GL Africa signs $400mn concession deal with Mozambique
Mozambique’s Rovuma Basin is one of the largest untapped gas reserves on the planet and it continues to attract the interest of some of the biggest energy companies in the world. Recently, Britain's GL Africa signed a $400 million LNG power plant concession deal with the Mozambique Govt. Mamadou Goumble, CEO, Energy Business, Janus Continental Group joins CNBC Africa for more.
Tue, 09 Nov 2021 10:22:01 GMT
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AI Generated Summary
- Enhanced Network Stability and Electricity Access: The construction of a 250-megawatt LNG power plant in Nakhala promises improved network stability in northern Mozambique, offering a reliable power source independent of the existing infrastructure like the Cabral Basin Dam. This initiative is set to boost electricity access for the populace.
- Regional Power Market Dynamics: With the introduction of the LNG power plant, Mozambique aims to expand its influence in the regional power market, potentially catering to the energy needs of not just its citizens but also neighboring countries like South Africa.
- Balancing Renewable Energy and Cost Efficiency: The project underscores the significance of an energy mix, combining renewable sources like hydroelectric power with cleaner fuel options such as LNG to ensure a sustainable and affordable electricity supply for Mozambique.
Mozambique, home to one of the largest untapped gas reserves globally in the Rovuma Basin, has recently garnered the attention of major energy companies. GL Africa, a British company, has inked a monumental $400 million LNG power plant concession deal with the Mozambique government. Mamadou Goumble, the CEO of Energy Janus Continental Group, shed light on this groundbreaking project in an exclusive interview with CNBC Africa. The agreement entails constructing a 250-megawatt power plant in Nakhala, utilizing LNG. Goumble highlighted the genesis of this initiative stemming from the Revuma gas tender secured by the company years ago. The implications of this development seem promising for the region, with a primary focus on enhancing the network's stability. Nakhala, situated in northern Mozambique, previously reliant on the Cabral Basin Dam for power, stands to benefit significantly from the upcoming power plant. Additionally, the project is poised to bolster electricity access for Mozambicans, potentially positioning the country as a key player in the regional power market. The CEO emphasized the broader objective of promoting gas utilization in the area, further underscoring the drive towards renewable energy integration.
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