IFC and EDM Partner to Increase Access to Renewable Energy in Mozambique
June 24, 2022
To increase access to renewable energy and expand power delivered to the grid in Mozambique
By combining early-stage project development support and financing, IFC is working with EDM to support Mozambique to develop its renewable energy sources to help power homes and businesses”BRUSSELS, BELGIUM, June 24, 2022 /EINPresswire.com/ -- LIVE FROM THE 24TH ANNUAL AFRICA ENERGY FORUM (AEF), BRUSSELS - LIVE SIGNING
— Dan Croft, IFC Regional Manager for Infrastructure in Africa
To increase access to renewable energy and expand power delivered to the grid in Mozambique, IFC and Electricidade de Moçambique, E.P. (EDM) signed today a collaboration agreement to develop small-scale solar Photovoltaic (PV) Plants and battery storage facilities.
Under the collaboration agreement, announced on the sidelines of the Africa Energy Forum in Brussels, IFC and EDM target to develop four solar PV and battery storage facilities across Mozambique with an expected total energy production of 50 Megawatts, dependent on the results of a grid integration and financial assessment study to be conducted by IFC.
The solar PV Plants will provide power to the Country’s grid and help to meet growing electricity demand in a country where only about 43 percent of the population has access to electricity, of which 40% from National Grid and 3% from isolated systems.
For EDM’s CEO, Eng. Marcelino Gildo Alberto, this project “signals the Company’s effort in the search for sustainable solutions to accelerate Universal Access to Energy for all Mozambicans by 2030. In this sense, with the commitment to energy diversification, we hope to generate, in the coming years, 200MW in renewable energy. Likewise, with projects of this nature, EDM is at the forefront of the energy transition, in line with the Paris Agreements to reduce global warming”.
“A key priority for Mozambique is ensuring access to affordable, sustainable, and reliable electricity. By combining early-stage project development support and financing, IFC is working with EDM to support Mozambique to develop its renewable energy sources to help power homes and businesses”, said Dan Croft, IFC Regional Manager for Infrastructure in Africa on the Upstream team, which works on early-stage project development.
The project is part of IFC’s work in Mozambique to increase access to power including by bringing on increased renewable energy sources.
IFC — A member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In the fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit: www.ifc.org.
Electricidade de Moçambique E.P. (EDM) — Considered a business branch of the Government in the Energy Sector — is the public company accountable for the electricity sector in Mozambique, having under its management the Generation, Transport, Distribution, and Commercialization of electricity. Its field of activity, both the national and international presence, knowledge of the sector, and the central role it has played since 1977, the year of its creation, provide it with a positioning and technical knowledge that enable it to properly lead all processes in the Mozambican and regional electrical sector. For more information, please visit: www.edm.co.mz