(Alliance News) - Ncondezi Energy Ltd said Wednesday it has submitted its third-party power market outlook study and updated feasibility study for its 300 megawatt coal-fired power project in Tete, Mozambique.
Shares in the Mozambique-focused power producer were up 2.8% at 4.78 pence on Wednesday in London.
The submission of the developer studies is the last outstanding requirement from state-owned electricity provider Electricidade de Mocambique, Ncondezi said, following its submission of the project power tariff back in March.
Ncondezi said it expects formal feedback early in 2021.
"The power market outlook study confirms the project's strategic importance which, combined with the updated project feasibility study, demonstrates that the project is one of the most credible power supply options in the country capable of delivering reliable round the clock power from 2025," said Chief Executive Officer Hanno Pengilly.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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