{"id":11329,"date":"2021-12-28T15:39:06","date_gmt":"2021-12-28T15:39:06","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/eaif-to-provide-19m-for-solar-electricity-plant-construction-in-mozambique"},"modified":"2021-12-28T15:42:35","modified_gmt":"2021-12-28T15:42:35","slug":"eaif-to-provide-19m-for-solar-electricity-plant-construction-in-mozambique","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/eaif-to-provide-19m-for-solar-electricity-plant-construction-in-mozambique","title":{"rendered":"EAIF to provide $19m for solar electricity plant construction in Mozambique"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The Emerging Africa Infrastructure Fund (EAIF) will act as a sole lender and provide $19m to Central Electrica de Tetereane SA (CET) for the construction of the Cuamba plant.
\nA 19MW solar electricity plant to be built in the Niassa province of Mozambique reached financial close on December 20.
\nThe project will provide clean energy to thousands of people contributing to SDG 7 which focuses on delivering access to clean energy and support job creation in Niassa, one of the country\u2019s poorest provinces in the country.
\nThe Cuamba plant is the first utility-scale solar project in Mozambique to include battery storage.
\nIt will deliver up to 7 megawatt hours of energy, with the aim of boosting solar output during the evening peak demand.
\nThis will contribute to grid stability and displace thermal generation, avoiding emissions, which in turn supports SDG 13 which focuses on climate mitigation.
\nThe introduction of battery technology will be an opportunity to learn and apply lessons on battery storage.
\n\u201cAll the parties \u2013 borrower, lenders and Mozambique\u2019s energy utility and government \u2013 are keen to deepen and widen their knowledge of battery storage. Battery storage has a big part to play in climate change management and African economic development. Understanding everything from battery installation through to maintenance and performance issues will be of great benefit to future project financing opportunities,\u201d said Olivia Carballo, Director at EAIF\u2019s managers, Ninety One.
\nThe owner and operator of the Cuamba plant is Central Electrica de Tetereane SA (CET) whose majority shareholder is Globeleq, the London-based business that specialises in the African power sector.
\nThe project was co-developed with Source Energia a diversified renewable energy business focused on the development and operations of large and small scale on- and off-grid projects in Lusephone Africa.
\nMike Scholey, Globeleq\u2019s CEO says; \u201cWith the ongoing challenges due to the pandemic, I am proud our team has achieved financial close, and we can begin building the first solar and energy storage facility in the country. We fully support the Mozambican Government in their initiatives to support the Paris Agreement and provide its citizens with reliable and clean alternative energy options.\u201d
\nCET has entered into a power purchase agreement with EDM, Mozambique\u2019s national electricity utility.
\nEDM holds 15% of CET\u2019s equity.
\nIn order to improve the commerciality of the project whilst maintaining tariffs at an affordable level, PIDG TA provided a $7m Viability Gap Funding (VGF) grant to CET.
\nThe grant funded project costs, including the battery storage unit.
\nThis is the first time PIDG TA has deployed a VGF grant to a solar project with a battery storage component.
\nCD Group, a shareholder in Globeleq, also provided a grant towards battery costs.
\nCET\u2019s plant is the second solar facility in Mozambique to benefit from EAIF support.
\nNow in full production, the $76m 40MW Central Solar de Mocuba (CESOM) plant was loaned $17mby EAIF by way of a \u201cB\u201d loan to the International Finance Corporation.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The Emerging Africa Infrastructure Fund (EAIF) will act as a sole lender and provide $19m to Central Electrica de Tetereane SA (CET) for the construction of the Cuamba plant. A 19MW solar electricity plant to be built in the Niassa province of Mozambique reached financial close on December 20. The project will […]<\/p>\n","protected":false},"author":84,"featured_media":11163,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-11329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nEAIF to provide $19m for solar electricity plant construction in Mozambique - Mozambique<\/title>\n<meta name=\"description\" content=\"The Emerging Africa Infrastructure Fund (EAIF) will act as a sole lender and provide $19m to Central Electrica de Tetere ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/eaif-to-provide-19m-for-solar-electricity-plant-construction-in-mozambique\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EAIF to provide $19m for solar electricity plant construction in Mozambique\" \/>\n<meta property=\"og:description\" content=\"The Emerging Africa Infrastructure Fund (EAIF) will act as a sole lender and provide $19m to Central Electrica de Tetere ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/eaif-to-provide-19m-for-solar-electricity-plant-construction-in-mozambique\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-28T15:39:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-28T15:42:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2021\/12\/img-61c1f5cd4a899.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"744\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/eaif-to-provide-19m-for-solar-electricity-plant-construction-in-mozambique#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/eaif-to-provide-19m-for-solar-electricity-plant-construction-in-mozambique\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"EAIF to provide $19m for solar electricity plant construction in Mozambique\",\"datePublished\":\"2021-12-28T15:39:06+00:00\",\"dateModified\":\"2021-12-28T15:42:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/eaif-to-provide-19m-for-solar-electricity-plant-construction-in-mozambique\"},\"wordCount\":512,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/eaif-to-provide-19m-for-solar-electricity-plant-construction-in-mozambique#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2021\/12\/img-61c1f5cd4a899.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/eaif-to-provide-19m-for-solar-electricity-plant-construction-in-mozambique#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/eaif-to-provide-19m-for-solar-electricity-plant-construction-in-mozambique\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/eaif-to-provide-19m-for-solar-electricity-plant-construction-in-mozambique\",\"name\":\"EAIF to provide $19m for solar electricity plant construction in Mozambique - 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