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AfDB signs agreement with
Mozambique on $4.5bn HPP
MOZAMBIQUE THE African Development Bank (AfDB) has “It is also a great privilege to lead the Bank’s team
signed an agreement to provide advisory ser- that will be executing this advisory mandate. We
vices for the development of the $4.5bn 1,500 are honoured to be chosen by Mozambique to
MW Mphanda Nkuwa Hydro Power Project in partner on this important project.”
Mozambique, it said in a press release on May 25. The International Finance Corporation
The project entails the development of a (IFC) signed a collaboration agreement with
hydropower plant to be located on the Zambezi the Mphanda Nkuwa Hydroelectric Project
River in the Marara District of the country’s Tete Implementation Office (GMNK) to develop the
Province. The project is expected to reach its hydropower project and associated transmission
financial close by end-2024, with commission- facilities. The development finance institution
ing anticipated in 2031. It is projected to have will work with the Mozambique government in
one of the lowest electricity production costs in collaboration with GMNK to structure the pro-
the region. ject, including the review of its technical design,
The agreement was signed the day before on environmental safeguards, and commercial and
the margins of the AfDB’s Annual Meeting, now financial structuring.
underway in Accra, where Mozambique’s Presi- Meanwhile, in Accra, Nyusi was received by
dent Filipe Jacinto Nyusi arrived on May 22 for a Ghana’s President Nana Addo Dankwa Aku-
four-day state visit. fo-Addo for bilateral talks aimed at boosting
he Mphanda Nkuwa Hydro Power Project bilateral economic and diplomatic relations.
agreement was signed by Carlos Yum, Direc- Later, they visited the headquarters of the Afri-
tor of Gabinete de Implementação do Projecto can Continental Free Trade Area (AfCFTA) and
Hidroeléctrico de Mphanda Nkuwa, and Kevin held discussions with the group’s Secretary-Gen-
Kariuki, AfDB Vice President for Power, Energy eral and staff.
Climate and Green Growth. President Nyusi is expected to address the
“The project reinforces our efforts to combat Parliament of Ghana on May 25 before leaving
climate change in a region that is desperately the country, Graphic Online (Ghana) reports.
short of power but equally in need of transforma-
tion and a just energy transition,” said Kariuki.
Week 21 26•May•2022 www. NEWSBASE .com P9
