Update rns18 Dec 2019 08:01
Highlights:
· Tariff financial model kick off meetings with strategic partners, advisors and lenders completed in Beijing, China
· Work programme and allocation of responsibilities for tariff finalisation and submission to Electricidade de Moçambique ("EDM") agreed
· Letter of Interest ("LoI") received from Industrial and Commercial Bank of China ("ICBC") to provide debt financing for the Project
· Ncondezi targeting minimum debt financing of 70% of Project capital cost
· Indicative financing terms expected to be received late December 2019
· Updated EPC and O&M bids submission schedule on track for first submission late December 2019 with supporting information in early January 2020
· Tariff submission remains on track for early Q1 2020
· Target tariff negotiation finalisation expected during H1 2020