StockMarketWire.com - Power development company Ncondezi Energy has received updated Engineering, Procurement and Construction and Operations and Maintenance contracts and preliminary financing terms for its 300MW coal fired power project and coal mine in Tete, Mozambique.

The company said tariff submission is on track for the first quarter of 2020. CEO Hanno Pengilly said: 'The Ncondezi Project is one of the most advanced development stage baseload power projects in Mozambique, which would provide low cost reliable 24 hour power whilst meeting the strictest emission standards.

'The project is aligned with government strategy for additional baseload power on the grid by 2023 and universal energy access by 2030.'




Story provided by StockMarketWire.com