Globeleq to acquire majority stake in Mozambique solar project

Independent power producer Globeleq has bought renewable energy company Scatec’s 52.5% interest in the 41 MW Mocuba solar photovoltaic plant, in Mozambique, for $8.5-million. It will also acquire Norwegian pension fund KLP Norfund Investments’ 22.5% stake in the plant, giving it a 75% interest in the plant. National utility Electricidade de Moçambique (EDM) will continue to hold the remaining 25%.