Ncondezi Energy Signs Agreement With Consulting Firm For Its Mozambique Solar Project
Ncondezi Energy has signed a master services agreement with Synergy Consulting to provide financial and transaction advisory services for its 300MW solar project in Mozambique.
According to a statement from Ncondezi, which is developing the solar photovoltaic (PV) and battery energy storage system (BESS) project in Tete, Mozambique, the agreement covers potential advisory services to accelerate the project up to financial close.
That includes the finalisation of the power tariff, negotiations with project lenders for debt financing and capital raising for Ncondezi’s equity contribution towards the project.
“As we continue to make good progress on our 300MW solar PV project, Synergy’s appointment ensures access to world-class resources to achieve the next set of development goals and further enhance the company’s value proposition,” said Ncondezi chief executive Hanno Pengilly.
“With the solar project feasibility study in near final form including an advanced form competitive tariff proposal, the company has initiated power offtake discussions with potential offtakers and submitted its preferred transmission connection to supply power to the grid for approval with the relevant local authorities,” Pengilly added.
Ncondezi said Synergy is a “global power financial services provider” and has successfully achieved financial close on over US$70bn of projects.
Synergy is familiar with Ncondezi, having acted as a financial adviser on various mandates for the company since 2016.
READ: Ncondezi Energy signs consultancy agreement with Synergy
The master services agreement structure allows Ncondezi to approach each work stream and applicable fee on a case-by-case basis within a capped fee structure, it said.
