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Kosovo Update

20 December 2017 | London | Author: ContourGlobal plc

As previously anticipated, ContourGlobal and the Republic of Kosovo have today signed project agreements constituting Commercial Close for the construction of a new 500MW power plant, including the Power Purchase Agreement, Lignite Supply Agreement, and other related agreements.  The agreements are subject to normal and customary conditions precedent, including approval by ContourGlobal's Board of Directors.  The Government of Kosovo has approved the agreements.  Following this milestone, it is anticipated that the project will reach financial close and begin construction in late 2018 or early 2019.