By 2032, focusing on renewables supported by flexible gas would generate savings of 25 million tons of CO2 emissions and $2 billion dollars in total costs when compared to a coal-based scenario.
To increase access to renewable energy and expand power delivered to the grid in Mozambique, IFC and Electricidade de Moçambique (EDM), have signed a collaboration agreement to develop small-scale solar Photovoltaic (PV) Plants and battery storage facilities.
The policy creates an environment that facilitates private investment into energy service provision via mini-grids through a dedicated policy fitted also for smaller installations (through lower transaction costs) as well as opening end-customer energy service provision to private sector players.
The Syrah Resources Limited (Syrah) Board has announced its approval to finance a solar and battery hybrid power system at its Balama graphite operation in Mozambique, taking advantage of the high solar irradiation potential of the site location.
Despite the global economic deceleration caused by the pandemic, the appetite for the investment in project finance still remains quite active in Mozambique, with particular focus in the sectors of LNG, energy, infrastructure and agriculture.
The signed agreement is meant to reinforce the two parties’ joint commitment in networking, knowledge transfer, communication and advocacy activities, as well as areas of mutual interest to both missions.