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Dominovas Building Hydro in Angola
Sunday May 7, 2017  Printer Friendly Email this article


Dominovas Energy Corp. entered into a deal to finance, build and operate an 18-MW hydropower plant in north-western Angola. The deal follows the company securing exclusive rights for the project from the country’s government.

The project will be an ORCAS (Ocean River Current Access Solutions) installation which will utilize the most advanced, eco-friendly and effective hydro technologies available for sustainable power generation, said the company. The system enables on- and off-grid clean energy flexibility for the generation of electricity from river-based power generating systems.

Next steps will include the completion of appropriate bankable feasibility studies, the negotiation of all off-take agreement terms and conditions, which will be supported by the requisite government guarantees and will cover Dominovas’ investment in the power plant and attendant infrastructure.

The project will represent an estimated $90 million investment to Angola’s energy sector, the company said in a statement.

The project will be funded by Dominovas’ financing partner, Graecrest Energy Solutions and its partners, under a $1.2-billion financing agreement announced in October 2015. Further, the project construct is set by the Angola-mandated “FBOOT” program, which refers to a “Finance, Build, Own, Operate, and Transfer” model.



 
   
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