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