- The London-listed African power-development company, Ncondezi Energy, has announced that it will be launching a feasibility study for its solar photovoltaic and battery energy storage system project in Mozambique.
- The study will take four months to complete and will be led by WSP Group Africa Pty.
The company said it estimated a premoney net present value, or NPV, for the project of between $60 million and $65 million, and fully diluted cashflows of between $130 million to $180 million over a 25-year period.
“The solar project represents a significant opportunity to further define the project and crystallize additional value for shareholders,” Chief Executive Hanno Pengilly said.
In May this year Ncondezi Energy announced a successful internal review of its proposed 300MW coal power project in the western Mozambican province of Tete which found that there is also the potential for grid scale solar/battery hybrid project. In a statement through the London Stock Exchange, the company reveals that preliminary studies have confirmed that the site has favourable solar conditions and access to Mozambique’s electricity grid.
Ncondezi argues that a solar project is feasible without compromising the delivery of the company’s main project, which is a 300MW power station using coal from its open cast mine.
Author: Bryan Groenendaal
