• logo linkedin
  • logo email
Centrale solaire Neoen
By financing a solar power plant with a USD 20m loan, Proparco is contributing to improving access to green electricity in a country marked by a low electrification rate.
Client presentation

Neoen is an independent developer and producer of exclusively renewable energy, with a current capacity in operation or under construction of some 3 GW. The company operates in France, Australia, Mexico, El Salvador, Argentina, Finland, Ireland, Zambia, Jamaica and Portugal. Neoen is listed on compartment A of the Euronext Paris regulated market.

Project description

The project involves building and operating for 25 years a photovoltaic power plant with a capacity of 41 MWp. It will be located on land with a total surface area of 138 hectares in northern Mozambique. The investments to be made by the project company, Central Solar Metoro, include the construction of the photovoltaic plant, a 100 m-long transmission line and an electrical substation, which will be transferred to EDM, the offtaker. 

Project impact

The project should have significant impacts on development:

  • Strengthening of the country’s energy infrastructure, with 62.5 GWh of green electricity injected into Mozambique’s grid every year.
  • Access to electricity for some 135,000 people.
  • Contribution to the fight against climate change, with a reduction of 49,000 tons of CO2 a year, i.e. a reduction of 1,221 ktons of CO2 during the lifespan of the project.
  • Indirect support to Mozambique’s economy via an annual contribution to the country’s GDP, support for employment (an estimated 70 jobs supported every year), the transfer of skills to some 400 Mozambican workers employed by the project and positive impacts on the development of the local industry, which will benefit from the increase in the capacity and reliability of the power grid. 
10/10/2019
Date of signature of the project
Mozambique
Location
Financing tool
18 340 210 Euros
Amount of funding
USD 20m loan
Financing details
METORO SOLAR SPV
Client
CES