TOTALENERGIES SE: Mozambique: The Consortium of EDF - TotalEnergies - Sumitomo Corporation Selected to Develop a 1,500 MW Hydropower Project
13 Diciembre 2023 - 5:38AM
UK Regulatory
TIDMTTE
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE):
The consortium of EDF (40%), TotalEnergies (30%) and Sumitomo
Corporation (30%) announces that it has been selected as strategic
partner by the Government of Mozambique and entered into a joint
development agreement for the development of the Mphanda Nkuwa
hydropower project (MNK).
Located on the Zambezi River, 60 kilometers downstream from
Cahora Bassa and 60 kilometers from Tete City, MNK is currently
foreseen as a 1,500 MW run-of-river hydropower project, for which
the consortium signed today:
- A joint development agreement with the Gabinete de
Implementação do Projecto Hidroeléctrico de Mphanda Nkuwa (GMNK),
Electricidade de Moçambique (EDM) and Hidroeléctrica de Cahora
Bassa (HCB). EDM and HCB will own 30% of the project while the
consortium will own 70% of it.
- A framework agreement with the Ministry of Mineral Resources
and Energy (MIREME), paving the way for the future concession
agreement.
Throughout the development of the MNK project, the consortium
will leverage EDF's extensive hydropower experience and reputable
technical expertise, TotalEnergies' know-how in developing large
and complex integrated energy projects worldwide, especially in
Africa, and Sumitomo's global experiences in financing strategic
IPP projects, including in Sub-Saharan Africa.
The MNK project would increase Mozambique's available
electricity production capacity by more than 50% and could power
more than 3 million households in Mozambique and the surrounding
region. It would help promoting economic and social growth in
Southern Africa and make a significant contribution to the region's
energy transition by providing reliable, competitive, renewable
electricity.
The next development step will consist in performing additional
studies, which output will help defining the best options in terms
of environmental and social impact while ensuring the technical and
financial viability of the project. Supported by the African
Development Bank and the World Bank through IFC (International
Finance Corporation), the project will implement the highest
international standards in environmental, social and governance
criteria. In particular, the consortium will follow rigorously the
required steps and methodology as well as work closely with all
stakeholders prior to project implementation.
"TotalEnergies is delighted to be able to expand its presence in
Mozambique beyond the Mozambique LNG project with a large
investment in renewable energy, which will benefit to the people of
Mozambique. It is a new example of TotalEnergies's ability to
implement its multi-energy strategy in oil & gas countries to
support them in their energy transition", said Mike Sangster, SVP
Africa and Vincent Stoquart, SVP Renewables at TotalEnergies.
"We are looking forward to contributing to Mphanda Nkuwa project
which is a great opportunity to bring our technical expertise in
hydropower and our strong environmental and social commitment in
favor of local communities and biodiversity. This project will
significantly enhance the access to electricity in the region and
is fully in line with EDF's ambition to build a net zero energy
future with electricity and innovative solutions that drive
economic development", said Béatrice Buffon EDF Group Senior
Executive Vice-President, International Division.
"We are pleased to get involved the Mphanda Nkuwa Hydropower
Project. This project will contribute to the increase of access to
electricity around the regions as well as becoming a green energy
hub in southern African countries. Sumitomo Corporation focuses on
achieving carbon neutrality in 2050. In order to achieve this
target and contribute to the realization of a sustainable society,
Sumitomo Corporation will further endeavor to be part of renewable
energy projects", said Koichi Taniguchi, Corporate Officer, General
Manager, Global Power Infrastructure Business Division.
***
TotalEnergies and electricity
As part of its ambition to get to net zero by 2050,
TotalEnergies is building a world class cost-competitive portfolio
combining renewables (solar, onshore and offshore wind) and
flexible assets (CCGT, storage) to deliver clean firm power to its
customers. At the end of 2023, TotalEnergies' gross renewable
electricity generation installed capacity was 22 GW. TotalEnergies
will continue to expand this business to reach 35 GW in 2025 and
more than 100 TWh of net electricity production by 2030.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and
markets energies: oil and biofuels, natural gas and green gases,
renewables and electricity. Our more than 100,000 employees are
committed to energy that is ever more affordable, cleaner, more
reliable and accessible to as many people as possible. Active in
more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.
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