Lux Nova has advised Mauritius-based renewable power developer GridX Africa Development on the closing of its first funding from Ncondezi Energy to construct, operate and manage a landmark solar battery project for a commercial customer in Mozambique. Commissioning of the project is expected within 8 months and the plant will generate around 660MWh/yr.
This is the first project in a portfolio of commercial and industrial (C&I) solar and battery projects across Africa being developed by GridX.
Newly appointed Ncondezi chief executive Hanno Pengilly said of the project last week, “today’s announcement marks the company’s strategic entry into the disruptive C&I renewables and battery storage energy sector with an investment in a construction ready project. The project’s technical solution will provide 100% off-grid energy supply and is believed to be one of the first solar PV and battery storage projects of this size in Mozambique.”
We look forward to continuing to support GridX’s ambitions to make non-subsidised solar and battery projects based solely on customer offtake and credit, an integral part of the C&I power landscape across Africa.
