DILI, 04 March 2026 (TATOLI) – The government has approved the creation of a fiduciary account to support the development of the TIM Solar Power Plant project and ensure the operationalization of the state guarantee linked to the initiative.
The decision was endorsed by the Council of Ministers on Wednesday through a draft resolution presented by Finance Minister Santina Cardoso.
Under the resolution, the Ministry of Finance and Eletricidade de Timor-Leste (EDTL) will open a trust account at the Central Bank of Timor-Leste to facilitate the implementation of the state guarantee associated with the solar energy project.
The measure stems from a Power Purchase Agreement signed between EDTL and the international consortium responsible for developing the project.
The trust account aims to ensure that, if the state guarantee is triggered, the necessary financial resources will be readily available to fulfill payment obligations while maintaining transparency and traceability of financial operations.
“In accordance with the government resolution now approved, the Ministry of Finance will open the fiduciary account with a maximum amount of US$18 million, intended exclusively to cover potential payments under the state guarantee related to the TIM Solar Panel Project,” the government said in a statement.
The statement added that the amount will be deducted from the US$121.9 million already allocated for transfers from the State Budget to EDTL under Program 802 – Electricity, which aims to ensure the continuity of public electricity supply services.
Journalist: Camilio de Sousa
Editor: Filomeno Martins
