CEN EBL

hold

The proposed IFC investment consists of an equity bridge loan (EBL) facility for the development of Namaacha, a greenfield 120MW wind power project, located 57km west of Maputo in Mozambique. The Project will be the country’s first wind Independent Power Producer (IPP) and will sell its generation to the state-owned offtaker Electricidade de Moçambique (EDM), under a 25-year Power Purchase Agreement (PPA). The Project will include a new 35km transmission line (T-line) connecting the Project to the existing Boane substation, and a 27MVar STATCOM system (together, the Transmission Connection Equipment or TCE). The construction of the TCE will fall under the responsibility of the Project Company, with the TCE to be transferred to EDM upon completion and governed by a Connection and Operation Agreement (COA).  The Turbine Supply Agreement and Balance of Plant contract (together, the EPC Contracts) are being tendered, with the selection of the turbine supplier and EPC Contractor expected in May-2024. The selected turbine supplier will provide a 25-year Long-Term Services Agreement (LTSA), whilst maintenance services for the BoP will be provided by Globeleq Energia Moçambique (GEM), Globeleq’s subsidiary providing O&M services on Globeleq-owned assets in Mozambique.