Mphanda Nkuwa Dam Scheme Secures Euro 500m In Financing
The European Union and the European Investment Bank have approved the funding.
The Implementation Office Of The Mphanda Nkuwa Hydroelectric Project has announced that the European Union and the European Investment Bank have agreed to provide Euro 500 million (US$536 million) in funding for the project in Mozambique.
Euro 300 million has been extended to support the construction of the 1,300km high-voltage power line, and the remaining Euro 200 million will be allocated for the power station.
The total cost to build the Mphanda Nkuwa hydroelectric dam project is estimated at US$4.5 billion.
It was recently revealed that the EDF-led consortium has been selected as preferred bidder become the strategic partner in the 1,500MW Mphanda Nkuwa hydropower scheme.
Photo: European delegation meeting in Maputo (Supplied)
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