Private Power and Infrastructure Board has granted LOS extension to Mira Power Limited without doubling the bank guarantee for further one year
Recognizing the progress on the Project Development activities of Korean Consortium through hiring professional team like selection of EPC Contractor through bidding process, acquisition of land for Project, preparation of Environmental Impact Assessment Preparation for negotiation of Project Agreements (Power Purchase Agreement, Water Use Agreement, Land Lease Agreements, AJ&K Implementation Agreement, GoP Implementation Agreement etc. Further, the success of getting Letter of Intent from leading banks i.e. ADB, IFC and K-Exim for the project financing.
Especially, the fact pace progress of acquiring the Mira Power Limited through completing Condition Precedents fulfilling the requirements of SSPA, Private Power & Infrastructure Board recognized the efforts of Mira Power by issuing LOS extension without doubling the bank guarantee for further one year. This extension will surely help the professional team of Mira Power Limited to achieve the financial close within due course of time by providing peace of mind and professional approach.