According to bank provided information, on December 8, 2021, MIGA signed contracts issuing guarantees totaling US$251.3 million to Globeleq Africa Limited, Sasol Africa Proprietary Limited, and Moz Power Invest, S.A. for their equity and quasi-equity investments in the Central Termica de Temane gas-fired power plant project in the Republic of Mozambique. The guarantees are issued for up to 20 years against the risks of transfer restriction and breach of contract.
The project consists of the design, construction, ownership, operation, maintenance, financing and management of the 450 MW (net capacity) Central Termica de Temane greenfield gas-fired power station, insurance of said activities and of assets and income associated thereto, the conversion by the power station of natural gas as supplied by EDM into electricity on behalf of EDM by making available to EDM the dependable power generation capacity and electrical output of the power station in consideration for payment, the interconnection with the national transmission network, use of water resources, and the provision of incidental services and all related activities(the Project or CTT). The Project will be an independent power producer, generating an average of 3,143 GWh annually (under current dispatch assumptions) for sale to Electricidade de Mocambique E.P. (EDM) under a 25-year Tolling Agreement. The electricity produced by the Project will be injected into the national grid and sold by EDM to Mozambican end-consumers and to neighboring countries under bilateral contracts or through the Southern African Power Pool. The termination payment obligations of EDM will be guaranteed by the Government of Mozambique represented by the Ministry of Mineral Resources and Energy (MIREME). Construction is expected to begin in January 2022 and operations around November 2024.
The project is located in northern Inhambane Province, Mozambique, approximately 30 km southwest of the town of Inhassoro, 20 km inland from the coast.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Globeleq Africa Holdings Limited||Client||-|
|-||-||-||-||Sasol Africa Proprietary Limited||Client||-|
*Contact information not provided at the time of disclosure*
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