Kaishan Group (300257.SZ) received the remaining EPC contract payment of 57 million US dollars for the Sosian Menengai geothermal project in Kenya.

12:00 07/11/2024

Kaishan Stock (300257.SZ) Announcement: The company's wholly-owned subsidiary, Kaishan Renewable...

Kaishan Group (300257.SZ) announced that its wholly-owned subsidiary, Kaishan Renewable Energy Development Pte., Ltd. (KRED) and its Kenyan subsidiary recently received the remaining EPC contract payment of 57 million US dollars for the Sosian Menengai geothermal project in Kenya. In addition, Sosian Menengai Geothermal Power Limited (SMGPL or the owner) has paid KRED 57 million US dollars in interest corresponding to the contracted amount in accordance with the EPC contract. KRED has received a total of 3.1574 million US dollars in interest from SMGPL for the period of February to November 2024. As of the date of this announcement, all payments related to the EPC contract have been settled and received in full.

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