Ncondezi Energy is on track to find an investment partner before the end of 2017 to support the development of its namesake 300 MW coal-fired power project in Mozambique's Tete Province. The company is looking for a partner that is capable of providing a leadership role in the financing, construction and operation of the power plant.
The incoming partner should also have a credible track record in both the global and African power sectors.
Ncondezi said it has already started to receive non-binding offers from potential partners. It went on to say that it will narrow down these offers to a few preferred partners who will go forward to complete due diligence and submit binding offers. The successful partner is due to be selected by the end of this year.