Prophecy Coal to raise USD 800 million for Mongolia power plant: "Reuters reported that Canadian energy firm Prophecy Coal Corporation expects to raise USD 800 million in debt and equity financing by September 2012 to build a coal fired 600 MW power plant in Mongolia and expects to conclude a power purchase agreement with the Mongolian government by May 2012.
Mr Joseph Li, a director and chief operating officer of Toronto listed Prophecy Coal, said that the price is expected to be slightly less than the 8 cents per kilowatt hour the government currently pays for importing electricity from neighboring Russia. The agreement is expected to last at least 25 years."
'via Blog this'
