LONDON (SHARECAST) - Aggreko, the Scottish company that is a global player in the temporary power market, has bagged a new contract with the Tanzania Electric Supply Company (TANESCO). Aggreko is to provide two 50 megawatt (mw) diesel-powered plants at Ubungo and Tegeta for a 12-month period, and will also manage the fuel supply associated with the power generation. The pass-through fuel contract is similar to that currently operated by Aggreko in Uganda and in previous years in Sri Lanka.
The estimated value of the power contract is $37m, The value of the fuel contract will depend on the monthly price of diesel, and the amount of power generated; Aggreko will charge a small fee for managing the fuel supply.
Tanzania, which generates much of its electricity through hydro-electric facilities, is currently experiencing a prolonged drought, resulting in a significant decline in the amount of power being generated.
The addition of 100 MW of power will help stabilise the Tanzanian power supply and reduce load-shedding, and thereby support continued economic growth while TANESCO works to implement long-term solutions to improve power generation and distribution.
Rupert Soames, Chief Executive of Aggreko, said: "Having successfully delivered 40MW of emergency power between 2006 and 2008, we are delighted that, following a competitive tender process, we have once again been selected to be of service to Tanzania."
The award of this contract will take Aggreko's order intake in the first six months of 2011 to at least 630MW.
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