After a pause in the development of its off-grid project for the industrial and commercial (C&I) sector, due to Covid-19, Ncondezi Energy announces the relaunch of works in Mozambique. The project is implemented by its subsidiary Ncondezi Green Power (NGP) for an expected capacity of 400 kWp.
The solar off-grid project of Ncondezi Energy in Mozambique is back on track. The energy producer announces the relaunch of the works, led by its subsidiary Ncondezi Green Power (NGP). The company had had to stop work a few months ago, at the height of the health crisis caused by the Covid-19. The company benefiting from the new installations declared itself unable to open the construction site of the solar power plant due to travel restrictions imposed by the Mozambican government during the health crisis.
The suspension of work resulted in additional costs that the company’s senior management decided to cover. The US$500,000 will be provided by President Michael Haworth (US$50,000) and Managing Director Hanno Pengilly (US$100,000). The remaining $350,000 is being provided by Scott Fletcher, representing the investors of Ncondezi Energy. According to the London-based company, the bridge loan is subject to the finalisation and execution of the full loan agreements, which are due to expire in March 2021. The additional funding will be allocated to NGP.
Commissioning in June 2021
“This is the first of our portfolio of green power assets for C&I customers to be nearing completion and is expected to provide near-term revenue for the company. While the impact of Covid-19 has delayed the project’s delivery schedule, the demand for sustainable energy solutions, which provide increased energy security while reducing costs, has increased further,” 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 storage system of 912 kWh. The solar photovoltaic system is expected to deliver 600 MWh per year, while reducing the beneficiary company’s CO2 emissions by around 517 tonnes over the same period. Ncondezi Energy plans to commission its solar photovoltaic plant before the end of June 2021.
Jean Marie Takouleu