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Green Giraffe advised a consortium of Neoen and Electricidade de Moçambique (EDM) on the USD 40 M debt raise for a 41 MWp solar plant in Metoro (Mozambique)
On 19 December 2019, Neoen and its partner Electricidade de Moçambique (EDM) closed the financing and launched construction of Central Solar Metoro, a 41 MWp solar photovoltaic power plant located in northern Mozambique. Green Giraffe acted as financial advisor to the two sponsors and assisted them in raising a USD 40 M loan provided by French development financing institution Agence Française de Développement and its subsidiary Proparco.
The power generated by the facility, which is due to enter service in late 2020, will supply the national grid, strengthening the power grid in the Provinces of Cabo Delgado and Nampula. The project also represents a USD 56 M investment that will help grow the Metoro village economy by creating around 30 permanent jobs.