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MENAFN - Arab News - 15/03/2014
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(MENAFN -Arab News) the government of mozambique and a consortium led by acwa power signed a 25-year concession contract for the development of the moatize ipp project, a 300 mw (first phase) coal fired power project located at tete province, 1,500 km north of the mozambique capital maputo

Acwa power, lead developer, investor and operator of the project is joined by vale sa (vale), one of the largest mining companies in the world, and mitsui co. ltd., a global japanese trading house, as cosponsors of the project

In addition, the mozambican state owned utility, electricity de mozambique (edm), and local investor whatana investment group will enter as minority shareholders in the project

Moatize ipp is a green field independent power project (ipp) to be developed on a boot basis with a total investment cost of approximately 1.00 billion. it will be a pulverized fuel, subcritical coal fired power station

About 250 mw of the total capacity of 300 mw will feed the largest coal mine in the world that vale mz is developing at this site with the remaining 50 mw supplied to edm, to feed the grid

The sponsors have selected international contractor gs engineering & construction from korea for the engineering, procurement and construction of the project, and acwa power's wholly owned subsidiary nomac will be responsible for the operation and maintenance of the plant

?signature on this concession agreement is a significant milestone for the moatize ipp project enabling us to complete the financing process and commence full scale construction.

Moatize ipp will significantly enhance acwa power's position as a rapidly expanding power developer in the southern cone of africa, one of our target markets and also help to diversify acwa power's fuel experience beyond oil, gas and solar to now coal,? said paddy padmanathan, president & ceo of acwa power.


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