s Assela wind farm project enters construction
Renewables

Eastern and Southern Africa’s vast renewables potential offers route to sustainable growth

by Staff
April 20, 2021
Coronavirus

Ethiopian Airlines delivers COVID-19 vaccine to Brazil; over 20 million doses delivered worldwide

by Staff
April 20, 2021
Mozambique

Mozambique: Metical appreciated 35% this year, but earnings expected to reverse – Standard Bank

by FurtherAfrica
April 20, 2021
Wilderness Safaris opens the new DumaTau camp in Botswana
Tourism

Wilderness Safaris opens the new DumaTau camp in Botswana

by BOTSWANA UNPLUGGED
April 20, 2021
Zimbabwe secures US$98M for Brazilian irrigation equipment
Agriculture

South Africa: agribusiness in 2020 and what to expect in 2021

by Farmers Review Africa
April 20, 2021
Next Post
Understanding: Opening and Operating Deposit Accounts Held by Non-Residents in Angola

Financial restructuring of Angola’s largest bank has a monitoring committee

Mozambican capital hit by shortage of health personnel

Mozambican capital hit by shortage of health personnel

Chinese companies present investment projects in Mozambique

Chinese group CITIC analyses new investments in Angola

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

2021 AFSIC
2022 Indaba Mining

FurtherAfrica Partners

The Exchange Club of Mozambique Taarifa Rwanda
CrudeMix Africa TechGist Africa Farmers Review Africa
Botswana unplugged Financial Insights Zambia Africa Oil & Power
Harambee Africa Novafrica  

Subscribe to FurtherAfrica

Enter your email address to receive notifications of new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

© 2021 FurtherMarkets

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?