Tanzania: Egbin Power Plc Plans $630M Offshore Power Plant

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Nigeria’s Egbin Power Plc, is considering a massive offshore power investment, as it is close at constructing a 900 Mega Watts power plant in Tanzania.
The planned natural gas-fired power plant is estimated to cost about $630 million.
The Chief Executive Officer of Egbin Power Plc, Dallas Peavey, stated this while on a five –day tour in Tanzania last week said that the construction of the plant is expected to start shortly as the investment agreement with the Tanzanian government has been signed, according to Tanzania Daily News.
Peavey said, “We plan to set-up two plants, each generating 450MW…all we are awaiting for now is government approval and TANECO’s (Tanzania Electric Supply Company) proposal.”
The key pending issues so far include the plant specifications and the specific location to build the plant.

The management of Egbin Power Plc has already visited Dar es Salaam six times, to hold talks with senior government officials, including the prime minister, Kassim Majaliwa.
According to Peavey, if the investment is approved it will take 12 months to complete the first phase.
He said “We are interested in power generation. We have the expertise and experience from our operations in the United States of America, Argentina, Africa and Europe.”
However, Egbin power firm said funds are available for the Dar es Salaam project, which is anticipated to cost $630 million.
According to the media, Peavey disclosed that Egin Power had also appointed Engineering, Procurement and Construction (EPC) company to execute the project.
Egbin Power Plc, a subsidiary plant of the Nigerian based Sahara Group, runs a 1,320MW natural gas-fired independent power plant.

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