Page 14 - AfrElec Week 20 2022

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IFC, Mozambique to collaborate

on $4.5bn Mphanda Nkuwa HPP

MOZAMBIQUE MOZAMBIQUE and the International Finance with Mphanda Nkuwa Hydroelectric Project
Corporation (IFC) have signed an agreement Implementation Office (GMNK) to structure
to develop a 1,500MW hydropower project the project, including the review of technical
expected to turn the southeastern African coun- design, environmental safeguards, commercial
try into a regional hub. and financial structuring.
The $4.5bn Mphanda Nkuwa Hydropower The goal is to help mobilise competitive pri-
Project will be built on the Zambezi River, vate investment to bring the project into com-
which rises in western Zambia, before flowing mercial operation and support the country’s
into Angola, Namibia, Botswana, Zimbabwe and sustainable energy transition.
Mozambique, emptying into the Indian Ocean. “Mphanda Nkuwa is poised to support the
“Once complete, the Mphanda Nkuwa achievement of the Government’s vision of uni-
Hydropower Project is expected to supply versal access to electricity by 2030, stimulate
power to meet the growing domestic demand in industrialisation and boost growth through reli-
Mozambique and transform the country into a able transmission infrastructure and competi-
regional energy hub,” the IFC said in a release on tive power,” said Carlos Yum, director of GMNK.
Wednesday (May 18). There are already two large generating plants
“The rest of the project’s output is expected to on the river – one at Lake Kariba, which is
be exported to neighbouring countries, includ- shared by Zimbabwe and Zambia, and another
ing South Africa, where demand for clean energy at Cahora Bassa Dam in Mozambique.
is high. The project will also accelerate the transi- “Clean and sustainable energy is a key driver
tion to clean energy to combat climate change in of economic and social development,” said
Southern Africa.” Carlos Katsuya, IFC’s senior country manager
Scheduled for completion in 2031, the pro- for Mozambique. “We are pleased to leverage
ject will comprise a dam, a power station, and IFC’s experience in developing and financing
a high-voltage transmission infrastructure of large hydropower projects in Africa and glob-
1,300km from the project site in Tete Province ally to boost Mozambique’s supply of affordable
to Maputo, Mozambique’s capital. renewable energy and meet the country’s grow-
IFC, a member of the World Bank Group, ing demand for power.” ™
will work with the government in collaboration

P14 www. NEWSBASE .com Week 20 19•May•2022