The people of Mozambique will soon be able to rely on more than just its Cahora Bassa hydroelectric scheme, which produces most of the country’s power.

While a project to build a gas-fired power station is already under way and two solar plants are operational, the country has now secured a US$99 million loan to build its first utility-scale wind power station.

Moneyweb reports that the US International Development Finance Corporation, which approved the loan, is also providing US$80 million in risk insurance to Globeleq Africa, the company developing the 120 MW wind power station in Namaacha, 80 km west of Maputo.

The wind project has a total pricetag of US$268 milllion.

UK-based Globeleq is already building a 450 MW gas-fired power plant in the Inhambane province and operates two solar plants with a total capacity of 60MW.

16 July 2024
Image: Freepik