The South Korean company Hyosung announced on Monday that it is to install solar power stations in Mozambique to generate 1.3 megawatts of electricity.
The contract is with the Mozambican government’s Energy Fund (FUNAE) and is worth 32 million US dollars.
A further contract has been signed with the publicly owned electricity company, EDM, under which Hyosung will receive 53 million dollars for providing infrastructure.
Finance for the projects will come through the South Korean Eximbank’s Economic Development Cooperation Fund.
The 400 to 500 kilowatt photovoltaic power stations will be located at Muembe, Mavago and Mecula in the northern province of Niassa. They will provide electricity for 2,000 homes, a dozen schools and three health centres, and should be installed and operational by the end of next year.
The company’s announcement follows the signing of a memorandum on 1 February in Maputo by Mozambique’s Minister of Energy, Salvador Namburete, FUNAE, and the consortium of Hyosung and Daewoo.