African Energy signs MoU with undisclosed taker for Sese Power Plant
by Jerry Bungu
African Energy Resources (AFR) has announced that it has executed a Memorandum of Understanding with a potential off-taker for the electrical output of AFR’s proposed 300MW coal-fired power project to be located at Sese in north eastern Botswana, Stockbrokers Botswana has said in its weekly report.
The off-taker is a credit rated national electrical utility and a member of the Southern African Power Pool, the company has reported.
However, the Memorandum of Association is non-binding in nature and provides an opportunity for the off-taker to make full assessment of the Sese Power Project, at which time the parties will decide whether to enter into binding agreements to jointly develop and finance Sese Power Project, the report said without disclosing the potential taker.