Ncondezi appoints new CEO

9th October 2019 By: Creamer Media Reporter

Aim-listed Ncondezi Energy, which is developing an integrated thermal coal mine and 300 MW power plant, in Tete, Mozambique, has appointed Hanno Pengilly CEO.

He joined the company in 2010 and has served as chief development officer since May 2012.

"Hanno's appointment to the board as CEO is an important milestone in providing confidence for the company's future. The appointment outlines Hanno's commitment to the company and comes at an important time following the signing of the joint development agreement and as the board implements its strategy to finalise the power tariff submission to Electricidade de Moçambique and move the Ncondezi project forward," chairperson Michael Haworth says.

"Energy growth is critically important for Africa as a key catalyst for economic development. Ncondezi is uniquely positioned to take advantage of baseload power generation development in Mozambique at an important time for the country.

"I'm excited to be stepping into the role of CEO, which represents a great opportunity to lead the company and create value for shareholders. The company's 300 MW Ncondezi project is one of the most advanced baseload power plant projects in Southern Africa with market leading co-development partners," Pengilly adds.

He further notes that there is significant opportunity to provide offgrid energy solutions in Africa.

"To this end, Ncondezi's developing position in the African captive solar and battery storage sector through the proposed joint venture with GridX Africa Development, offers a strategic approach to a new growth market.

"I look forward to meeting investors in my new position as CEO and am confident that we have the right team to complete our objectives and achieve meaningful results," he states.