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The financing guarantees for the construction of the Mphanda Nkuwa Hydroelectric Plant in Mozambique will be secured by the end of this year, said the director of the project office, Carlos Yum.
The Mozambican government recently approved a resolution authorising state-owned power utility Electricidade de Moçambique to acquire 70% of the Mphanda Nkuwa Hydroelectric Plant. The project has budgeted for USD 5 billion (4.5 billion euros).
The financing guarantees for the construction of the Mphanda Nkuwa Hydroelectric Plant in Mozambique will be secured by the end of this year, said the director of the project office, Carlos Yum.
Carlos Yum further stated that of the total amount of billion USD billion needed for the construction of the infrastructure, USD 1.3 billion (1.1 billion euros) will be disbursed by the consortium that will operate the project and the remainder by financial institutions that will ensure the “financial closure” by the end of this year.
The project will consist of a hydroelectric plant with a production capacity of 1,500 MegaWatts (MW) and a high-voltage transmission line measuring 1,350 to 1,400 kilometres, which will run from Tete, in central Mozambique, to Maputo, in the south.
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The infrastructure construction considers the dimensions of environmental, social, economic and financial sustainability, based on interaction with all relevant parties, including the communities in the region where the project will be built.
