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Globeleq Takes Stake in Mozambique Solar Farm

Globeleq Takes Stake in Mozambique Solar Farm

Globeleq has acquired a majority stake in the 41MW Central Solar de Mocuba solar PV power farm (Mocuba) in Mozambique.

The company received 52.5% of the project from Scatec ASA and 22.5% from KLP Norfund, with Electricidade de Moçambique (EDM), the national power company of Mozambique, holding the remaining 25% stake in the plant.

a d v e r t i s e m e n t

Mocuba represents an important addition to Globeleq’s solar PV portfolio in Africa which now has capacity of close to 400MW across South Africa, Egypt, Kenya and Mozambique.

Mike Scholey, Globeleq’s CEO commented: “We are steadily building a major business in Mozambique in solar, wind and gas-to-power of which this acquisition at Mocuba is just the latest addition.

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“Mocuba is an excellent fit within our pan-African solar portfolio and I welcome our new colleagues from the plant to Globeleq. 2024 promises to be a critical year for Globeleq in Mozambique as the Temane gas-to-power plant moves towards commercial operations and the Namaacha project, the country’s first wind power project, is expected to reach financial close by mid-2024.”

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