British power developer Ncondezi Energy has signed an agreement with India’s Synergy Consulting to help the AIM-listed company negotiate financial issues related to its planned solar energy project in Mozambique.

Synergy will assist Ncondezi in securing support in negotiating with project lenders for debt financing, finalising key agreements and power tariffs with potential off-takers, and raising capital.

Ncondezi is working towards developing a 300MW solar PV plus battery energy storage system solar project in northern Mozambique. The plant will connect to the Mozambique grid with target power off-takers in that country as well as southern Africa. It also plans to develop a coal mine and coal-fired power facility in the same region.

Recently, the firm reported that it had secured 950 hectares of land on which to build the 300MW solar farm. Mozambique has also approved the transmission integration study for the project.

Synergy, an independent global company with offices in the US, UK, Jakarta, India, UAE, South Korea, Saudi Arabia, and Japan, specialises in infrastructure advisory and project finance. 

If you would like to read more about the key events shaping the African energy sector then please click here for NewsBase's AfrElec Monitor.

©2023 bne IntelliNews , source Magazine