Mozambican company raises funds to build a solar power plant

26 December 2019

Mozambican company Nyiky Group, Lda already has the necessary funding to build a solar power plant in the municipality of Machabje Macia in Gaza province, south of Mozambique, the company’s chairman told Mozambican daily newspaper Notícias.

Pedro Chamba also said the company had managed to raise approximately US$43 million from unspecified partners, and that the project was in the development phase, which includes drafting financial and economic feasibility and environmental impact studies.

The chairman told the newspaper that the construction works for the power plant would begin in June 2020, and that talks were currently underway with state power company EdM in order to sell the energy produced to the national grid.

The main aim of the project, with a capacity of 20 megawatts and occupying an area of 40 hectares, is the diversification of sources for the production of electrical power and the electrification of Mozambique using renewable energies as well as contributing to an increase in the number of Mozambican citizens with access to electricity. (macauhub)