Bloomberg on Friday cited an official statement from the Mozambican government as saying that the country had chosen TotalEnergies SE and Electricité de France SA as strategic partners in a $4.5 billion hydropower project.
According to Bloomberg, the winning consortium consists of EDF, TotalEnergies, and Sumitomo Corp.
ETC Holdings, Zesco Ltd. (Zambia), CECOT (a Mota-Engil subsidiary), and PetroSA (a unit of South Africa’s Central Energy Fund) formed another consortium that bid on the project.
The Mphanda Nkuwa dam, with its associated transmission line, is designed to alleviate power shortages in the area.
Cahora Bassa hydropower dam, which is already in the area, can produce 2,075 MW of power and exports more than half of its output to neighboring South Africa.
According to Bloomberg, the energy partners will need to invest between $500 million and $700 million for the project to reach financial close in 2024 and be fully operational by 2030.
