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Government Signs Implementation Agreement for Entry of Mphanda Nkuwa’s Strategic Partner

Government Signs Implementation Agreement for Entry of Mphanda Nkuwa’s Strategic Partner

The Ministry of Mineral Resources and Energy (MIREME) will sign today, 13 December, the implementation agreement for the Mphanda Nkuwa hydroelectric project in Tete, which formalises the entry of a strategic partner into the shareholder structure.

The signing of this agreement, according to a statement from MIREME, is the culmination of a competitive, rigorous and transparent process for selecting the strategic partner that began in June 2022.

In May, the Mozambican Executive, through the Mphanda Nkuwa Hydroelectric Project Implementation Office (GMNK), announced the consortium led by Electricité de France (EDF), which includes TotalEnergies, Sumitomo Coorporation and Kansai, as the preferred bidder in the tender to select the strategic partner for the development of the project valued at 4.5 billion dollars.

The chosen consortium will have a 70 per cent stake in the project, with the remaining 30 per cent to be distributed between the public companies Electricidade de Moçambique (EDM) and Hidroeléctrica de Cahora Bassa (HCB).

As this is a consortium of four companies, the percentages for each are divided as follows: TotalEnergies with 30 per cent, Electricity of France with 40 per cent and Sumitomo Corporation and Kansai with 15 per cent each.

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