Namaacha wind farm

active

The project entails the construction of Namaacha wind farm in Boane, Maputo, southern Mozambique. The expected capacity is 120 MW. The sponsor is e EleQtra, an infrastructure project developer active across sub-Saharan Africa. Total cost of the project is $280 million (almost 20 billion Mozambican meticals). The AfDB approved $985,000 in financing toward the cost of the Namaacha project, part of which towards the advisory contract, no information is available regarding the total debt. The US Trade and Development Agency (USTDA) awarded a grant to EleQtra to carry out feasibility studies. The amount of equity provided is also not available. Construction began on the 3rd September 2020, expected commission period is in 3 years. [2025/03/11 Update] The project comprises the development of a 120 MW onshore wind project near the town of Namaacha (60km west of Maputo, the capital city) in Mozambique. A decree from the Mozambique Council of Ministers dated August 9, 2024 confirmed the 28-year concession for the $270m public-private partnership to build the windfarm. The funding has been provided with a loan of $54m by the African Development Bank (AfDB), approved November 2024, and a loan of $99m by US International Development Finance Corp DFC, approved in July 2024, along with a political risk insurance to Globeleq of $80m, and equity contribution. The Special Purpose Vehicle (SPV) Central Eléctrica da Namaacha, S.A. is owned 70% by Globeleq Mozambique Renewable Holdings (Pty) Ltd. (Globeleq) and 30% by Source Energia (Source). The shareholding at financial close is expected to be 75% by Globeleq, 20% by Source and 5% by EDM. Mozambique’s national power utility, EDM, will be the sole off-taker from the wind park, under a 25-year power purchase agreement (PPA). Expected financial close by the end of 2024. The project will include a 40 km transmission line to the town of Boane, where the power will be inserted into the national grid. $230m will be allocated to the wind farm construction and the remaining $40m will serve for the transmission line construction. Construction is scheduled to start late in 2024, with a target for the commencement of operations within two years, but a delay of the construction start has been confirmed in the end of 2024. https://www.greenbuildingafrica.co.za/us-provides-us99-million-funding-for-120mw-wind-project-in-mozambique/ ; https://www.enerdata.net/publications/daily-energy-news/afdb-approves-us54m-loan-120-mw-wind-project-mozambique.html ; https://globeleq.com/power-plants/namaacha-wind/ ; https://clubofmozambique.com/news/mozambique-construction-of-namaacha-wind-power-plant-delayed-273178/#:~:text=However%2C%20sources%20close%20to%20the,adjusted%20due%20to%20the%20postponement. https://www.afrik21.africa/en/mozambique-eleqtra-starts-construction-of-the-120-mw-namaacha-wind-farm/ https://ijglobal.com/data/transaction/40525/namaacha-wind-farm-120mw