By Elena Vardon
The shares of Ncondezi Vitality Ltd. rose 13% on Friday after the group mentioned it had been granted approval for its research on the connection of its photo voltaic photovoltaic and battery vitality storage system venture to the Mozambique grid.
By 0823 GMT, the shares had been up 0.10 pence at 0.88 pence.
The African power-development firm mentioned Electricidade de Mozambique has accepted its transmission integration research, confirming that there’s technical capability for the venture to switch as much as 300 megawatts to the Mozambique grid and the broader area. The approval permits it to contact transmission infrastructure house owners to ask them to conform to entry.
It mentioned it has began talks and is assured that entry will probably be supported, and that it goals to offer an replace on the finish of the primary quarter.
“The approval of the Photo voltaic Undertaking Transmission Integration Examine represents an necessary growth milestone in de-risking the venture for potential energy off takers and traders,” Chief Govt Hanno Pengilly mentioned.
Write to Elena Vardon at [email protected]
