MUSTAPHA ENERGY
DESCRIPTION OF THE PROJECT:
Scaling up their flagship project in Athlone, Mustapha Energy will use state of the art proven technology to convert industrial and municipal wastes into value furthering the circular economy.
Phase 1 will manufacture a refuse derived fuel for coal offset.
Phase 2 will use residual waste to produce energy through a thermal power plant process. By the end of 2024, up to 400 tons per day of municipal waste will be diverted from landfill and converted into fuel, electricity, heat, recyclables and secondary materials for the construction industry.
LOCATION
Southern Africa
SECTOR
Waste and Energy
STAGE
Expansion (Project Finance)
INVESTMENT REQUIRED
USD25M (Equity 30%, Debt 70%)
INVESTMENT PURPOSE AND ALLOCATION
The project developer Witech Africa, has set up a Special Purpose Vehicle company called Mustapha Energy for housing the Athlone Waste to Energy project in Cape Town. Mustapha Energy is supported by the Nordic Development Fund in the development phase through a co-funded repayable grant. The development will establish all the permitting and specialist reports to bring the business case for a 3 MWe waste to energy plant utilising residual low calorific value waste as fuel and to produce a refuse derived fuel for a large listed cement producer. This will be the first of its kind ecosystem in Africa. Funding is sought for the different phases of the project starting at Development, Commercial Demonstration and then the Final facilities for the main project implementation. The total project budget is 25 Million USD and is expected to be based on a 30:70 equity to debt ratio and to be fully constructed by mid 2025.
Existing partners & commitments
Witech Africa
The Nordic Development Fund ( Environment and Energy Partnership)
Moshading Capital
Waste Mart
Commitment to use land in Freeport Saldanha IDZ for phase 1
Address
VUKA Group
Ground Floor, Ebden House, Belmont Park, Rondebosch. 7700, Cape Town, South Africa
Contact
+27 (0)21 700 3500
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