Japan is to fund the $174-million construction of new gas-fired power plant in Mozambique to help the Southern African nation's fast-growing economy keep up with electricity demand, the national power utility said this week.
Mozambique has seen a spike in foreign investment since it hit on huge gas reserves, but power shortages threaten the development of industry and economic growth.
Power demand, which is at about 800 MW at peak times, already outstrips supply of around 700 megawatts in the former Portuguese colony, whose economy is expected to grow by 14% this year.
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Mozambique has seen a spike in foreign investment since it hit on huge gas reserves, but power shortages threaten the development of industry and economic growth.
Power demand, which is at about 800 MW at peak times, already outstrips supply of around 700 megawatts in the former Portuguese colony, whose economy is expected to grow by 14% this year.
Read More.....
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