Ncondezi Energy Ltd (AIM:NCCL) CEO Hanno Pengilly speaks to Proactive following its shift away from coal towards solar power at its site in Mozambique.
Ncondezi is looking for an "acquirer or JV partner" to fund and mine the 4bn tonnes of coal resources at its Tete site, while it concentrates on developing a 300mw photovoltaic solar array.
The company had been developing a coal-fired power plant at Tete but the project is currently on hold pending clarification of funding from its Chinese partner.
Pengilly expects a solar feasibility study to be delivered at the end of October 2022 with a target to commence power generation in 2024.