Synergy Consulting, Inc., was recently selected as the Transaction Advisor to Electricidade de Moçambique (EDM), facilitating the energy company’s equity stake sale in a 400MW Gas Fired power plant at Temane in the Inhambane Province of Mozambique (Temane IPP).
Synergy assisted EDM in its selection of an investor by running a two-stage competitive tender process (RFQ and RFP). Additionally, the Synergy team supported the preparation of tender documents (RFQ, RFP, and PIM), which included the transaction model for the tender, along with bid proposal evaluation assistance and Joint Development Agreement (JDA) negotiation with the preferred bidder.
Bid proposal evaluation was conducted in a transparent manner, and Globeleq – a lead partner in the Temane Energy Consortium (TEC) – was ultimately selected as the preferred bidder.
As a result, EDM was able to sell the stake on highly competitive terms, which yielded a lower project tariff.
The project will provide low cost, reliable power to Mozambique.