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Mozambique state-owned power utility Electricidad de Mocambique (EDM) plans to invest $16 billion in the expansion of the electricity grid by 2030, under a project that will be implemented to provide power annually to around 300,000 families, according to APA reports by Monday.
EDM chief executive officer Mateus Magala said the plans are also part of the project for universal access to electricity in Mozambique.
“Mozambique has abundant and yet largely unexplored natural resources and for us tap all these, and we will need power for those projects and families; hence the plan to invest $16 billion by 2030 is achievable and do-able”, he told a media briefing in the central province of Zambezia late on Sunday.
According to the official, for many decades the energy sector was characterised by decline, disruption and initial post-war reconstruction; however, this situation is now changing rapidly.
The Cahora Bassa hydro dam (HCB) with 2,075 MW is one of the largest hydropower installations in Africa, it has become clear that Mozambique has large sedimentary basins of natural gas – on-shore three large reserves of gas in Pande, Temane and Buzi have been discovered and off-shore the Rovuma basin is now being explored because of the probable existence of major gas and oil reserves in the southern province of Inhambane.
Magala added that over the last couple of years, this has attracted substantial foreign direct investments in large energy-intensive industries, as well as in the mining, exploration and transformation sectors.
“Several new large energy projects are planned or already under construction, including the construction of new hydro dams namely, Mphanda Nkuwa, Cahora Bassa North and new power plants at Benga, Moatize, Moamba, Kuvaninga, Ressano Garcia”. Source: APA