Africa-Press – Mozambique. Ncondezi Energy Ltd. shares soared Friday after the company said it was launching a feasibility study for its solar photovoltaic and battery energy storage system project in Mozambique.
Shares at 0726 GMT were up 0.70 pence, or 90%, at 1.48 pence. The London-listed African power-development company said the study will take four months to complete and will be led by WSP Group Africa Pty.
The company said it estimated a premoney net present value, or NPV, for the project of between $60 million and $65 million, and fully diluted cashflows of between $130 million to $180 million over a 25-year period.
“The solar project represents a significant opportunity to further define the project and crystallize additional value for shareholders,” Chief Executive Hanno Pengilly said. Mozambique: Ncondezi signs EPC contract for coal-fired power plant with China Machinery Engineering
By
Anthony O. Goriainoff
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