Projects overview
Principle Energy strategically selects and advances projects to maximise investor returns while supporting its objectives for social and environmental sustainability.
Sugar cane growing sites are selected for optimal growth, on large contiguous plots of minimally populated land proximal to key infrastructure, including roads, power and ports. Full government and community support of projects is paramount to Principle Energy, as is alignment with sovereign objectives for land use and environmental and social profiles regarding food, biofuels, and environmental reserves.
Principle Energy has established its initial project in Dombe, Mozambique. The site covers 23,000 hectares, with up to 20,000 hectares to be planted for irrigated sugar cane. The site is characterised by plentiful water for irrigation, fertile soils, and an excellent climate for superior sugar cane yields. The facility focuses on the conversion of up to 2.5 megatons of sugarcane to 65 million gallons of ethanol and about 13 megawatts of exportable electrical power. The project is anticipated to employ over 1,600 people at maturity, and to support the development of numerous tertiary related business opportunities in the Dombe community, providing additional employment and local economic opportunities.
Principle Energy has secured Mozambican government approval for this project, one of only two renewable fuels projects approved to date by the government. Principle Energy has finalised approximately $50 million in funding for the first major development stage, with subsequent funding to be provided by project financing, and additional equity to be raised at a later date as required.
Bosch Projects (Durban, South Africa) has been appointed to manage the development of Principle Energy's Dombe project in Mozambique.
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