MIGA guarantee helps expand clean energy access in remote Mozambique

Washington, March 5, 2026—The Multilateral Investment Guarantee Agency (MIGA), home of the World Bank Guarantee Platform, has issued a guarantee to support increased access to electricity in a province of Mozambique where electrification lags the national average. The 20-year, $7.96 million guarantee issued to Globeleq Africa Limited (United Kingdom) will support its investment in Central Eléctrica de Tetereane (CET), a solar photovoltaic power plant with battery storage in Mozambique’s Niassa Province. The guarantee covers breach of contract risk related to a 25-year power purchase agreement with Electricidade de Moçambique, the country’s state-owned electricity utility.

CET operates in the Cuamba Municipality of Niassa Province in Northern Mozambique, an area with electricity access levels at 60 percent. The facility includes an 18.75-megawatt-peak solar photovoltaic plant, a 1.86-megawatt/6.7-megawatt-hour battery storage system, and associated infrastructure to supply clean, reliable electricity to households and businesses across northern Mozambique. The project is delivering electricity under a 25-year power purchase agreement that helps stabilize energy supply in an area where access to electricity has historically lagged far behind the national average.

MIGA’s guarantee helps ensure the continued viability of CET’s operations while signalling to other private investors that Mozambique’s renewable energy sector offers bankable opportunities with appropriate risk mitigation. The project supports Mozambique’s efforts to diversify its energy mix, which currently relies heavily on natural gas and hydropower from large dams, which are vulnerable to climate variability. “MIGA’s guarantee and our partnership with Globeleq Africa demonstrate how we can help developing economies like Mozambique by advancing the least-cost, sustainable energy solutions they need to grow and develop,” saidTsutomu Yamamoto, MIGA Managing Director.

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John Smelcer, Chief Development Officer at Globeleq, added, “This MIGA guarantee secures CET’s long‑term operations and sends a powerful message that Mozambique’s renewable energy sector offers real, bankable opportunities when the right protections are in place. It reinforces our commitment to delivering reliable clean power and will open the door for more private capital to follow into other renewable energy projects”. This transaction builds on MIGA’s growing portfolio in Sub-Saharan Africa, where the agency is helping mobilize private capital for renewable energy, infrastructure, and climate-resilient investments that reach communities long underserved by traditional financing.

Globeleq is the leading developer, owner, and operator of electricity generation in Africa, delivering tailored energy solutions and supporting the region’s energy transition. Since 2002, Globeleq has built a diverse portfolio of independent power plants generating 1,850 MW across eight countries, with 665 MW under construction and more than 2,000 MW in development. Globeleq is owned by British International Investment and Norfund, the UK and Norwegian development finance institutions.

More details:www.globeleq.com Initiated in 2024, the World Bank Group Guarantee Platform consolidates guarantee products and experts from across the World Bank Group at MIGA. It provides a simplified and comprehensive menu of guarantee solutions, enabling clients to select the instrument that best suits their needs. The platform streamlines processes, removes redundancies, and provides greater accessibility by de-risking investments in developing countries.

Its goal is to boost the World Bank Group’s annual guarantee issuance to $20 billion by 2030. For more information about the guarantee platform, please visit:https://www.worldbank.org/wbgguarantees

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