TANZANIA SIGNS ELECTRICAL AGREEMENT

(20th June, 2013): General Electric and Symbion Power Tanzania Ltd. today signed a “Cooperation Agreement” with the objective of developing the 400MW gas-fired power plant in Mtwara to boost electricity in the south and the rest of the country.

The project, to be located in Mtwara, is part of expansion plans for TANESCO, and will also include a transmission line from Mtwara to Songea.

Speaking during the signing ceremony at the offices of the Ministry of Energy and Minerals, GE Vice Chairman, President and CEO, GE Global, Growth & Operations, Mr. John Rice(L) said, “GE is committed to partnering with stakeholders to accelerate economic growth in Tanzania and the rest of Africa.”  He said, “a sustainable power supply continues to hamper Africa’s progress and Tanzania is no exception.”

“Tanzania is growing rapidly and to ensure we have an enabling environment that supports sustainable economic growth, we need to overcome inhibiting challenges such as interrupted power supply.  This project will do just that,” said Mr. Rice.

 In this agreement GE will cooperate and collaborate with Symbion Power by providing technical and development support, including engineering studies, financial structuring and support with lenders and guarantee providers.

The Cooperation Agreement was signed(L) by Jay Ireland, President and CEO, GE Africa and(R) Don Brindle, General Manager, Symbion Power Tanzania in the presence of the(C) Minister for Energy and Minerals, Hon. Prof. Sospeter Muhongo who hailed the partnership as one that will enhance development for the energy sector in Tanzania.

“Today marks a key milestone that will change the face of Tanzania’s energy sector. GE continues to be a trend setter in provision of proven technology in power generation and in oil & gas exploration and extraction,” he said adding that, natural gas now accounts for 22 per cent of the world’s energy consumption and the demand is growing.

Symbion Power Tanzania Ltd. General Manager Don Brindle expressed his company’s enthusiasm in continuing its long-term relationship with GE, noting that natural gas is an environmentally-friendly and efficient energy source.

“Working with GE on the 400 MW power plant project will make our work much easier as we will have access to proven technology and technical advice crucial to the accelerated completion of this project,” said Mr. Brindle.