Ncondezi making progress on 300 MW Moz power plant project

Aim-listed Ncondezi Energy is steadily progressing the joint development agreement (JDA) with Shanghai Electric Power (SEP) for its 300 MW power plant project, located near Tete, in northern Mozambique. The agreement, once effective, will see SEP inject $25.5-million to fund the balance of the power project development costs to financial close in return for a 60% shareholding in the subsidiary, Ncondezi Power Holding 2, which will own and operate the project.