MOZAMBIQUE: Ncondezi Energy relaunches its 400 kWp solar off-grid project
Ncondezi Energy’s off-grid solar project in Mozambique is back on track. The energy producer announces the resumption of work, carried out by its subsidiary Ncondezi Green Power (NGP). The company had to stop work a few months ago, at the height of the health crisis caused by Covid-19. The company benefiting from the new facilities has declared itself unable to open the construction site for the solar power plant due to travel restrictions imposed by the Mozambican government during the health crisis.
The suspension of the works resulted in additional costs which the company’s general management decided to cover. The $ 500,000 will be provided by President Michael Haworth ($ 50,000) and Managing Director Hanno Pengilly ($ 100,000). The remaining $ 350,000 is provided by Scott Fletcher, representing the investors of Ncondezi Energy. According to the London-based company, the bridging loan is subject to finalization and execution of full loan agreements, which are due to expire in March 2021. The additional funding will be allocated to NGP.
Commissioned in June 2021
“This is the first of our portfolio of green energy assets for C&I customers to be near completion and is expected to generate short-term revenue for the company. As the impact of Covid-19 delayed the project delivery schedule, the demand for sustainable energy solutions, which provide increased energy security while reducing costs, has further increased ”, says Hanno Pengilly, Managing Director of Ncondezi Energy.
The off-grid solar power plant that the company is building will have a capacity of 400 kWp with a 912 kWh storage system. The solar photovoltaic system is expected to provide 600 MWh per year, while reducing the CO emissions of the beneficiary company2 of about 517 tonnes over the same period. Ncondezi Energy plans to commission its photovoltaic solar power plant before the end of June 2021.