According to bank documents, this summary covers an equity and shareholder loans /quasi equity investments from Mettle Solar Investments Pty Limited into Metdecci Energy Investments (Pty) Ltd in Namibia. Mettle applied for MIGA's guarantees to cover its equity and shareholder loans /quasi equity investments of about US$ 5 million, for a period of up to 15 years against the risks of Transfer Restriction, Expropriation, Breach of Contract, and War and Civil Disturbance.
The Project entail the construction, ownership, operation and maintenance of a 5 MW solar energy generating facilities, outside of Karibib town in the Erongo region of western Namibia. The electricity output will be sold to the Namibia Power Corporation (Pty) Ltd under a 25-year Power Purchase Agreement. The Project was awarded through the Namibia's Renewable Feed in Tariff (REFIT) Program.
*Contact information not provided at the time of disclosure*
ACCOUNTABILITY MECHANISM OF MIGA
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