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$54m loan for Mozambique鈥檚 first wind farm approved
04 November 2024
The African Development Bank has approved a $54 million loan for the construction of Mozambique鈥檚 first onshore wind farm.
Image: Generated using AI by Violetta via AdobeStock
The total cost of the project to build the 120W facility is expected to be $224.5 million, with Mozambique鈥檚 national electricity utility EDM the sole off-taker from the wind farm under a 25-year power purchase agreement.
The wind firm, which will be located around 50km from Maputo, will generate 331.6 GWh annually.
The African Development Bank said its construction would create 600 jobs, with a target for 120 to be for women, and 300 for youth.
Globeleq is one of the project developers. Its CEO Jonathan Hoffman said: 鈥淭he Namaacha Wind Farm is a significant milestone in Mozambique鈥檚 journey toward a diversified and sustainable energy landscape. We are proud to partner with EDM and Source Energia in contributing to the government鈥檚 ambitious 鈥楨nergy for All by 2030鈥� program, which is rapidly transforming into a reality for countless Mozambicans. This project reflects our commitment to supporting Mozambique鈥檚 clean energy goals and bringing reliable power to the communities we serve.鈥�
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