Scatec Solar closes Mozambique‘s solar plant financing

Scatec Solar, KLP Norfund Investments and Electricidade de Mozambique (EDM) have closed debt financing and initiated construction of a 40 MW solar plant in Mozambique. The project debt financing is provided by IFC, the International Finance Corporation, a member of the World Bank Group, and the Emerging Africa Infrastructure Fund.

This is the first large scale solar plant to be built in the country and represents an important step in realizing Mozambique‘s ambition to increase renewable power generation in its energy mix.