JSW Energy signs MoU to set up thermal power plant in Swaziland
The Dollar Business Bureau
JSW Energy Ltd. on Monday signed a Memorandum of Understanding (MoU) to establish a thermal power plant and related project in Swaziland.
The India-based energy giant signed an agreement with the Swaziland Electricity Company (SEC) and the Swaziland government to set up plant with an aim to facilitate energy security and make Swaziland self-reliant in power by exploiting the resources available in the country.
“The capacity of the power plant to be set up will be decided by JSW Energy in consultation with SEC based on the coal resources found during the exploration of an area of approximately 16,000 hectares to be prospected by JSW Energy under a prospecting license granted to them,” JSW Energy said in a statement.
The total thermal power demand of Swaziland currently stands at about 300 MW. The decision will help the country meet its energy demand, while giving JSW Energy and SEC opportunities to export power to the neighbouring countries which are connected with a common network.
The agreement enables setting up a thermal power plant and undertaking mining activities pursuant to completion of agreements, a power purchase agreement (PPA) to be ensured by the Swaziland government and fuel supply agreement from capital coal resources.
The MoU also guarantees facilitation of various approvals including associated infrastructure facilities to encourage coal mining, evacuation and allied work and power generation.
The India-based company has a diverse range of interests including carbon steel, industrial gases, cement and information technology, mining, power and port facilities.