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Mozambique is expected to invest US$5.15 billion over the coming years to ensure that it will continue to be a hub for electricity production in the southern African region, the chairman of state-owned power company Electricidade de Moçambique (EdM) said on Monday in Maputo.
Mateus Magala, quoted by Mozambican newspaper Notícias said the investment will cover five new projects, one of which, the interconnection between Mozambique and Malawi, is expected to be completed in financial terms in 2018 and on the ground three years later, in 2021.
Saying that Mozambique is a country with vast potential for electricity production in sub-Saharan Africa, of around 187 gigawatts, Magala pointed out that what is most important at the moment is for the country to transform that potential into real production.
The president of EdM said that due to an economic slowdown in South Africa, Mozambique currently has an unused production capacity of 7,000 megawatts, while Southern Africa has a deficit of 10,000 megawatts, “due to the lack of interconnection between countries’ electricity grids.” (source: Macauhub)