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Monday, September 29, 2014
Shanghai Electric and Siemens AG were selected as the preferred bidders by Namibia’s power utility NamPower to construct the country’s 800 MW Kudu power station.
NamPower’s MD Paulinus Shilamba, speaking to attendees at the Namibia International Oil & Gas Conference, said: “I can announce as breaking news that we have selected Shanghai Electric Group with Siemens AG as our preferred bidder. The NamPower Board approved this a week ago,” Shilamba said.
Shilamba further revealed that Standard Bank Namibia was selected as mandated lead arranger (MLA) to handle the project financing with RMB Namibia as MLA reserved bidder. “Negotiations will start soon with the selected bidders,” Shilamba added.
NamPower has been waiting for the government to supply guarantees for the Kudu project. “In the absence of the $1.3 billion project receiving timely government guarantees, the project is likely to be further delayed,” according to NamPower’s coordinator for the Kudu power station, Muyenga Muyenga “The final investment decision by government for the Kudu power station is expected in December, financial closure by March 2015 and construction to start at that time.”
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