Kastan Mining PLC (“Kastan”) joins consortium to develop renewable energy projects in Tanzania
DAR ES SALAAM, Tanzania - May 26, 2014 - PRLog -- Kastan announced today that the Company has entered into a consortium with Continental Energy Corporation (“Continental”)
John Tate, Kastan CEO, remarked, “We believe we have assembled a group that is uniquely positioned to build a business model that has enormous upside potential in delivering energy solutions to customers in underserved rural markets. Our first project as Ruaha Power will include a series of Run-of-River hydropower facilities and a network of 5 to 10MW solar PV farms that are expected to power an industrial park that Kastan is developing in the Morogoro region and to electrify 15 villages, bringing power for the first time to about 40,000 rural villagers in the project area.”
Richard McAdoo, Continental’
Ibrahim Nzowah, KEPOCO, CEO also noted, “We are excited about the opportunity to work with our partner companies. Since our team first identified the proposed hydropower locations we have been convinced that a strategic partnership would accelerate development. The villagers in the target area have been very supportive and are encouraging us to begin as soon as possible. Many challenges remain ahead of us as we launch this initiative, however, we are convinced that the success we achieve with this first project will serve as a template that we can replicate in many other rural Tanzanian locations.”
About Kastan - www.kastanmining.com
Headquartered in Dar es Salaam, Tanzania, Kastan Mining PLC is a copper mining, exploration, and processing company with several initiatives underway at various stages of development ranging from early exploration to full production.
About Continental Energy Corporation - www.continentalenergy.com
Continental is an emerging international energy investment company headquartered in Jakarta, Indonesia with operations in Southeast Asia and Norway.
About Pan African Management and Development Company, Inc - www.panafra.com
Panafra is an Delaware based Company with equity investments in the mineral, construction, and power sectors in Tanzania.
About Kitonga Power Electric Company Limited
KEPOCO is a Dar es Salaam based energy company.
This press release contains statements which constitute forward-looking statements within the meaning of the US securities laws. and may be (but are not necessarily)
Page Updated Last on: May 26, 2014