Central Térmica de Ressano Garcia (CTRG), a joint venture between Sasol Energy and Electricidade de Moçambique (EDM) has inked a $189-million finance deal to fund its project.

Arranged by Absa Bank, the project finance comprises of two trenches – A and B loans from the International Finance Corporation, a direct loan from Société de Promotion et de Participation pour la Coopération Economique and a political risk covered loan from Absa.

CTRG, in which EDM holds a 51% stake and Sasol Energy the balance, operates a 175 MW gas-fired independent power producer plant, comprising 18 Wartsila gas engines.

Sasol provided the bridge funding to the project up to the successful conclusion of the project finance.

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