Financial close for Metoro PV project in Mozambique

Neoen has reached financial close on its $56 million 41MW Metoro photovoltaic (PV) project in northern Mozambique. Project debt of $40 million is being provided by Agence Francaise de Developpement (AFD) and its financial arm Proparco. Clifford Chance advised the lenders and Linklaters advised the sponsors.

Metoro is one of the first solar IPPs in Mozambique to reach financial close and follows Scatec Solar’s IFC-led financing for the 40MW Mocuba project in March 2018. EFACEC is EPC contractor for Metoro and commissioning is planned for the end of 2020.