77 Construction USA Corp (“77 Construction USA Corp” or the “Seller”) has proposed to design, build, finance, commission, operate, and maintain a 25 MW MWe / 30,4 MW wind powered electric generation facility (the “Project”) in the Province of Herat, Afghanistan, and shall sell all generated energy by the Facility to Da Afghanistan Breshna Sherkat (“DABS” or the “Purchaser”) for 20 years with the proposal submitted to United States Agency for International Development (“USAID”) under Afghanistan Broad Agency Announcement (‘’BAA’’) for Energy Program on September 04, 2018.
77 Construction USA Corp’s proposal was green lighted by USAID for further considerations on December 10, 2018. 77 Construction USA Corp shared all the technical and financial details of the Herat WF Project with USAID after this date. On 14 March, 2019, 77 Construction USA Corp was informed that Government of Afghanistan authorities such as DABS, Ministry of Energy and Water (“MEW’’), Land Authority (“ARAZI’’), National Environmental Protection Agency (“NEPA’’) and Central Partnership Authority (“CPA’’) are fully involved in the BAA Projects and are helping to support and facilitate in completing the co-development and finally implementation of the Project.
The Power Purchase Agreement (‘’PPA’’) negotiations are on going with DABS, the parties are planning to sign the PPA agreement on October 2020.