Xaris to meet deadline

The Xaris power plant which is curently in the planning phase will meet its June 2016 deadline according to Xaris Managing Director Hennis Steyn who further put to rest claims that the power project was canned.

He said, “Kindly be advised that Xaris Energy is in a formal process with Nampower regarding this project and all activities continuing as planned. “The project is well under way. All the major hurdles, including environmental impact assessments, have been undertaken with full participation by the majority of all affected stakeholders,” said Steyn. “We are confident that the due diligence by lender advisors will be completed before the end of June 2015.”
Xaris was officially appointed as the preferred bidder in October 2014. In March 2015, Cabinet approved the Walvis Bay Power Plant project and subsequently, during a special NamPower Board meeting in March 2015 a Final Investment Decision (FID) was taken that the Tender must be awarded to Xaris.
Steyn said that Xaris was in the process of concluding the remaining agreements with other parties, including the Municipality of Walvis Bay and other stakeholders. “It is our firm intention to address all concerns by industry and citizens in general. Ensuring transparency and accommodating the interests of all stakeholders is our number one priority.”
Added Steyn, “our funders, including international banks, conduct regular audits and are satisfied that the project is running on budget. The project is well under way. All the major hurdles, including environmental impact assessments, have been undertaken with full participation by the majority of all affected stakeholders. We are confident that the due diligence by lender advisors will be completed before the end of June 2015.”