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London, July 12th (The Net-Zero Circle) - The US International Development Finance Corporation (DFC) has approved a US$99 million loan for Globeleq Africa to finance the construction of the first large-scale wind energy project in Mozambique. This initiative will add to the supply of clean and affordable electricity for the national grid and see Mozambique become a regional exporter of renewable energy.
In a statement released on the 9th of July, 2024, the DFC also announced the approval of risk insurance totalling US$80 million for the wind farm being developed in Namaacha, situated approximately 50 kilometres west of Maputo. The Central Eléctrica da Namaacha project, at an estimated total cost of US$268 million, will have a capacity of 120 megawatts.
According to the DFC, "This first large-scale wind energy project in Mozambique will increase the supply of clean and low-cost electricity to the national grid and regional markets, promoting better access to reliable energy."
