Mozambique solar plant ground-breaking event marks 22nd renewable energy project for EAIF
On 14th June, Mozambique’s Minister of Mineral Resources and Energy, Dr Ernesto Max Tonela, was the official guest at a ground-breaking ceremony to mark the beginning of work on a new 15MW solar electricity plant in the Tetereane District of the city of Cuamba. Financial close is expected shortly, when the Private Infrastructure Development Group (PIDG) company, the Emerging Africa Infrastructure Fund (EAIF), is scheduled to announce a US$19 million loan to the project. Cuamba will be the 22nd renewable energy project supported by EAIF and the first with utility scale battery storage.
The owner and operator of the Cuamba plant is Central Electrica de Tetereane SA (CET) whose majority shareholder is Globeleq, the London-based business that specialises in the African power sector. EAIF is the sole lender to CET. CET has been awarded a US$7 million Viability Gap Funding grant by PIDG TA. CDC, a shareholder in Globeleq, has provided another grant.