- Globeleq has commenced construction for its 15 MW solar PV plant in Mozambique.
- The plant will be the country’s first IPP with an integrated storage system.
- The project is expected to cost $32m.
Renewable energy developer Globeleq Africa Limited has started construction on a 15-MW solar PV plant in Mozambique. The PV plant will have a 2-MW/7-MWh energy storage system. The project, which costs $32 million, is being developed by Globeleq, Cuamba Solar plant and the state-owned electricity utility EDM and private equity investor Source Energia.
Globeleq intends to obtain $19 million via debt funding from the Emerging Africa Infrastructure Fund (EAIF), a $7 million grant from the Private Infrastructure Development Group (PIDG) via its viability gap funding (VGF) grant facility and $1 million from CDC Plus.
The project is sited in the Tetereane District in Cuamba City. The project will be the country’s first IPP with a utility-scale energy storage system. Globeleq will sell the power produced to the state utility EDM under a 25-year power purchase agreement (PPA).