C&I solar battery storage project in Mozambique to resume

Construction of 400kWP Commercial and Industrial (C&I) solar and 912kWh battery storage project in Mozambique is set to resume this month. African power development company Ncondezi Energy Ltd, Chief Executive Officer, Hanno Pengilly revealed the report and said that commissioning of the project has been scheduled for June this year.

“This is the first of our pipeline of green energy C&I assets to near completion and is expected to provide near term revenue for the Company. Although the impact of COVID-19 delayed the Project delivery timetable, the demand for sustainable energy solutions that provide increased energy security whilst also reducing costs has become more robust. Corporates globally are implementing aggressive net zero emission reduction policies which are outpacing Government targets by up to 20 years,” said Pengilly.

Ncondezi is an African power development company with an advanced staged, integrated 300MW thermal coal power plant and mine project located in the Tete Province, Northern Mozambique.

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Mozambique’s energy strategy

“Ncondezi’s early entry into this sector in 2019 has positioned it to take advantage of this with what is believed to be the largest fully off-grid solar and battery storage project in Mozambique. I believe this is an innovative, new high growth sector which complements our baseload power project and one in which we can become market leaders in a relatively short time frame,” he added.

A US $500,000 Bridge Loan term sheet has been put in place by certain of the Company’s Directors to provide sufficient capital to complete construction and commission the C&I Solar Battery Storage Project.

This project supports Mozambique’s energy strategy of universal electricity access by 2030. According to the World Bank, only 30% of the Mozambican population had access to energy in 2017. The Bridge Loan will be provided directly to Ncondezi Energy‘s wholly owned subsidiary, Ncondezi Green Power, and honours the prior commitments not to dilute shareholders to progress the Company’s C&I strategy.