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Friday, January 6, 2012
Talk regarding the long delayed Kudu Gas Plant moving forward is once again making the rounds. According to Nambia’s Nampower the plant could come onstream in 2016 if it can secure an equity partner with deep pockets. The utility firm is looking for a partner to partially finance the $1.1 billion project.
Nampower managing director, Paulinus Shilamba told journalists that the utility will start pumping power from the Kudu gas fields by 2016. However the project requires Nampower, which is subsidized by the government, to meet its own financial obligations in constructing the power plant.
“This is a huge project and we have no capacity to finance it alone,” Shilamba said. Thus, the company plans to farm out 49% of the power plant to the private sector.
Tenders for the EPC, operations and maintenance are expected to go out shortly. There will also be a tender for equity partners to take up the 49% equity which will lead to a final investment decision by mid-2012, the implementation of the project as from the end of 2012, and commercial operation by 2016.
The Kudu gas fields, slated for feedstock for the plant, are operated by Tullow Oil partnered with Itochu Corp. and Namcor. Namcor is trying to snag Gazprom to develop the Kudu gas field.
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