South Korean group Hyosung has signed a contract worth 93 billion won (US$85 million) with the Mozambican government to supply energy solutions, the group said in a statement posted on its website.
Under the terms of the contract the group will build a solar power plant with a capacity of 1.3 megawatts worth 35 billion won for the Mozambican Energy Fund (Funae).
The Korean group will also supply state power company Electricidade de Moçambique (EdM) with electrical cables and generators, in a deal worth 58 billion won.
These two contracts will be paid for with funding from the South Korea Export Import Bank (ExIm).
The solar power plant, which the Hyosung group said would be the largest of its kind in Africa, is expected to start operating at the end of 2014. (macauhub)