Replies to post #5789 on BioPower Operations Corp (BOPO)

[sch100]

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G. The PARTICIPANTS will undertake agreements with the Sovereign Government of South Africa and its related ministries, including the Treasury, the Ministry of Electricity, the Department of Cooperative Governance and Traditional Affairs (COGTA), (collectively the “SOUTH AFRICAN GOVERNMENT”).

H. The PARTICIPANTS will undertake agreements with “METBANK”, an advisor to the SOUTH AFRICAN GOVERNMENT.


2.1. COGTA Guidance Memorandum (11 April, 2023) provided for PowGex and Metbank, the key points of which are:

2.1.1. Funding: COGTA is allocated Embedded Generation funding by National Treasury to give to qualifying municipalities. COGTA has already allocated more than R47 Billion ($2.56bn USD) to various municipalities to acquire embedded generation. All the municipalities who have been allocated the funds to acquire embedded generation have not spent those funds due to lack of embedded generation service providers. We will be excited to facilitate a Power Purchase agreement between the municipalities and PowGex.

2.1.2. Municipal Power Purchase Agreements: COGTA will be allocating another R89 Billion ($4.84bn USD) to municipalities for embedded generation in this coming financial year of 2022/2023. We can collaborate with Metbank and PowGex to secure the Power Purchase Agreements from the municipalities that have already been given the embedded generation funds.

2.1.3. Participation of provincial governments: COGTA will facilitate the participation of provincial government through our provincial COGTA offices.

2.1.4. NERSA Permits (National Energy Regulator of South Africa): COGTA will also facilitate the necessary permits from NERSA as to ensure the PowGex and Metbank Solar Energy projects are compliant.

[BeanbrainGetsGoing]

BOPO is absolutely a joke. Friggin' scam.