Rift Valley Hydro Projects
Empower Energy's Rift Valley Projects are located in the Mbulu and Babati Districts, Manyara Region in the north of Tanzania. Taking advantage of the Rift Valley's steep escarpments, the Projects are characterized by high water head (change in elevation) which allows for high generation capacity while using relatively small river flow.
The Projects are all located within 40 kilometres of the town of Mbulu and will be developed, constructed and operated as a group to capture economies of scale and reduce costs.There are several high voltage transmission lines running near the sites and the national grid is being extended to reach most villages.
The Project Company has executed an agreement with an engineering and financial consortium which is preparing a proposal to construct the Projects. The consortium will acquire a minimum 51% equity interest in the Projects if the proposal is accepted.
Project in Brief
Project Company: Power Matrix Corporation Limited
Project: 4 run-of-river hydro projects with a total estimated capacity of 17MW
Location: Manyara Region Tanzania
Generation: 72,000,000 kWh / annum
Total Investment: US$ 46 million
Start of Construction: January 2021 (1st project)
Planned Completion: December 2023 (4th project)
The Project Company will sell its generation to the Tanzanian Electric Supply Company (TANESCO) under a 25-year SPPA's with a tariff set in US$.
Feasibility Study (Project 1)
Pre-feasibility Study (Projects 2,3,4)
Land Title (99-year lease) (Project 1)
Letter of Intent for PPA (Project 1)
Feasibility Study (Project 2,3,4)
Land Title (Project 2,3,4)
ESIA (IFC/EIB Standards)
Start of Construction
Commercial Operation (1st Project)
Commercial Operation (4th Project)
Expected equity required is $US 14 million of which a minimum of 51% is currently under offer, therefore up to $7 million of equity could be available.
The Project is a very attractive investment due to the potential cost savings of developing and constructing the together and it will provide a healthy rate of return to equity investors.