Ncondezi Energy continues to engage positively with the liaison committee regarding the approval of the project timetable for its integrated 300 MW power and coal mine project, in Tete, Mozambique.
Ncondezi aims to deliver the first power from the project in 2023.
The committee is chaired by the Mozambican Ministry of Mineral Resources and Energy.
The project timetable has been signed off by the company’s potential strategic partners and targets completion of a joint development agreement (JDA) and binding engineering, procurement and construction (EPC) and operations and maintenance (O&M) contracts during the first quarter of this year.
“The company remains in a strong position to agree the project timetable with the liaison committee, the final key milestone to unlock the JDA process,” Ncondezi nonexecutive chairperson Michael Haworth commented in a statement on Friday.
“The project timetable is aligned with government and [power utility] Electricidade de Moçambique’s strategy to deliver coal-fired power in northern Mozambique by 2023, and the project is the most advanced development stage project in the region with a competitive power tariff.”
Once the timetable has been agreed, the company expects JDA negotiations to immediately progress, with an advanced draft JDA already submitted to its potential strategic partners, he added.
Moreover, he indicated that the company is adequately capitalised until the end of the second quarter of this year, which provides sufficient time to conclude the JDA.