The Cuamba Solar and Energy Storage plant project received funding from The Emerging Africa Infrastructure Fund, which is part of the Private Infrastructure Development Group (PIDG). They provided $19 million in debt funding. Additionally, PIDG’s Viability Gap Funding grant facility chipped in with an extra $7 million to help keep the energy costs low, upgrade the grid, and set up an energy storage system for EDM. BII Plus, a technical assistance facility from British International Investment, offered a $1 million grant for the battery energy storage system.
During the inauguration event, President Filipe Nyusi emphasized the importance of the Cuamba solar and storage plant in improving energy security and stability in the region. He praised the collaboration between Globeleq, Source Energia, and EDM as a partnership between the government and private companies, showing international investors’ confidence in Mozambique’s energy sector.
Hon. Carlos Zacarias, the Minister of Mineral Resources and Energy, highlighted how the project contributes to increasing the availability of energy through both public and private investments. This aligns with the government’s strategic goals and the Five-Year Programme, which aims to boost industrialization, create jobs, and transition to cleaner energy sources.
Mike Scholey, the CEO of Globeleq, expressed his enthusiasm for the Cuamba Solar project, highlighting its contribution to the Mozambican power grid, support for the local economy, and alignment with the government’s renewable energy goals. Globeleq is dedicated to similar projects in Mozambique, such as the Mocuba solar PV plant and the Temane gas-to-power project, which are currently in progress.
Construction cost for Cuamba Solar and Energy Storage plant
The Cuamba Solar facility, funded with $36 million, marks Globeleq’s first-ever greenfield project in Mozambique and their inaugural integrated solar and storage system in their active portfolio. This plant operates based on a 25-year power
Pedro Coutinho, the CEO of Source Energia, expressed his contentment in aiding the growth of Mozambique’s energy sector and extended gratitude to project partners and funders for their dedication during the development and construction phases.
Marcelino Gildo Alberto, Chairman of EDM, emphasized the project’s crucial role in providing sustainable and accessible energy solutions, aligning with the government’s Five-Year Plan to introduce 200MW of renewable energy. This initiative also supports global efforts to combat climate change.
The Cuamba Solar and Energy Storage Plant symbolizes the commitment of all stakeholders in accelerating Mozambique’s transition to sustainable and accessible energy solutions, marking a significant milestone in the country’s journey towards renewable energy.
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