Globeleq, Africa’s foremost independent power company, has finalized the acquisition of controlling stakes in the Central Solar de Mocuba solar PV power plant (Mocuba) in Mozambique. This acquisition marks a pivotal expansion of Globeleq’s renewable energy endeavors within the nation, solidifying its commitment to driving sustainable power solutions across the continent.
Having acquired a 52.5 percent stake from Scatec ASA and a 22.5 percent stake from KLP Norfund, Globeleq now stands as a major shareholder in the 41 MW Mocuba plant. The remaining 25 percent stake in the facility continues to be held by Electricidade de Mocambique (EDM), the national power company of Mozambique.
This strategic move significantly augments Globeleq’s renewable energy portfolio in Mozambique. It follows closely on the heels of the company’s recent successful launch of commercial operations at the Cuamba project, consisting of a 19MW solar installation paired with a 7MWh energy storage system.
Mocuba not only enhances Globeleq’s renewable energy footprint in Mozambique but also adds substantial weight to its solar PV portfolio in Africa, which currently boasts a collective capacity nearing 400 MW spanning South Africa, Egypt, Kenya, and now Mozambique.
Beyond these milestones, Globeleq is actively engaged in constructing a 450 MW gas-to-power initiative at Temane. Set to commence power production by the end of 2024, this project is poised to significantly bolster the Mozambican national grid, offering crucial baseload power support while facilitating the expansion of additional renewable energy projects.
Simultaneously, the Temane Transmission Project, featuring a 563km, 400kV transmission line, is underway to establish a pivotal link to the Southern segment of Mozambique’s national grid.
Moreover, Globeleq’s progress remains robust with its Namaacha wind project, a 120 MW initiative located near Maputo. Anticipated to reach financial closure in 2024, this venture stands as another testament to the company’s commitment to furthering renewable energy efforts within Mozambique.