The deal, clinched in late December, would have seen Brancor shell out €317,000 ($420,000) per MW for the 252MW project – equivalent to nearly €80m, and a critical lifeline for loss-making PNE.
The money was to be paid in three installments, with the first two – due on 29 February and 25 March – covering 50.1% of the total.
Brancor was then obliged to stump up the final 49.9%
