Sept 2018

Sept 2018

Dec 2018

March 2019

June 2019

July 2019

July 2021

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$.

Milestones

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)

SPPA Execution

ESIA (IFC/EIB Standards)

Financial Close

Start of Construction

Commercial Operation​ (1st Project)

Commercial Operation​ (4th Project)

Achieved

Achieved

Achieved

Applied

March 2019

June 2019

April 2020

July 2020

December 2020

January 2021

July 2022

January 2024

Investment Requirement

  • 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.

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