https://newsletter.en.creamermedia.com
Africa|Building|Financial|Gas|generation|Power|PROJECT|Solar|Power Generation|Power-generation
Africa|Building|Financial|Gas|generation|Power|PROJECT|Solar|Power Generation|Power-generation
africa|building|financial|gas|generation|power|project|solar|power-generation|power-generation-industry-term

US lends $99m to Mozambique’s first wind-power project

10th July 2024

By: Bloomberg

  

Font size: - +

The US International Development Finance Corp (DFC) approved a loan of as much as $99-million to help finance Mozambique’s first utility-scale wind-power project.

DFC will also provide $80-million in political risk insurance to Globeleq Africa, which is developing the 120 MW project near Namaacha in the south of the nation, the lender said in an emailed statement Tuesday. The project will require a total of about $268-million in funding, according to the DFC’s website.

The southern African nation of more than 33-million people is mostly reliant on a single hydroelectric dam for its power generation.

The wind-power plant, located about 50 km west of Maputo, Mozambique’s capital, will reach financial close this year, according to Globeleq.

The developer, majority owned by British International Investment, the UK government’s development-finance arm, has a growing presence in Mozambique. It’s building a 450 MW gas-fired power plant in Inhambane province and has built two solar plants with a joint capacity of 60 MW.

Edited by Bloomberg

Comments

Projects

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 22 November 2024
Magazine round up | 22 November 2024
22nd November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.215 0.314s - 232pq - 2rq
Subscribe Now