CIC signs development deal for Mmamabula
source: Mmegi
BRIAN BENZA
Staff Writer
The promoters of the Mmamabula Energy Project (MEP), CIC Energy, are pressing ahead with their ambitious plans to build the 1200 MW plant in Botswana despite the glitch they faced last week concerning the power purchasing agreement with Eskom of South Africa.
Barely a week after announcing that the off-take of the project was likely to be delayed by at least a year, CIC came back to excite the market this week by announcing the clinching of a project development agreement with International Power (IPR), a British independent power generation company.In a statement, TSX-listed CIC said on Monday it had signed a project development agreement with International Power with respect to its $3 billion (P22 billion) Mmamabula project.
“The agreement had been negotiated in accordance with [continue reading]
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