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OUR's stance on 360 megwatt project bidder supported by OCG
2:42 pm, Thu March 6, 2014
The Office of the Contractor General (OCG) is in support of the stance taken by Office of Utilities Regulation (OUR) in not providing a recommendation to the Energy Minister, to issue a licence to Energy World International (EWI) - the preferred bidder for the 360 megawatt project.
The OCG says a license should not be issued until the EWI has fulfilled its obligations in providing the relevant documentation required as a part of the due diligence exercise.
On January 31, the OCG wrote to the OUR and made reference to the Instructions for Final Proposals in which it was a requirement that all bidders submit audited financial statements for the past three years.
This should be supported by the parent entity’s or equity partner’s audited financial statements.
The OCG notes with concern, that the requirement has not yet been fulfilled by the EWI.
The OCG cautions that this apparent delay on the part of EWI, has serious implications for the due diligence process being undertaken by the OUR and the timely and successful execution of the 360 megawatt project.
2:42 pm, Thu March 6, 2014
The Office of the Contractor General (OCG) is in support of the stance taken by Office of Utilities Regulation (OUR) in not providing a recommendation to the Energy Minister, to issue a licence to Energy World International (EWI) - the preferred bidder for the 360 megawatt project.
The OCG says a license should not be issued until the EWI has fulfilled its obligations in providing the relevant documentation required as a part of the due diligence exercise.
On January 31, the OCG wrote to the OUR and made reference to the Instructions for Final Proposals in which it was a requirement that all bidders submit audited financial statements for the past three years.
This should be supported by the parent entity’s or equity partner’s audited financial statements.
The OCG notes with concern, that the requirement has not yet been fulfilled by the EWI.
The OCG cautions that this apparent delay on the part of EWI, has serious implications for the due diligence process being undertaken by the OUR and the timely and successful execution of the 360 megawatt project.
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