Share Prices & Company Research

Market News

26 Nov 2018 | 08:26

Ncondezi Energy targets completion of Mozambique power project in 2023

Ncondezi Energy said it was planning to commence commercial operations at its 300MW power and coal mine project in Tete, Mozambique in the first half of 2023.

The startup date was among a host of planned milestones included a new work programme and timetable, which had been finalised with potential strategic partners.

The schedule also foresaw key construction contracts being awarded in the first quarter of 2019, sales contracts being signed in the first quarter of 2020 and financial close being reached in the first half of 2020.

'Today's announcement represents another important step in the company's pathway to success,' chairman Michael Haworth said.

'The project is one of the most advanced power development projects in the region, and is located in an area where the effects of drought have reduced generation capacity from traditional hydroelectric power sources by up to 25%.'



At 8:26am: (LON:NCCL) Ncondezi Energy Limited share price was -0.65p at 6.2p

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.