Ncondezi Energy Limited (NCCL) , a power development company focused in northern Mozambique, is finalizing a binding Joint Development for its integrated 300MW power and coal mine in Tete Mozambique.
The project requires the approval of the Mozambican Ministry of Mineral Resources and Energy for its timetable of delivering first power in 2023. The timetable has been signed off by the Ncondezi’s strategic partners.
The company now moves to complete the JDA and binding engineering, procurement, and construction ("EPC") and operations and maintenance ("O&M") contracts during Q1 2019.
The company is hopeful for swift approval as they perceive their power project to be “closely aligned to the Mozambican government’s stated objective of accelerating the electrification of the country and expanding access to electricity.”
Non-Executive Chairman, Michael Haworth emphasized as much, saying, “The Project is the most advanced development stage project in the region with a competitive power tariff.”
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