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HCB, IFC Sign Up to 400MW Solar Cooperation Agreement

HCB, IFC Sign Up to 400MW Solar Cooperation Agreement

Cahora Bassa Hydroelectric (HCB) and the International Finance Corporation (IFC) signed a cooperation agreement on Monday 16 October for the development of a solar power plant of up to 400 MW located in Changara district, Tete province, central Mozambique, stressing that the infrastructure will contribute to the supply of renewable energy in the country.

According to HCB’s PCA, Tomás Matola, as part of the document, the two entities will carry out a pre-feasibility study of the project, and the first phase will centre on defining the main characteristics of the plant, from capacity, conceptual design and the assessment of environmental and social criteria.

“This agreement represents the realisation of HCB’s strategy to diversify and expand its generation capacity, as well as minimising the impact of the reduction in production during the rehabilitation and modernisation of the south plant,” he said.

According to the official, there is a plan to increase HCB’s power generation capacity to around 4,000 MW by 2032.

For her part, IFC’s Acting Country Director in Mozambique, Kátia Daude, said that increasing access to reliable and affordable energy is fundamental for Mozambique’s economic growth and continued development, as it stimulates job creation and supports economic activities.

“IFC’s partnership with HCB will help the country increase its energy supply and further position itself as one of the largest energy suppliers at regional level,” she said.

The planned solar power plant will contribute to achieving the commitment made by the Mozambican government at the 2021 United Nations Climate Change Conference (COP26) to generate 62 per cent of the country’s energy from renewable sources by 2030.

Despite Mozambique’s significant energy resources, the country’s electricity industry faces challenges, including inadequate investment, low population density and limited accessibility.

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