Ncondezi Energy Ltd (AIM:NCCL, OTC:NCDZF), the African-focused power development company, said it is seeking shareholder approval at its extraordinary general meeting to be held in Cape Town later this month to change its name to Solgenics Limited.
According to a statement, the change “reflects the company’s transition into a dedicated renewable energy development company".
"The proposed name change to Solgenics reflects our updated mission to develop innovative power supply solutions for affordable and reliable electricity in Africa, utilising the latest sustainable technologies,” said chief executive Hanno Pengilly
“We will do this by focusing on the development of grid-scale renewable energy projects in the southern African region, predominantly using solar and battery storage solutions.
“Solgenics also provides a clear signal to investors, governments and potential offtake partners that we are committed to developing clean, green power projects.”
Ncondezi added that it has delivered material de-risking milestones over the last two months for its Tete Solar Project in northern Mozambique.
Milestones achieved include the completion of a feasibility study, the completion of an environmental and social impact assessment and the receipt of exclusive land rights for the generation of solar energy.