The Temane gas-fired power project in the province of Inhambane (Mozambique) has reached financial close. Debt financing of the US$652m project is provided by IFC, with FMO and Emerging Africa Infrastructure Fund (together US$254m), US International Development Finance Corporation (DFC) (around US$192m) and the OPEC Fund for International Development (OPEC Fund) (US$50m). The Multilateral Investment Guarantee Agency (MIGA) has provided up to $251 million in political risk insurance to the private sector equity investors.
The Temane project includes a 450 MW gas-fired power plant and a liquefied petroleum gas (LPG) and light oil production plant. It also includes a 563 km long power transmission line between Temane and Maputo worth US$200m. Construction started in June 2021 and commissioning is scheduled in 2024. The project is developed by a consortium between the Mozambican state-owned power utility Electricidade de Moçambique (EDM), Globeleq, an Africa-focused independent power producer owned by CDC (70%) and Nordfund (30%), the UK-based infrastructure developer eleQtra and the South African energy and chemical group Sasol. Gas will be supplied by Sasol and the Mozambican national oil and gas company Empresa Nacional de Hidrocarbonetos (ENH) from the PSA gas field and electricity will be sold to EDM under a 25-year power purchase agreement (PPA).
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.