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Ncondezi Energy makes first investment in solar battery 'construction-ready' project

Ncondezi Energy Ltd's (LON:NCCL) Hanno Pengilly speaks to Proactive London's Andrew Scott following the announcement they've secured finance for its first solar energy and battery storage facility for a commercial customer in Mozambique.

The firm's agreed to form a joint venture with solar project developer GridX Africa Development.

The deal sees Ncondezi investing US$1.1mln into a GridX special purpose vehicle called GridX Africa AssetCo to fund the development of the initial project.

Quick facts: Ncondezi Energy Ltd

Price: 5.3 GBX

AIM:NCCL
Market: AIM
Market Cap: £17.22 m
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JDA 'delivers pathway to value realisation events' for Ncondezi Energy

Ncondezi Energy Ltd's (LON:NCCL) Hanno Pengilly caught up with Proactive London's Andrew Scott following the signing of the joint development agreement with China Machinery Engineering Corp (CMEC) and General Electric Switzerland (GE). The deal now opens the door for development of the...

on 25/7/19

2 min read