Sym­bion Power to es­tab­lish 30MW power plant in Ruangwa for Nachu Graphite project

The African - - NEWS - BY JOSEPH LINO

The Amer­i­can en­ergy firm Sym­bion Power will de­velop and op­er­ate 30MW gas-fired power sta­tion in Ruangwa in Lindi re­gion. The power will be con­nected to 132kV trans­mis­sion line to con­nect Nachu Graphite project to the main grid.

Sym­bion Power has en­tered into agree­ment to pro­vide to­tal power so­lu­tions for Mag­nis Re­sources’ Nachu graphite project.

Ac­cord­ing to the state­ment made avail­able to The African, Sym­bion and Mag­nis Re­sources have se­cured ap­proval from the Tan­za­nia Elec­tric Sup­ply Com­pany (TANESCO) to con­tinue with the de­vel­op­ment.

Mag­nis Re­sources Chair­man, Frank Poul­las said the com­pany has closely stud­ied a va­ri­ety of power sup­ply op­tions for Nachu.

“We be­lieve this agree­ment rep­re­sents the most at­trac­tive and vi­able path­way to pro­vide a sta­ble power sup­ply for Nachu,” he said.

He noted that Sym­bion is a firm with vast ex­pe­ri­ence around the world and es­pe­cially in the Tan­za­nian power sec­tor.

Ac­cord­ing to Mag­nis would now un­der­take fur­ther de­tailed work and com­plete an en­vi­ron­men­tal im­pact as­sess­ment for the power project.

More than demon­strat­ing the tech­ni­cal, eco­nomic and en­vi­ron­men­tal fea­si­bil­ity of the power project, Sym­bion will fund, de­velop and build the elec­tric­ity in­fra­struc­ture for Nachu and han­dover as turnkey project. ex­pan­sion of the net­work’s mis­sion to be­come the pre-em­i­nent global plat­form ded­i­cated to pri­vate sec­tor con­nec­tiv­ity in sub-Sa­ha­ran Africa.

Hinks re­tired as the Chair­man of the Cor­po­rate Coun­cil on Africa (CCA) in the United States in April af­ter four years of ser­vice, as­sumed his new po­si­tion at In­vest Africa on May 9, this year and con­tinue as a board mem­ber at CCA.

In­vest Africa is a pri­vate global net­work of de­ci­sion mak­ers at some of the world’s lead­ing in­vest­ment or­ga­ni­za­tions, and pro­vides its mem­bers with a multi-ser­vice plat­form for ac­cess and in­vest­ment on the con­ti­nent. The mem­ber­ship in­cludes fund man­agers, pri­vate and in­sti­tu­tional in­vestors, fam­ily of­fices, se­rial en­trepreneurs, cor­po­ra­tions and pol­icy mak­ers and thought lead­ers.

In just three years, In­vest Africa has grown to in­clude over 350 mem­bers from all across Europe, the United States, the Mid­dle East and Africa, with rep­re­sen­ta­tion and strong lead­er­ship in New York, London, Geneva, Dubai, La­gos and Jo­han­nes­burg.

Hinks has over 36 years of en­ergy sec­tor ex­pe­ri­ence in Africa and other parts of the de­vel­op­ing world.

In a re­join­der Hinks con­tin­ued, “a key chal­lenge for cred­i­ble in­vestors has been find­ing the right part­ners and ac­cess to good deals in Africa. In my new role as In­vest Africa’s Chair­man for the United States, I will fo­cus on bring­ing to­gether se­ri­ous Amer­i­can in­vestors who seek op­por­tu­ni­ties on the con­ti­nent.”

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