Mozambique: Ncondezi, Shanghai Electric agreement

Issue 328 - 23 Jul 2016 | 1 minute read
Ncondezi Energy and Shanghai Electric Power Company (SEP) on 7 July announced the signing of a shareholders’ agreement term sheet for the Ncondezi coal power scheme at a meeting in Maputo. Ncondezi said the agreement represented a key legal and financial milestone towards finalising the joint development agreement in Q3 2016, the engineering, procurement and construction and operations and maintenance contracts in Q4 2016 and financial close in H1 2017. The first phase of the integrated coal mine and power scheme in Tete province will develop a 300MW plant, and the project has potential to expand to 1,800MW.

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