The stage is set for the next phase of lender due diligence and documentation needed to reach project financial closure and begin construction of the Amaila Falls Hydroelectric facility, scheduled for the second quarter of 2013, now that the contract for the engineering, procurement and construction (EPC) has been signed.
According to a press release from Sithe Global Inc and the Amaila Falls Hydro Inc, the due diligence and documentation phase is expected to conclude in nine months, which is within the window of price certainty pursuant to the EPC Contract. “AFH expects financial closure in the second quarter of 2013, with construction beginning immediately thereafter,” it said.
It noted that the access road project is to be completed prior to
