- The operation is expected to scale from an initial 100MW to 300MW.
- These results are derived from the recently announced positive FS [feasibility study] results which confirm the project’s technical viability and strong solar resources.
Ncondezi Energy Ltd has provided updated guidance on the financial potential of its planned solar and battery energy storage project in the Tete Province of Mozambique. The operation is expected to scale from an initial 100MW to 300MW, resulting in cash flows over the 25-year life of the assets of US$186mln, rising to US$400mln at 200MW and US$584mln at 300MW.
The pre-money net present value of the project at a 10% discount rate is put at US$23mln based on 100MW rising to US$51mln, then US$75mln at 300MW. The capital expenditure required to build the project is put at US$173mln for 100MW, US$347mln for 200MW and US$464mln for 300MW.
Hanno Pengilly, Ncondezi’s chief executive, said, “Ncondezi’s updated valuation forecasts further confirm the value potential of our Solar Project to shareholders and new investors. These results are derived from the recently announced positive FS [feasibility study] results which confirm the project’s technical viability and strong solar resources. Also, Ncondezi said it raised £520,000 net of expenses via a share placing.