Metoro Solar Power Plant project, advised by CGA, reached the financial close

On the 17^th of December 2019, Neoen and Mozambique’s Electricity (EDM) reached the financial close of the “Metoro Solar Power Plant” project (the “Project”) and thus, launched the construction of a photovoltaic power plant of 41 MWp located in Metoro, Cabo Delgado province, Mozambique.

It is with great pride that Couto, Graça e Associados (CGA) had been assisting Neoen and EDM in the development of the Project since the beginning, having provided legal assistance at all stages of the Project until the recent financial close.

As a result of this advisory, CGA was awarded the “African Legal Awards 2019″ award as the Lawyers’ Office of the Year in Africa, in the Environmental and Renewables category.

The power plant, whose operation is scheduled to commence at the end of 2020, will supply the national network, strengthening in particular the electricity grid of the Provinces of Cabo Delgado and Nampula.

The project represents an investment of $56 million, with $40 million financed in the form of a loan by the French Development Agency (AFD) and Proparco. The construction will be carried out by the Portuguese group, Efacec.