1061022E – NCONDEZI COMPLETES SOLAR PROJECT FEASIBILITY STUDY
London, 31 Oct (AIM) – The London-based company Ncondezi Energy announced on Monday that the final draft of its feasibility study into its proposed integrated 300-megawatt solar power and battery storage project in the western Mozambican province of Tete confirms its technical and economic viability.
The feasibility study also finds that there is a phased expansion potential of between 30 and 300 megawatts, with a strong solar resource of 1,980kWh/m2 and a high energy yield of over 2,000kWh/kWp.
In a statement, Ncondezi notes that the feasibility study indicates that the phased construction will enable to project to deliver its first power of up to 60 megawatts within 18 months of achieving Financial Close, with the full 300 megawatts deliverable over 28 months.
Ncondezi’s Chief Executive Officer, Hanno Pengilly, welcomes the study’s findings which have “confirmed a technically viable project with a number of advantages capable of driving a competitive power tariff whilst maintaining a robust investment return”.
He adds that “the Solar Project is expected to benefit from favourable site conditions which will help lower costs and maximise energy yields. Transmission studies confirm multiple feasible connection solutions to strategically connect into the grid with potential to distribute through the Mozambican northern grid as well as the wider Southern African region”.
Ncondezi plans to connect the project to Mozambique’s grid with customers also coming from the Southern African Power Pool (SAPP). It stresses that it “is focused on providing reliable and affordable energy to Mozambique to meet growing energy demands”. In particular, it highlights the fact that its project supports the Mozambican government’s energy strategy of universal electricity access by 2030, adding that “our projects would provide reliable and available power helping to close the infrastructure gap of the region and serving as a catalyst for economic development”.
The Solar Project will be located within the Ncondezi mining concession 5967C which covers over 25,000 hectares in the districts of Moatize and Chiuta in Tete Province.
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