Renewable Energy Grant in Africa ( Solar Thermal Magazine)
Continental Energy Corporation (OTCQB:CPPXF), an emerging international energy investment company, today announced that its Tanzanian subsidiary, Ruaha River Power Company Ltd. (Ruaha Power), has been appointed manager of a US$ 95,000 grant from the Rural Energy Agency (REA) of Tanzania.
The grant is made under the Tanzania Energy Development Access (TEDAP) program with funds provided by the World Bank and the Global Environmental Fund. The proceeds of the grant are to be used to conduct a site specific technical and environmental study for a Ruaha Power proposed two megawatt hybrid renewable energy generation and distribution network, or “Mini-Grid”, incorporating a mix of run-of-river hydropower, solar photovoltaic, and biomass gasifier technologies. The study area is in the Iringa and Dodoma regions of central Tanzania and is near the 300 kilowatt Malolo Mini-Grid, an existing hybrid biomass-diesel-solar power project, already under development by Ruaha Power.
The grant agreement was signed in Dar es Salaam by REA’s director of technical services, Mr. Bengiel H. Msofe and by Mr. John Tateon behalf of Kastan Mining Ltd., a founding shareholder of Ruaha Power. In addition to being a director of the Company, and a director and CFO of Ruaha Power, Mr. Tate is also the CEO of Kastan. Kastan has assigned responsibility to Ruaha Power to manage the grant and the study. Ruaha Power shall develop and operate the Mini-Grid that results from it.
Company director John Tate, said after the signing; “We are proud to be associated with REA, the World Bank, and the Global Environmental Fund in helping bring reliable, renewable energy to customers in underserved rural markets in Tanzania. We have identified a promising hybrid Mini-Grid development opportunity in the study area. It has a sizeable nearby market with an ever increasing electricity demand. The TEDAP grant is the first step towards Ruaha Power’s goal of realizing a commercial Mini-Grid development there.”
The Company’s CEO, Richard L. McAdoo commented;
This grant represents an important milestone as we transition the Company from being a traditional energy explorer to being a renewable and alternative energy developer. Our many years of experience in operating complex projects in developing countries around the Indian Ocean Rim has become an important advantage. We have a rapidly building set of renewable energy development projects in the pipeline both in East Africa and SE Asia and look forward to substantial forward progress in 2015.