Globeleq buys majority stake in 41 MW solar PV power plant in Mozambique from Scatec

  • Globeleq has completed its acquisition of a 52.5 % stake and a 22.5% stake in the 41 MW Central Solar de Mocuba solar PV power plant (Mocuba) in Mozambique from Scatec ASA and KLP Norfund respectively.
  • Electricidade de Moçambique (EDM), the national power company of Mozambique, continues to hold the remaining 25% stake in the plant.

The Mocuba solar power plant is located in the Zambézia Province of Mozambique and was commissioned in August 2019. The project has an annual production of approximately 75 GWh and holds a 25-year PPA with the state-owned utility, EDM. As part of the transaction, Globeleq will assume responsibility for operations & maintenance and asset management services for the power plant.

This acquisition significantly expands Globeleq’s renewable energy footprint in Mozambique and comes just weeks after the company successfully started commercial operations at its 19MW solar and 7MWh energy storage project at Cuamba.

Elsewhere in Mozambique, Globeleq is constructing a major 450 MW gas-to-power project at Temane which will substantially expand the Mozambican national grid when it starts to produce power at the end of 2024. This will provide vital baseload power to support and enable additional renewable power projects. At the same time, the Temane Transmission Project is constructing a 563km, 400kV transmission line which will provide a vital link to the Southern section of the Mozambican national grid. Globeleq is also making good progress with its 120 MW wind project at Namaacha, near Maputo, which is expected to reach financial close in 2024.

Author: Bryan Groenendaal

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