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The Mocuba power plant is located on 126 hectares in a rural setting approximately 13 Km from Mocuba in Zambezia province, in central Mozambique.
Globeleq, an independent power company in Africa, agreed to purchase Scatec A.S.A.'s 52.5% stake in the 41 MW Central Solar de Mocuba solar PV power plant as well as KLP Norfund Investments A.S.'s 22.5% stake in the plant. Once the acquisition is complete, Globeleq will hold a 75% stake in Mocuba and will be the owner and manager of the plant. Electricidade de Moçambique (EDM), the national power company, will still hold the remaining 25%.
"I am very pleased that Globeleq is continuing to build its presence in Mozambique through the purchase of the Mocuba solar plant,” said Mike Scholey, Globeleq's CEO. “This acquisition, alongside our other projects, demonstrates our commitment both to Mozambique and to building our renewable power portfolio in Africa."
The Mocuba acquisition is expected to be finalized in the first half of 2024. This acquisition expands Globeleq's operational footprint in Mozambique where the company is in the process of commissioning a 19 MW solar and 7 MWh energy storage project at Cuamba. It is also building a 450 MW gas-to-power project at Temane and developing a 120 MW wind project at Namaacha