Investors Sought For Mozambique Hydro Project
Renewables in Africa (RiA) is looking for equity investors for a 168MW hydropower project in rural Mozambique.
The total project cost is estimated at US$440 million, with a debt-to-equity ratio of 70:30. The investment required is US$13 million in equity to advance the scheme to financial close.
According to RiA, the scheme has the backing of reputable African financial institutions, and the output will be sold under a 30-year power purchase agreement (PPA) with public utility Electricidade de Mocambique (EDM).
The project is positioned less than 8km from a grid connection.
Interested investors are requested to contact RiA at tony@renewablesinafrica.com.
RiA is a clean energy company that provides project origination and development services.
Renewable energy is a key component of Mozambique's US$80 billion energy transition plan, officially launched in December 2023 at the COP28 climate conference in the UAE.
The strategy's first pillar concerns the development of a modern energy system based on renewable energy. This entails expanding the national grid to support increased clean energy production from hydro, solar and wind resources, with the aim of eliminating fossil fuels from the generation mix.
More than 75% of the energy consumed in Mozambique is sourced from hydropower.