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U.S development finance institution to fund energy and gas development in Mozambique

MAPUTO (The Southern African Times) – The U.S development finance institution has agreed to loan up to $200 million for a gas-to-power facility in Mozambique and provide $1.5 billion in political risk insurance to develop natural gas reserves in the country’s Rovuma Basin, the U.S Embassy in Mozambique said on Thursday.

The loan from the U.S. International Development Finance Corp (DFC) to Central Térmica de Temane will finance the development, construction and operation of a 420-megawatt power plant and 25-kilometer interconnection line, the Embassy said.

The DFC’s agreement will also support the development and operation of an onshore natural gas liquefaction plant and supporting facilities in Area 4 of Mozambique’s Rovuma Basin.

“These projects will have a significant development impact in Mozambique, improve lives, and create a once-in-a-generation opportunity for the country to build a more prosperous future for all Mozambicans,” said U.S. Ambassador Dennis Hearne.

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