Lotus Resources Signs Agreements for Africa Project

MT Newswires Live

04/01

Lotus Resources (ASX:LOT) has signed agreements with the Electricity Supply Corporation of Malawi (ESCOM) for its Kayelekera Project's connection to Malawi's power grid, according to a Tuesday filing with the Australian bourse.

The Power Implementation and Power Supply Agreements (PIA and PSA) outline Lotus's responsibility to finance, design, and build a transmission line and substation, with ownership transferred to ESCOM after completion, the filing said.

The PSA, effective for 10 years, will supply electricity based on Malawi Energy Regulatory Authority tariffs, the filing added.

Environmental approvals are in place, with grid connection targeted for 2026, the company added.

Price (AUD): $0.18, Change: $+0.0100, Percent Change: +6.06%

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