Central Solar de Mocuba S.A.
- Active: Active
- Region: Africa
- Country: Mozambique
- Sector: Energy - solar
- Year: 2016
- Domicile: Mozambique
- Instrument: Equity and loan
- Commitment (MNOK) as of 31.12.2019: 78.1
- Original Commitment (MNOK): 82.8
Mocuba is a 40 MWp solar PV project in Mozambique. KLP Norfund Invest has committed 23.5% of the equity capital, and Norfund is providing a set of guarantees towards Government and lenders to support the project. The project is expected to start construction in 2018.
Central Solar de Mocuba is a planned 40 MW solar plant located close to the city of Mocuba in the Zambézia Province. The plant is expected to deliver 77,000 MWh per year and will deliver power to the national grid and produce enough energy to serve about 175 000 households.
In October 2016, Scatec Solar and Norfund signed a Power Purchase Agreement securing the sale of solar power over a 25 year period to the state-owned utility Electricidade de Mozambique (EDM).
The project is the first large-scale solar plant to be built in the country and represents an important first step in realizing Mozambique’s ambition to increase renewable power generation in its energy mix.
The required project investment is estimated at USD 80 million. Scatec Solar (52.5%), KLP Norfund Investments (22.5%) and EDM (25%) will provide equity, while IFC, the International Finance Corporation, a member of the World Bank Group, and the Emerging Africa Infrastructure Fund intend to provide project finance debt. The parties are targeting financial close and solar plant construction starts in the first quarter of 2017.