Updated tariff proposal for Mozambique energy project
Aim-listed Ncondezi Energy has submitted an updated tariff proposal to Mozambique State-owned power utility Electricidade de Moçambique (EDM) and the Ministry of Mineral Resources and Energy (Mireme).
The updated tariff proposal arose from a financial model submitted to the two authorities, which confirmed the project economics. The project economics can be maintained with a reduction of more than 10% on the previously agreed tariff envelope.
The submission of the tariff proposal forms part of the process to receive formal support from EDM and Mireme to progress the coal mine and 300 MW power plant project, in the province of Tete, and is a key milestone in finalising the joint development agreement between the stakeholders.
Ncondezi is now targeting the completion of a joint development agreement within three months, as soon as EDM and Mireme approve the tariff proposal. EDM has requested a detailed workshop to be held with all the strategic partners to work through the proposal and agree on the next steps.
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