Ncondezi Energy Limited provided an update on its 300MW solar photovoltaic ("PV") and Battery Energy Storage System ("BESS") project ("the Solar Project") Transmission Integration Study. A full generation integration study has been completed to determine the optimal transmission line connection into the Mozambican grid. Working with the relevant local authorities, 6 potential solutions were investigated taking into account potential scaling of the project, available or under construction transmission infrastructure and planned generation plants in the region.

Results confirm there is grid capacity for the Solar Project and more than one feasible evacuation solution. The Solar Project is also suited to feed power into the Mozambican northern grid as well as participate in cross border power trading within the Southern African Power Pool ("SAPP"). Two preferred connection solutions have been identified covering grid connection distances between 20kms and 40kms. Both options have been optimised to take into account the proposed phased approach to generation expansion, which also provides a capex benefit by spreading the cost of connection over the various phases.

The first phase is expected to handle initial power generation up to 100MW whilst keeping capex relatively low through use of existing infrastructure. The second phase will handle the balance of the 200MW generation capacity and is expected to benefit the wider region with additional voltage and stability control, whilst also reducing system losses due to its location which is closer to load demand centres.All new equipment will be required to conform with standard EDM equipment ratings and will comply with relevant Grid Codes.