Zambian Energy Co. Grabs Stake In $1B Namibian Power Plant

Law360, New York (February 11, 2014, 1:33 PM EST) -- Zambia-based Copperbelt Energy Corp. PLC last week signed joint development and power export agreements with Namibian utility NamPower to grab a 30 percent stake in the Kudu Power Station, a delayed $1.2 billion gas-to-power plant in Namibia.

NamPower currently owns all of Kudu's development company, which has languished in financing shortfalls. The company said that it plans to sell a combined 49 percent stake in the planned combined-cycle power plant, which will produce 800 megawatts from the natural gas piped in from a regional offshore field....
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