CAPE TOWN (Reuters) – Mozambique has signed a deal with a consortium led by French energy giant EDF to build the new $5 billion (US$4.64 billion) Mphanda Nkuwa hydroelectric project. euros), the government announced on Wednesday.
The dam and hydroelectric plant will be built on the Zambezi River in the northern province of Tete and will produce 1,500 megawatts of electricity in the first phase.
“This is the first concrete step taken by Mozambique to exploit the immense hydroelectric potential of the Zambezi River and the country’s other energy resources,” said Carlos Zacarias, Mozambique’s Minister of Energy, in a statement.
The first turbine is expected to operate by 2031, officials said at a signing ceremony attended by senior officials from the French and Mozambican governments, including President Filipe Nyusi.
The successful consortium, led by EDF, includes TotalEnergies and Sumitomo Corporation and holds a 70% stake in the project, while Mozambican power company EDM and Hidroeléctrica da Cahora Bassa (HCB) will take the remaining 30%.
(Reporting Wendell Roelf, Augustin Turpin, editing by Kate Entringer)
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