Mozambique state-owned power utility Electricidad de Mocambique (EDM) plans to invest $16 billion in the expansion of the electricity grid by 2030. EDM CEO Mateus Magala said the plans are part of the project for universal access to electricity in Mozambique.
"Mozambique has abundant and yet largely unexplored natural resources and for us tap all these, and we will need power for those projects and families; hence the plan to invest $16 billion by 2030 is achievable and do-able," he told a media briefing in the central province of Zambeziaon August 13.
According to Magala, for many decades the energy sector was suffered from declines, disruptions, and initial post-war reconstruction; however, this situation is now changing rapidly.Magalasaid that over the last couple of years Mozambique has attracted substantial FID in large energy-intensive industries, as well as in the mining, exploration and transformation sectors.
"Several new large energy projects are planned or already under construction, including the construction of new hydro dams namely, MphandaNkuwa, Cahora Bassa North and new power plants at Benga, Moatize, Moamba, Kuvaninga, Ressano Garcia". He added: "Realistically, we believe MphandaNkuwa to come around 2019. It will be for internal consumption and exports."