A partnership agreement for the construction of 4 50 MW mini solar power plants in Mozambique has been signed. The agreement was signed by the International Finance Corporation (IFC) and the public business Electricidade de Moçambique (EDM).
This agreement comes at a time when the Southeast African country is relying on solar energy in order to diversify its electrical mix. The country also aims to utilize the energy to quicken the electrification of its population. According to Power Africa, just 29% of Mozambicans have access to power, with 13% living in rural regions.
Despite this, the country has an installed capacity of 3,000 MW and depends in part on hydropower, which supplies 75% of the nation’s electricity. However, during dry spells, the dams’ level decreases, which impacts energy generation.
Details of the partnership for the 4 50 MW mini solar power plants in Mozambique
As part of the agreement, IFC will first order a study on grid integration and financial evaluation.
“Providing access to affordable, sustainable, and dependable power is a top objective for Mozambique. IFC is therefore working with EDM to help the country develop its renewable energy sources to power homes and businesses. This will be achieved through a combination of early-stage project development support and financing,” explained Dan Croft.
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The latter is IFC’s Regional Director for Infrastructure in Africa on the Upstream team that focuses on early-stage project development.
According to Marcelino Gildo Alberto, the Mozambican government also seeks to diversify the nation’s electrical mix while adding 200 MW of power in the upcoming months. Alberto is the director-general of EDM. The publicly traded firm has announced an investment of US$ 40M. This announcement is a part of the French Development Agency’s (FDA) Programme for the Promotion of Renewable Energy by Auction (PROLER).
