By Elena Vardon
The shares of Ncondezi Vitality Ltd. rose 13% on Friday after the group mentioned it had been granted approval for its examine on the connection of its photo voltaic photovoltaic and battery vitality storage system mission to the Mozambique grid.
By 0823 GMT, the shares have been up 0.10 pence at 0.88 pence.
The African power-development firm mentioned Electricidade de Mozambique has authorized its transmission integration examine, confirming that there’s technical capability for the mission to switch as much as 300 megawatts to the Mozambique grid and the broader area. The approval permits it to contact transmission infrastructure homeowners to ask them to conform to entry.
It mentioned it has began talks and is assured that entry might be supported, and that it goals to offer an replace on the finish of the primary quarter.
“The approval of the Photo voltaic Mission Transmission Integration Examine represents a major improvement milestone in de-risking the mission for potential energy off takers and buyers,” Chief Govt Hanno Pengilly mentioned.
Write to Elena Vardon at elena.vardon@wsj.com
