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Mozambique to develop first solar PV power plant

Mozambique is gearing up to develop its first solar photovoltaic (PV) power plant, funded by a consortium of financiers.

The International Finance Corporation (IFC) has promised $19 million in funding as part of a $55 million package to support the new utility in Mocuba, Africa Times reported.

According to Africa Times, in addition to the IFC pledge, the funds include $19 million from Climate Investment Funds, and a loan of up to $17 million.

“The signing of the Mocuba financing is a great achievement for EdM and Mozambique’s electricity sector,” said Mateus Magala, Chairman of EdM.

Magala extended his gratitude to the financing partners for “their excellent cooperation and the hard work in getting the project to this important milestone.”

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