Solar Firm Seeks to Seize Lesotho’s Share in Undersea Cable
- Trans-Caledon royalties and Eskom payments could be taken
- Frazer Solar won damages award after contract breached
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Lesotho is facing the loss of revenue from water and power sales to South Africa and may see its share of an undersea communications cable seized after it breached the terms of a contract with Frazer Solar GmbH.
Under a global enforcement order, following the award of 50 million euros ($61 million) in damages in an arbitration case in South Africa, Frazer said in a statement Tuesday that it has taken legal action to seize royalties that would be paid to Lesotho’s government by the Trans-Caledon Tunnel Authority SOC as well as payments for power from Eskom Holdings SOC Ltd.