https://www.miningweekly.com

AFC commits $3m to Ncondezi development

31st August 2016

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – The Africa Finance Corporation (AFC) has committed an additional $3-million loan facility to Ncondezi Energy to fund ongoing project development costs at its 300 MW coal-fired power project in Tete, Mozambique.

The loan, which will be paid in two tranches, will be used to cover costs not included in the joint development agreement (JDA) between Ncondezi and Shanghai Electric Power (SEP).

SEP is investing up to $25.5-million to fund the development costs to financial close in return for a 60% equity interest in subsidiary company Ncondezi Power.

The $1-million first tranche of AFC’s loan is repayable in 2017.

The second tranche of $2-million has a 24-month term from first drawdown and is conditional on the completion of the JDA with SEP and Ncondezi providing an appropriate security package.

Edited by Creamer Media Reporter

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
Updated 6 hours ago
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.144 0.182s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: