Globeleq Finalizes Acquisition of the Mocuba Solar PV Plant in Mozambique

Globeleq, Africa’s foremost independent power company, has successfully acquired a 52.5% stake and a 22.5% stake in Mozambique’s 41 MW Central Solar de Mocuba solar PV power plant from Scatec ASA and KLP Norfund, respectively. This acquisition, in conjunction with Electricidade de Moçambique (EDM) retaining a 25% stake, significantly bolsters Globeleq’s presence in renewable energy within Mozambique.

This expansion follows closely on the heels of Globeleq’s recent commencement of commercial operations at the Cuamba project, encompassing a 19MW solar and 7MWh energy storage initiative. The addition of Mocuba amplifies Globeleq’s solar PV portfolio in Africa, now totaling close to 400 MW spanning South Africa, Egypt, Kenya, and Mozambique.

Beyond Mozambique, Globeleq is actively involved in constructing a substantial 450 MW gas-to-power venture in Temane, slated to contribute to the national grid by late 2024. This initiative will serve as crucial baseload power, supporting the growth of additional renewable energy projects. Simultaneously, the Temane Transmission Project is underway, developing a crucial 563km, 400kV transmission line linking the southern section of the Mozambican national grid. Additionally, progress is being made on Globeleq’s 120 MW wind project at Namaacha, near Maputo, expected to reach financial closure in 2024.

Mike Scholey, CEO of Globeleq, remarked, “Our ongoing developments in Mozambique encompass solar, wind, and gas-to-power. The Mocuba acquisition is a testament to our growing pan-African solar portfolio, and I extend a warm welcome to our new colleagues from the plant. 2024 stands as a pivotal year for Globeleq in Mozambique, as we move forward with our Temane gas-to-power plant and the Namaacha wind project, marking the country’s inaugural wind power initiative and expected financial closure by mid-2024.”