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Ncondezi Green Power has signed an agreement with Captive Power to develop C&I solar projects in Mozambique.
- Ncondezi could invest in six potential projects with a total installed capacity of 2.8 MWp and 6.2 MWh of battery storage.
- Ncondezi and CPL would work together to develop current and future pipeline projects.
Ncondezi Energy’s renewable energy subsidiary Ncondezi Green Power (NGP) has signed a binding relationship agreement with Captive Power (CPL). As part of the deal, Ncondezi has the right to fund a pipeline of commercial and industrial solar and battery storage projects in Mozambique. CPL provides off-grid clean energy services for commercial and industrial consumers in Africa. The company is strongly focused on developing projects in Mozambique.
Ncondezi said the projects under the agreement includes a “diversified portfolio” of six potential projects in Mozambique, with a cumulative potential installed solar capacity of 2.8 MWp and 6.2 MWh of battery storage. CPL would be responsible for all costs incurred up to a project meeting the key performance indicators, and Ncondezi exercising its right to invest.
Ncondezi CEO Hanno Pengilly noted that the new relationship agreement with Captive Power is a no-cost solution that ensures that the company retains access to a commercial and industrial project pipeline in Mozambique. “CPL’s management team has a strong track record in the sector operating and building relationships in Mozambique, and we look forward to working with them on current and future pipeline projects as we grow our renewable commercial and industrial business,” Pengilly added.