Mozambique Energy: Gigawatt mulls US$700 million investment in power production

GigaWattThe Gigawatt power company could invest up to US$700 million in expanding electricity production in Mozambique, potentially making the country the SADC’s largest producer of energy from natural gas, according to OPais newspaper.

The US$700 million sum would more than triple the initial invested in the Gigawatt installation at Ressano Garcia, estimated at US$200 million. If taken forward, the investment would increase current capacity from 120 to 350 megawatts per year and triple the company’s workforce.

“The 350 megawatts we would produce here, plus the 174 megawatts produced by CTRG and some Grecco energy we produce, would make us one of the SADC’s largest producing centers based on natural gas,” Nazário Meguigy, director of operations at Gigawatt, said.

In the meantime, the economic crisis the country is going through is limiting the company to increase production by just 60 megawatts, valued at about US$120 million dollars.

Of the 120 megawatts Gigawatt currently produces, 100 are delivered to the national grid through Mozambique Electricity (EDM) and the remaining 20 megawatts go to the reserve and maintaining the company’s equipment.Source: O País

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