11th Dec 2015 12:10
LONDON (Alliance News) - Ncondezi Energy Ltd Friday said it is currently finalising a binding deal with Shanghai Electric Power Co Ltd to jointly develop the company's power project in Mozambique.
Once the deal has been formalised, the pair will jointly develop Ncondezi's 300.0 megawatt power plant in Tete, Mozambique, which will comprise of two 150.0 megawatt coal-fired plants.
No other details have been released, and Ncondezi said it will release an update in due course.
Ncondezi shares were trading up 23% to 2.00 pence per share on Friday.
By Joshua Warner; [email protected]; @JoshAlliance
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