Central Térmica de Ressano Garcia (CTRG), a joint venture between Sasol Energy and Electricidade de Moçambique (EDM) has inked a $189-million finance deal to fund its project.

Arranged by Absa Bank, the project finance comprises of two trenches – A and B loans from the International Finance Corporation, a direct loan from Société de Promotion et de Participation pour la Coopération Economique and a political risk covered loan from Absa.

CTRG, in which EDM holds a 51% stake and Sasol Energy the balance, operates a 175 MW gas-fired independent power producer plant, comprising 18 Wartsila gas engines.

Sasol provided the bridge funding to the project up to the successful conclusion of the project finance.

Previous articleMozambique ruby project insurance claim settled
Next articleCoral FLNG project set to return country to growth