British company Ncondezi Energy has launched a feasibility study for a 300MW solar energy storage plant in Mozambique, local media reported Wednesday.

Located in Tete province, the project covers an area of 25,000 hectares, with a potential power generation capacity of 500 megawatts, investment ranging from US $60 million to US $65 million, and revenue of US $130 million to US $180 million over 25 years. It is expected to be completed and connected to Mozambique’s national grid in 2024 at the earliest, and a purchase and sale agreement with Mozambique and the Southern African Power Pool Company has been reached.