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This 100% needs a clarification statement from NCCL. Although, haven't we been here before with the CMEC statement previously along similar lines, which was then confirmed that it applied only to "new" projects, i.e. ones that were not commissioned.
Hopefully that is the situation here too...but need to hear that from the Company
I thought the EPC contract was meaningless - my dog (probably more credit worthy than NCCL) could sign an EPC contract with CMEC. I was thinking there was/is no value in it. Nobody would be fulfilling any contract as zero funds exist.
Maybe the timing was someone shutting the stable door before the horse bolted - in which case it would be a positive ?
NCCL/CMEC should at the very least clarify the position to projects under consideration.
I'm hoping EDM and Moz are taking a good hard look at themselves right now as well. As critical as I've been of Hanno's stewardship, judgement and foresight, he isn't responsible for the hold-ups. Appears Moz gov.t has scored an own goal on their electrification program and this part of Africa will remain in the dark ages for a while longer.
It is not our best day.
Still nothing from Hanno and co. I wonder if they're now going to make some sort of statement about the coal project or keep hiding behind the usual rubbish. Turns out doing some PR on the EPC wouldn't have made any difference to what Xi has just said anyway. Dare I say now is the time to provide some sort of clarity and information on the 'green' side of the business.
“China will step up support for other developing countries in developing green and low-carbon energy, and will not build new coal-fired power projects abroad.”
President Xi
what is going on here big drop
China brought 38.4 gigawatts of new coal-fired power into operation last year – more than three times what was brought on line globally.