Principle Energy plans Mozambique plant for May
Principle Energy plans to start building its $290 million (€217 million) bioethanol plant in Mozambique in May this year.
‘The plant will produce 212 million litres of ethanol a year and 85 megawatts of electricity when it's in full production from 2013,’ chief operating officer Richard Hurly comments.
This is the company's first of a number of biofuels ventures in Africa.
Principle Energy, a renewable energy company in which London-listed fund manager Principle Capital has a significant undisclosed stake , raised $70 million towards the project in 2007.
Hurly says the company still needs to raise the second part of the funding.
‘The plant will produce 212 million litres of ethanol a year and 85 megawatts of electricity when it's in full production from 2013,’ chief operating officer Richard Hurly comments.
This is the company's first of a number of biofuels ventures in Africa.
Principle Energy, a renewable energy company in which London-listed fund manager Principle Capital has a significant undisclosed stake , raised $70 million towards the project in 2007.
Hurly says the company still needs to raise the second part of the funding.
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