Invictus, Mbuya Sign a 500MW Gas to Power Plant MoU

Australia Stock Exchange-listed oil and gas exploration junior Invictus Energy…


Australia Stock Exchange-listed oil and gas exploration junior Invictus Energy Limited has executed an updated Gas Supply MOU with Mbuya Energy (Mbuya) for the supply of gas to their proposed 500 MW Gas to Power project, Invictus CEO and Managing Director Scott MacMillan said.

Rudairo Mapuranga

Mbuya is a Zimbabwean consortium led by IPP developer Tatanga Energy (“Tatanga”). The consortium, which includes existing Invictus’ institutional shareholder Mangwana Opportunities Fund, is seeking to develop a 500MW Gas to Power project.

The updated MOU builds on the previous non-binding memorandum of understanding (MoU) with local energy firm Tatanga Energy (Private) Limited for a 500-megawatt (MW) ‘Gas to Power Plant’ estimated to cost about US$800 million.

According to MacMillan, the plant can be expanded in future phases to up to 1,000MW (equating to a forecasted demand of approximately 1.4 trillion cubic feet of natural gas over 20 years). The updated MOU will see the parties work together to assess the feasibility of developing the project utilizing gas produced from the Mukuyu field or any other field developed in the Cabora Bassa project.

“Signing this MOU with Mbuya Energy to develop a 1,000MW Gas to Power project is another significant step forward in our early commercialization strategy as we look to progress the Cabora Bassa project following our gas discovery at Mukuyu.

“The potential offtake is a substantial volume of gas of up to 1.4 trillion cubic feet which will underpin the commercialization of the Mukuyu gas field. This MOU demonstrates the huge demand in an energy-starved market in Zimbabwe and the wider region.

“Natural gas and power are in high demand in southern Africa due to increasing supply shortages of natural gas from mature fields that are now in decline, the retirement of over 10,000 MW of aging coal-fired power infrastructure in the region and the increasing adoption of gas for industrial use and as a source of cleaner energy.

“We look forward to working closely with Mbuya Energy and our partners One-Gas Resources to progress the project and with the ultimate goal of providing reliable and affordable baseload power to Zimbabwe and the region,” MacMillan said.

Tunde Akerele, Mbuya Energy Director, said the Power Project will be developed in line with world-class standards and will support the further integration of renewable sources of energy into the National Grid.

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Akerele said the project will be designed to minimize its environmental footprint and will utilize an efficient Combined Cycle Gas Turbine configuration (CCGT) that will incorporate cutting-edge carbon reduction technologies.
“We are thrilled to join forces with Invictus and One Gas Resources to not only unlock the immense potential of the Mukuyu discovery but also pave the way for a cleaner and more sustainable energy future for Zimbabwe.

“This MoU signifies a critical step forward in transitioning Zimbabwe away from its reliance on coal power generation and towards a more diversified energy mix that includes natural gas and renewables. The introduction of much-needed dispatchable energy for the national grid will enhance energy security, reliability, and facilitate the increased integration of renewables.

“The project also has significant potential to drive economic growth, fostering new industries, creating jobs, and stimulating broader economic development across Zimbabwe. We are confident that the Gas-to-Power Project represents a turning point for Zimbabwe’s energy sector and its journey towards a cleaner and more prosperous future.

“We look forward to collaborating with Invictus, One Gas Resources, and all stakeholders to bring this transformative project to fruition and unlock a brighter energy and economic future for the nation,” he said.



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