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Banks refuse to fund emergency power providers before completion of court case against Karpowership
A court case filed by a losing bidder in South Africa’s emergency power programme threatens to delay the provision of the electricity by months as banks balk at providing funding because of the risk of an adverse judgment.
Officials at three of the seven preferred bidders selected to provide power by August 2022 said the lenders are refusing to sign off on the projects until the court case is complete.
They asked not to be identified because the talks are confidential.
[Bloomberg]
A court case filed by a losing bidder in South Africa’s emergency power programme threatens to delay the provision of the electricity by months as banks balk at providing funding because of the risk of an adverse judgment.
Officials at three of the seven preferred bidders selected to provide power by August 2022 said the lenders are refusing to sign off on the projects until the court case is complete.
They asked not to be identified because the talks are confidential.
[Bloomberg]
