{"id":20069,"date":"2022-05-25T16:15:24","date_gmt":"2022-05-25T16:15:24","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-to-serve-as-advisor-for-development-of-mphanda-nkuwa-hydropower-project"},"modified":"2022-05-25T16:15:24","modified_gmt":"2022-05-25T16:15:24","slug":"afdb-to-serve-as-advisor-for-development-of-mphanda-nkuwa-hydropower-project","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-to-serve-as-advisor-for-development-of-mphanda-nkuwa-hydropower-project","title":{"rendered":"AfDB to serve as advisor for development of Mphanda Nkuwa hydropower project"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The African Development Bank has signed an agreement with Gabinete de Implementa\u00e7\u00e3o do Projecto Hidroel\u00e9ctrico de Mphanda Nkuwa, an implementing entity, to provide advisory services for the development of the $4.5 billion 1,500 MW Mphanda Nkuwa Hydro Power Project in Mozambique.<\/p>\n

The agreement was signed Tuesday on the side-lines of the Bank\u2019s Annual Meetings, which are taking place in Accra from 23-27 May.<\/p>\n

The agreement was signed by Mr Carlos Yum, Director of Gabinete de Implementa\u00e7\u00e3o do Projecto Hidroel\u00e9ctrico de Mphanda Nkuwa and Dr. Kevin Kariuki, African Development Bank Vice President for Power, Energy Climate and Green Growth.<\/p>\n

President Filipe Nyusi of Mozambique and African Development Bank President Dr. Akinwumi Adesina witnessed the signing. Gabinete de Implementa\u00e7\u00e3o do Projecto Hidroel\u00e9ctrico de Mphanda Nkuwa is part of the Mozambique government\u2019s Ministry of Natural Resources and Energy.<\/p>\n

The project entails development of a hydropower plant to be located on the Zambezi River in the Marara District of the country\u2019s Tete Province. The plant will be 60 km downstream from Cahora Bassa dam and 70 km upstream from Tete city. A transmission system comprising 1,300 km of 550kV high voltage DC transmission line between Cataxia and Maputo will also be constructed. The Mphanda Nkuwa project is expected to reach financial close by end-2024; commissioning is anticipated in 2031.<\/p>\n

\u201cThe partnership with African Development Bank further strengthens the capacity of our implementing agency to develop the Mphanda Nkuwa project. The African Development Bank will ensure that world class environmental, social and governance and associated standards are adhered to during the development, and that the project is attractive to reputable developers, financiers and investors to ensure competitive and least-cost power for Mozambique and the region,\u201d said Mr. Yum.<\/p>\n

The agreement consolidates the Bank\u2019s role as Africa\u2019s premier development finance institution, and as a trusted partner and provider of advisory services and assistance in the development of transformative projects.<\/p>\n

Continued expansion of Mozambique\u2019s generation capacity is required to meet growing domestic demand and drive economic and social development. In addition, the southern Africa region offers market opportunities that Mozambique is well placed to meet as a supplier of competitively produced energy. Mphanda Nkuwa is projected to have one of the lowest electricity production costs in the region.<\/p>\n

\u201cThe project reinforces our efforts to combat climate change in a region that is desperately short of power but equally in need of transformation and a just energy transition. It is also a great privilege to lead the Bank\u2019s team that will be executing this advisory mandate. We are honoured to be chosen by Mozambique to partner on this important project,\u201d said Dr. Kariuki.<\/p>\n

The project builds on earlier success in attracting private investment into the country, including several independent power producers (IPPs). These include the 175 MW Central T\u00e9rmica de Ressano Garcia, the 120 MW Central T\u00e9rmica de Gigawatt, the 40 MW Mocuba solar plant, the 40 MW Metoro solar plant and, most recently, the 450 MW Temane Power Project.<\/p>\n

Mphanda Nkuwa project is included in Mozambique\u2019s National Energy Sector Master Plan 2018-2043 as a national priority, as well as a priority investment for the Southern Africa Power Pool Plan. The project enhances private sector competitiveness through infrastructure development and regional energy trading. It is also aligned with the Bank\u2019s 10-Year Strategy, as well as the \u201cLight Up and Power Africa High-5 strategic priority.<\/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 African Development Bank has signed an agreement with Gabinete de Implementa\u00e7\u00e3o do Projecto Hidroel\u00e9ctrico de Mphanda Nkuwa, an implementing entity, to provide advisory services for the development of the $4.5 billion 1,500 MW Mphanda Nkuwa Hydro Power Project in Mozambique. The agreement was signed Tuesday on the side-lines of the Bank\u2019s […]<\/p>\n","protected":false},"author":84,"featured_media":20067,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,8,16],"tags":[233,281,283],"class_list":["post-20069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nAfDB to serve as advisor for development of Mphanda Nkuwa hydropower project - Mozambique<\/title>\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\/afdb-to-serve-as-advisor-for-development-of-mphanda-nkuwa-hydropower-project\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AfDB to serve as advisor for development of Mphanda Nkuwa hydropower project\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Mozambique. The African Development Bank has signed an agreement with Gabinete de Implementa\u00e7\u00e3o do Projecto Hidroel\u00e9ctrico de Mphanda Nkuwa, an implementing entity, to provide advisory services for the development of the $4.5 billion 1,500 MW Mphanda Nkuwa Hydro Power Project in Mozambique. 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