Multiconsult UK has been appointed by PNG Power Ltd, the public power authority, to provide transaction advisory services for the Naoro Brown Hydropower Project.
- The award shows that Multiconsult has a good reputation and a strong position in the international hydropower market and that we have solid partners. With increasing market opportunities across Asia, this assignment is an important stepping stone in further establishing Multiconsult as a leading provider of transaction advisory services across the region, says Christian Nørgaard Madsen, CEO, Multiconsult ASA.
The contract entails technical engineering and environmental inputs to a Project Development Agreement (PDA), financial modelling and legal structuring, preparation of agreements and assistance with the bidding process. The legal services will be provided by two law firms, King & Spalding and Allens. The project is expected to complete in 2017.
The installed capacity of the Naoro Brown Project will be 80 MW, providing much needed electricity to the population of Papua New Guinea.
- Papua New Guinea has abundant hydropower resources, but very little has been developed. Yet about 90 percent of the population has no access to electricity. Socially-responsible preparation and development of hydropower resources can make a significant contribution to the social and economic development in the country, says Knut Erling Norén, Managing Director, Multiconsult UK.