{"id":45371,"date":"2023-08-23T20:37:01","date_gmt":"2023-08-23T20:37:01","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-edm-hcb-agree-on-funding-mphanda-nkuwa-hydropower-project"},"modified":"2023-08-23T20:41:01","modified_gmt":"2023-08-23T20:41:01","slug":"mozambiques-edm-hcb-agree-on-funding-mphanda-nkuwa-hydropower-project","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-edm-hcb-agree-on-funding-mphanda-nkuwa-hydropower-project","title":{"rendered":"Mozambique\u2019s EDM, HCB agree on funding Mphanda Nkuwa hydropower project"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Eletricidade de Moc\u0327ambique will advance three million dollars to the Mphanda Nkuwa hydroelectric dam project, which will be the second largest and which it is developing in the centre of the country with the Cahora Bassa hydroelectric dam, it announced on Friday.<\/p>\n

The two companies announced that they had signed a mutual contract agreement on Wednesday that establishes the terms and conditions for the provision of an amount \u201cof just over $3 million\u201d (\u20ac2.8 million) to the budget of the Mphanda Nkuwa Hydroelectric Project Office (GMNK).<\/p>\n

\u201cThis amount corresponds to EDM\u2019s [Electricity of Mozambique] contribution (…) and should be paid by the financial closure of the project,\u201d explains the state company.<\/p>\n

The development costs of the Mphanda Nkuwa Hydroelectric Project are borne by EDM and Hidroele\u0301trica de Cahora Bassa, \u201ccompanies mandated by the government to develop and implement\u201d the project, and \u201cshould be accounted for as advances to the share capital of the special purpose companies to be set up\u201d for its development.<\/p>\n

Mphanda Nkuwa will be the second largest hydroelectric plant in the country, after the Cahora Bassa Hydroelectric Plant (HCB), which has a capacity of 2,070 megawatts. It will have an installed power generation capacity of up to 1,500 megawatts and a 1,300-kilometre high-voltage line from Tete to Maputo.<\/p>\n

At an estimated cost of $4.5 billion (\u20ac4.2\u20ac billion), Mphanda Nkuwa is to be built 61 kilometres downstream from the Cahora Bassa hydroelectric plant on the Zambezi River in Tete province.<\/p>\n

\u201cThe project will be the lowest cost option for energy production\u201d and should strengthen Mozambique\u2019s position in the energy export area as a \u201cregional energy hub\u201d, the GMNK previously emphasised.<\/p>\n

Domestically, it aims to \u201ccontribute to universal access and industrialisation\u201d in the country, he added.<\/p>\n

The European Union (EU) and the European Investment Bank (EIB) announced in June that they \u201cwill disburse 500 million euros\u201d for the Mphanda Nkuwa dam hydroelectric project.<\/p>\n

A total of \u20ac300 million will go towards the high-voltage power line \u2013 of which \u20ac50 million is a donation \u2013 and the remaining \u20ac200 million will go towards the hydroelectric power station.<\/p>\n

The announcement came just a few days after the Mozambican government announced that a consortium led by Electricity of France (EDF) and including oil company TotalEnergies had been chosen as the \u201cpreferred bidder\u201d to implement the project under a concession regime.<\/p>\n

This will be followed by the fundraising phase until the financial close is reached (initially scheduled for August 2024), at which point the project is deemed to have the funds it needs to go ahead and start operating by 2030.<\/p>\n

\u201cThe Mphanda Nkuwa project will be fundamental to the process of energy transition and decarbonisation in the southern region of the African continent,\u201d the developer\u2019s office said.<\/p>\n

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

Africa-Press – Mozambique. Eletricidade de Moc\u0327ambique will advance three million dollars to the Mphanda Nkuwa hydroelectric dam project, which will be the second largest and which it is developing in the centre of the country with the Cahora Bassa hydroelectric dam, it announced on Friday. The two companies announced that they had signed a mutual […]<\/p>\n","protected":false},"author":84,"featured_media":45369,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-45371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nMozambique\u2019s EDM, HCB agree on funding Mphanda Nkuwa hydropower project - Mozambique<\/title>\n<meta name=\"description\" content=\"Eletricidade de Moc\u0327ambique will advance three million dollars to the Mphanda Nkuwa hydroelectric dam project, which wil ...\" \/>\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\/mozambiques-edm-hcb-agree-on-funding-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=\"Mozambique\u2019s EDM, HCB agree on funding Mphanda Nkuwa hydropower project\" \/>\n<meta property=\"og:description\" content=\"Eletricidade de Moc\u0327ambique will advance three million dollars to the Mphanda Nkuwa hydroelectric dam project, which wil ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-edm-hcb-agree-on-funding-mphanda-nkuwa-hydropower-project\" \/>\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=\"2023-08-23T20:37:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-23T20:41:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/08\/sm_1692807046.443382.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\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\/mozambiques-edm-hcb-agree-on-funding-mphanda-nkuwa-hydropower-project#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-edm-hcb-agree-on-funding-mphanda-nkuwa-hydropower-project\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mozambique\u2019s EDM, HCB agree on funding Mphanda Nkuwa hydropower project\",\"datePublished\":\"2023-08-23T20:37:01+00:00\",\"dateModified\":\"2023-08-23T20:41:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-edm-hcb-agree-on-funding-mphanda-nkuwa-hydropower-project\"},\"wordCount\":467,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-edm-hcb-agree-on-funding-mphanda-nkuwa-hydropower-project#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/08\/sm_1692807046.443382.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-edm-hcb-agree-on-funding-mphanda-nkuwa-hydropower-project#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-edm-hcb-agree-on-funding-mphanda-nkuwa-hydropower-project\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-edm-hcb-agree-on-funding-mphanda-nkuwa-hydropower-project\",\"name\":\"Mozambique\u2019s EDM, HCB agree on funding Mphanda Nkuwa hydropower project - 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