The International Finance Corporation (IFC) and the government of Mozambique announced on May 18 that they will collaborate to develop a 1.5 GW hydropower project in the country, the Mphanda Nkuwa Hydroelectric Project, as well as develop the associated transmission facilities.
The African Development Bank (ADB) also joined in to support the project, after an agreement was signed on 24 May between the ADB and the Mphanda Nkuwa Hydroelectric Project Implementation Office.
This estimated US$4.5bn project will comprise a dam, a power-station and a high voltage transmission line of 1,300 Km from the project site in Tete Province (northern Mozambique) to the capital Maputo. The project is set to be completed in 2031.
Mozambique already generates about 80% of its electricity through hydropower (2020) and the country ambitions to become a net exporter of clean energy to its neighbours, especially South Africa, where demand is high.