African power development company Ncondezi Energy Ltd
(LON:NCCL) has put on hold an ongoing solar-plus-storage project for a
commercial and industrial (C&I) client in Mozambique due to the coronavirus
pandemic. Ncondezi Energy said in a statement that the project off-taker has
issued a force majeure notice because of the inability to provide site access
for construction at this time. Still, the company believes that the facility
could be commissioned in the second quarter, as planned, should restrictions
ease next month.
Hanno Pengilly stated that as long as the force majeure
notice is in place, Ncondezi Energy will not undertake further construction
costs. “The company is working closely with all parties involved in the
project. All major equipment is in secure storage facilities ready for future
deployment when the restrictions are lifted,” he said.
In October 2019, the firm signed an agreement with GridX
Africa Development to finance the development of the 400-kWp, off-grid solar
photovoltaic (PV) array, coupled with a 228-kW/912-kWh energy storage system.
The parties previously agreed to form a joint venture to execute a pipeline of
such projects for the African C&I sector. “The move into the C&I solar
and battery storage sector represents a significant opportunity for the Company
to complement its existing large-scale baseload power project and access
near-term low-risk annuity income streams which the Company believes has
significant growth potential,” Pengilly said at the time.
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