Ncondezi Energy (AIM: NCCL) is an African power development company with an advanced staged, integrated 300MW thermal coal power plant and mine project located in the Tete Province, Northern Mozambique.
The Company is focused on providing reliable, affordable and accessible baseload energy which will secure against the effects of water drought and intermittency of new renewables. This project supports Mozambique’s energy strategy of universal electricity access by 2030. According to the World Bank, only 30% of the Mozambican population had access to energy in 2017. The Ncondezi Project would provide 300MW of reliable and available power helping to close the infrastructure gap of the region and serving as a catalyst for economic development.
The power plant will be designed to be equipped with state-of-the-art emissions controls technologies that will reduce local air pollutants, minimizing the plant’s impact on the environment and ensuring its compliance with the most stringent emission standards
In April 2019 the Company announced a proposed Joint Venture with GridX Africa Power Development to enter into the Commercial and Industrial (“C&I”) renewable and battery storage sector and in October 2019 announced their first investment in an off grid solar battery project. The move into the C&I solar and battery storage sector offers a significant opportunity for the Company to complement the existing large-scale baseload power project and access near-term low-risk annuity income streams which have significant growth potential.
Michael Haworth (NE Chairman): 20 yrs’ mining experience. Currently a Senior Partner and Co-Founder of Greenstone Resources.
Hanno Pengilly (Chief Executive Officer):
Prior to joining Ncondezi in 2010, he was an investment banker at JP Morgan, predominantly focused on natural resources.
NED’s: Aman Sachdeva & Scott Fletcher MBE
Over Subscribed £750,000 Placing at 4.5p 25 November 2020: Ncondezi Energy Limited (“Ncondezi” or the “Company”) (AIM: NCCL) is pleased …
$1.8m Agreed CMEC Accelerated Development Budget Ncondezi Energy Limited (“Ncondezi” or the “Company”) (AIM: NCCL) is pleased to announce that …
Ncondezi Energy Limited (“Ncondezi” or the “Company”) (AIM: NCCL) is pleased to announce that contractors have been instructed to progress …
Ncondezi Energy Limited (“Ncondezi” or the “Company”) (AIM: NCCL) provides the following update on its Shareholder Loan (the “Loan”) restructuring …
Ncondezi Energy Limited (“Ncondezi” or the “Company”) (AIM: NCCL) announces that further to the announcement made on 13 October 2020 …
Ncondezi Energy Limited (“Ncondezi”, the “Company” or the “Group”) (AIM: NCCL) announces its interim results for the six months ended …
| P&L | 2018 US$~000 | 2017 US$~000 |
|---|---|---|
| Total admin expenses & loss from ops | (2,758) | (1,051) |
| Loss before tax | (3,480) | (1,695) |
| BALANCE SHEET | 2018 US$~000 | 2017 US$~000 |
|---|---|---|
| Non current assets | 18,272 | 18,313 |
| Cash & Equivalents | 424 | 614 |
| Total Assets | 18,750 | 19,010 |
| (Total Liabilities) | (5,508) | (4,620) |
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Directors’ Holdings
Michael Haworth – 5.16%
Others
Africa Finance Corporation – 16.92%
S J Fletcher – 16.22%
Hargreaves Lansdown – 12.73%
Polenergia International- 8.96%
The World Bank
The Board of Executive Directors of the World Bank Group today approved a total amount of $420 million of International Development Association (IDA)* grants and guarantees to strengthen Mozambique’s transmission capacity for domestic and regional markets and increase electricity generation capacity through private sector investment. The project will also benefit from a co-financing of $24 million grant from a Norwegian Trust Fund
Ncondezi Energy Inks Pact To Develop Solar Project In Mozambique:
“Ncondezi Energy Ltd on Wednesday said it has entered into an agreement with Mauritius-based renewables firm GridX Africa Development to finance and develop a solar battery project in Mozambique.”
