Mocuba Solar PV Plant

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The project consists of the construction, operation and maintenance of a 40 MW solar PV plant, located in Mocuba, Centre-Northern Mozambique. Norwegian developer Scatec is the majority shareholder of project company Central Solar de Mocuba with a 52.5% equity stake. Norwegian investment fund Norfund owns a further 22.5% and Mozambique’s state-owned power utility EDM owns the remaining 25%. EDM will be the sole offtaker from the plant under a 25-year power purchase agreement, signed in November 2016. The project has a total cost of USD76 million. IFC will provide USD19 million for the plant development.The Emerging Africa Infrastructure Fund (EAIF) has signed a participation agreement with the International Finance Corporation (IFC) to provide a USD16.9 million, 16-year B loan for the plant. EAIF, which is part of the Private Infrastructure Development Group (PIDG) will also provide a USD7 million viability gap funding grant for the project from the PIDG’s technical assistance fund. Climate Investment Funds will provide USD19 million debt. https://ijglobal.com/Transaction/35562 https://ifcextapps.ifc.org/IFCExt/pressroom/IFCPressRoom.nsf/0/AD3A3B5920BAC79485258138002E6551