• Shine on

    Shine on

    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

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