Jindal finalises P15bn funding for Mmamabula :: Mmegi Online

Jindal Africa has finalised arrangements for P15 billion in funding required for the Mmamabula Energy Project, a project that involves a coal mine and a 300MW power station in eastern Botswana, boosting the country’s energy self-sufficiency.

The eagerly-awaited power project, one of the two final coal-fired plants planned for the country, is being developed as an Independent Power Project with Jindal carrying the costs of building the power station, running and maintaining it, whilst selling the power to the Botswana Power Corporation (BPC) under an agreement known formally as a Power Purchase Agreement (PPA).

On Tuesday evening, Jindal officials celebrated financial close on the project, a term that refers to the finalisation of all financial arrangements for a project, which allows the project to be implemented.

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