Business and investment in

Africa

Africa is the 2nd continent on Earth in area with a great amount of natural resources.  There are more than 50 countries with fast growing economies and 1.5 bln population here. Africa today offers big opportunities for business and investment.

Mozambique to build solar power plant

 

 

The African Development Bank has approved a $150 million loan to Mozambique for the construction of a floating solar power plant at the Cahora Bassa reservoir.

 

The Electricidade de Mozambique company proposed the construction of a solar power plant. The initiative is aimed at diversifying electricity production in the face of a shortage of hydropower caused by drought.

 

According to World Bank experts, the country's energy sector is heavily dependent on the Cahora Bassa hydroelectric power plant, so expanding solar energy capacity is a strategic necessity for Mozambique.

 

AFRICA NEWS AGENCY