Investment bank Fieldstone has assisted WHN Solar to raise grant funding of almost $1.2-million for a solar energy project in Mozambique.
The funding was conferred by the US Trade and Development Agency for a feasibility study to assess the viability of a photovoltaic plant of up to 100 MW to be developed in increments of 20 MW to 40 MW.
The proposed solar energy plant will be located at the Nacala International Airport, in Nampula province.
A key feature of the plant will be an energy storage facility with up to 50 MW of capacity, which will be located adjacent to the plant.
The Nacala solar project will be the largest in Mozambique once it reaches full scale.
Fieldstone has an established record in advising and bringing over $13-billion in projects to fruition on the continent during its 22-year history.