Globeleq to take majority control of 41-MW solar park in Mozambique

Africa-focused independent power producer (IPP) Globeleq said today it has agreed to buy a 75% stake in the 41-MW Central Solar de Mocuba solar park in Mozambique.

Under the plan, Globeleq will acquire the 52.5% holding of Oslo-based Scatec Solar ASA (OSL:SSO) and the 22.5% interest of KLP Norfund Investments. The remaining 25% of the project will continue to be held by EDM-Electricidade de Mozambique.

Following the deal, the value of which was not disclosed, Globeleq will become the owner and manager of the photovoltaic (PV) farm, which was powered up in 2019. The transaction is pending regulatory and lender approval and is expected to close in the first half of 2024.

Located close to the city of Mocuba in Zambezia Province, the Mocuba park is capable of generating some 79 GWh per year, enough to meet the annual consumption of around 175,000 homes. The output is sold to EDM and supplied to the national grid under a 25-year contract.

The project was realised with financing from the International Finance Corporation and the Emerging Africa Infrastructure Fund.

Globeleq noted that the acquisition will grow its African solar portfolio to nearly 400 MW. In Mozambique alone, the company owns a 19-MW solar park that is undergoing commissioning and is also developing a 120-MW wind project ann 7-MWh energy storage scheme.

Choose your newsletter by Renewables Now. Join for free!