International law firm Linklaters has been appointed project counsel to the 1,500-MW Mphanda Nkuwa hydroelectric project, proposed for Mozambique’s Zambezi River.
The US$1.85 billion project is being developed by Brazil construction firm Camargo Correa, national utility Electricidade de Mocambique, and Energia Capital to supply power to Mozambique, South African utility Eskom, and the Southern Africa region. (HNN 8/5/08)
The Linklaters team, led by partner Andrew Jones, includes energy and infrastructure lawyers from the firm’s offices in London, Lisbon, and Sao Paulo, Brazil.
The appointment of Linklaters is the latest in a series of African deals for the firm. In 2007, it closed financing for the deal in which Mozambique paid a US$700 million debt to Portugal to take control of the 2,040-MW Cahora Bassa hydroelectric project on the Zambezi. (HNN 11/28/07)
Linklaters also closed financing in 2007 for the US$867 million 255-MW Bujagali hydroelectric project in Uganda. (HNN 3/24/08)
“After the success of the Cahora Bassa and Bujagali power station financings, closed by Linklaters last year, we are delighted to be advising on this major new development in the African power market,” Jones said.
In August, Mozambique Planning and Development Minister Aiuba Quereneia said Camargo Correa would build and possibly operate the dam in northern Mozambique’s Tete province, but still needed to find funding for the project.
The project is to be built 60 kilometers from Cahora Bassa, Mozambique’s major dam. Mozambique hopes the new plant will be finished in 2013.