REG-TotalEnergies SE Mozambique: The Consortium of EDF - TotalEnergies - Sumitomo Corporation Selected to Develop a 1,500 MW Hydropower Project

TotalEnergies SEAnnouncement

13/12/2023 11:45

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Mozambique: The Consortium of EDF - TotalEnergies - Sumitomo Corporation
Selected to Develop a 1,500 MW Hydropower Project

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE):

The consortium of EDF (40%), TotalEnergies (30%) and Sumitomo Corporation
(30%) announces that it has been selected as strategic partner by the
Government of Mozambique and entered into a joint development agreement for
the development of the Mphanda Nkuwa hydropower project (MNK).

Located on the Zambezi River, 60 kilometers downstream from Cahora Bassa and
60 kilometers from Tete City, MNK is currently foreseen as a 1,500 MW
run-of-river hydropower project, for which the consortium signed today:

- A joint development agreement with the Gabinete de Implementação do
Projecto Hidroeléctrico de Mphanda Nkuwa (GMNK), Electricidade de Moçambique
(EDM) and Hidroeléctrica de Cahora Bassa (HCB). EDM and HCB will own 30% of
the project while the consortium will own 70% of it.

- A framework agreement with the Ministry of Mineral Resources and Energy
(MIREME), paving the way for the future concession agreement.

Throughout the development of the MNK project, the consortium will leverage
EDF’s extensive hydropower experience and reputable technical expertise,
TotalEnergies’ know-how in developing large and complex integrated energy
projects worldwide, especially in Africa, and Sumitomo’s global experiences
in financing strategic IPP projects, including in Sub-Saharan Africa.

The MNK project would increase Mozambique’s available electricity production
capacity by more than 50% and could power more than 3 million households in
Mozambique and the surrounding region. It would help promoting economic and
social growth in Southern Africa and make a significant contribution to the
region’s energy transition by providing reliable, competitive, renewable
electricity.

The next development step will consist in performing additional studies, which
output will help defining the best options in terms of environmental and
social impact while ensuring the technical and financial viability of the
project. Supported by the African Development Bank and the World Bank through
IFC (International Finance Corporation), the project will implement the
highest international standards in environmental, social and governance
criteria. In particular, the consortium will follow rigorously the required
steps and methodology as well as work closely with all stakeholders prior to
project implementation.

“TotalEnergies is delighted to be able to expand its presence in Mozambique
beyond the Mozambique LNG project with a large investment in renewable energy,
which will benefit to the people of Mozambique. It is a new example of
TotalEnergies’s ability to implement its multi-energy strategy in oil &
gas countries to support them in their energy transition”, said Mike
Sangster, SVP Africa and Vincent Stoquart, SVP Renewables at TotalEnergies.

“We are looking forward to contributing to Mphanda Nkuwa project which is a
great opportunity to bring our technical expertise in hydropower and our
strong environmental and social commitment in favor of local communities and
biodiversity. This project will significantly enhance the access to
electricity in the region and is fully in line with EDF’s ambition to build
a net zero energy future with electricity and innovative solutions that drive
economic development”, said Béatrice Buffon EDF Group Senior Executive
Vice-President, International Division.

“We are pleased to get involved the Mphanda Nkuwa Hydropower Project. This
project will contribute to the increase of access to electricity around the
regions as well as becoming a green energy hub in southern African countries.
Sumitomo Corporation focuses on achieving carbon neutrality in 2050. In order
to achieve this target and contribute to the realization of a sustainable
society, Sumitomo Corporation will further endeavor to be part of renewable
energy projects”, said Koichi Taniguchi, Corporate Officer, General Manager,
Global Power Infrastructure Business Division.

***

TotalEnergies and electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building
a world class cost-competitive portfolio combining renewables (solar, onshore
and offshore wind) and flexible assets (CCGT, storage) to deliver clean firm
power to its customers. At the end of 2023, TotalEnergies’ gross renewable
electricity generation installed capacity was 22 GW. TotalEnergies will
continue to expand this business to reach 35 GW in 2025 and more than 100 TWh
of net electricity production by 2030.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as many people
as possible. Active in more than 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

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is filed by TotalEnergies SE with the French securities regulator Autorité
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