Tetris – Legal & Financial

Overall Progress

A de-risked power project with scalability in an energy deficit region

Operating power plant with a planned

  • Mine mouth 300 MW coal based power plant utilising Circulating Fluidised Bed Combustion (“CFBC”) technology
  • Fuel resources well in excess of the PPA period (including expansion to 600 MW)
  • coal stockpile large enough to meet 1.25 years of coal requirement
  • The power plant commenced supply of electricity in Q4 2016
  • USD denominated PPA with competitive tariffs split between a capacity charge and an energy charge
  • Implementation and Investment Protection and Promotion Agreements signed with the GoZ
  • Planned expansion program to increase the plant capacity to 600 MW expansion program

Strong and attractive financial returns

  • Consistent earnings expected from sale of electricity under 20 year PPA agreement supported by a capacity charge and energy charge components of the tariff
  • The plant is expected to be dispatched on a priority basis on merit order
  • Being a base load station it is expected to operate at high load factors
  • Robust forecast profit margins based on agreed tariffs and expected cost structure underpinned by a mine mouth fuel supply
  • Opportunity to export power to the regional power grid, and also to high energy users directly to diversify revenue sources away from the local utility

Upside available from sale of high grade coal