VENTURES AFRICA – Africa’s rising star, Mozambique is speeding up its developmental plans for energy and exploration of gas. The country’s government recently merged its Ministry of Resources and Energy as part of the drive towards its 2025 vision for gas and power development.
With exports of liquefied natural gas projects scheduled to start in 2019, Mozambique has high expectations for its gas sector. It’s power sector is also priming up for major uplifts with the prospects of more than 23TW of renewable energy projects coming online.
However, despite over $ 3.238 billion of investment in power projects in 2014, the transmission bottleneck continues to impact the social and economic development of the region, threatening the bankability of power projects in development. South Africa’s Eskom, the African Development Bank, IFC and Southern African Power Pool are amongst the partners addressing transmission and regional distribution to accelerate the country’s industrial development.
These major funders and several other power developers, financiers, will partake in the 4th Annual Powering Africa Mozambique summit to be hosted by EnergyNet in the capital city of Maputo from the 7th-8th May 2015. According to EnergyNet, the summit will focus on the strategies of the newly merged Ministry for encouraging investment, natural resources and generation topics in support of Mozambique’s plans to escalate electricity access in line with its future gas economy.
The company said in a press release that participants will be given the opportunity to connect with over 150 senior participants including power developers, financiers, DFIs and transmission partners to discuss market developments, investment opportunities and the viability of project finance in line with the country’s vision 2025 objectives.