Scatec Solar closes financing for Mozambique's first large scale solar plant

The International Finance Corporation and the Emerging Africa Infrastructure Fund have agreed project debt financing with Scatec Solar, KLP Norfund Investments and Electricidade de Mozambique for a 40MW solar plant in Mozambique.

IFC provided project debt of $19 million, together with a concessional loan from the Climate Investment Fund of the same size, and a syndicated loan of $17 million from the Emerging Africa Infrastructure Fund.

The plant, close to the city of Mocuba in the Zambézia Province, is the first large scale solar plant to be built in the country.