Dominovas Energy Corp. (DNRG) Executes New PPA, Forges Ahead with Plans to Revolutionize Electricity Delivery in Africa
Dominovas Energy, an energy-solutions company headquartered in Atlanta, today announced the “historic execution” of a guaranteed 200MW multi-year Power Provider Agreement (PPA) to provide electricity to the South Kivu Province, in the Democratic Republic of the Congo, via Dominovas Energy’s proprietary RUBICON™ Solid Oxide Fuel Cell system.
Dominovas Energy’s mission is to electrify the world; the company says it is on pace to deliver an unprecedented number of MWs of fuel cell generated electricity to the continent as it works to deploy a technology that will revolutionize the way electricity is delivered in Africa.
What makes today’s announcement “historic” is that the deal represents the equivalent of 20% of all the fuel cells that have been delivered in the last 20 years.
“There is a very calculated approach to the methodology of Dominovas Energy. It was critical to make certain we had venerable OEM partners that have the supply chain and manufacturing bandwidth to allow us to execute large scale orders and deliver as promised,” Michael Watkins, COO and president Dominovas Energy’s Fuel Cell Division, stated in the news release.
The city of Bukavu, the capital of South Kivu, has experienced incredible urban growth since colonial times; Sadiki et al. (2010) reported about 620,000 inhabitants for 2008 while other areas of the Province now have population centers exceeding 1 million citizens. South Kivu is known for its agriculture potential, as well as its vast hydrocarbon reserves under the lake with the same name.
Today’s news follows the company’s announcement just a few weeks ago of its 3MW PPA with the SOMICO SARL mines, also in the Democratic Republic of the Congo, and its 3MW PPA to electrify the City of David in the country.
The physical deployment of the RUBICON™ in the Democratic Republic of Congo is expected to begin in the fourth quarter of 2016 while the 200MW deployment will not begin until in the first quarter of 2017.
The 200 MW installation is a continuation of what is the largest single deployment of fuel cell technology on the continent of Africa, representing a paradigm shift in the DRC’s approach to addressing concerns regarding harmful carbon emissions, and to reducing the ever-expanding equipment maintenance and inefficiencies that are associated with increased costs, as are endemic with power generation from diesel generators, combined-cycle gas-fired turbine (CCGT) power plants, and other combustion-centric technologies.
Emilio De Jesus, president of Dominovas Energy’s Africa Division, expressed, “I cannot begin to express my gratitude to the leadership of the Democratic Republic of the Congo for the acceptance of our technology and their trust in our ability to deliver 21st century technology and solutions for their Country. This 200MW multi-year deployment will address immediate electricity needs of a Province that is on a fast track for economic growth. It will serve as a model for large scale RUBICON™ deployments across Africa and beyond.”
The RUBICON™ is expected to produce over 25.5 million kWh of clean, efficient, and reliable electricity every year. The 200MW PPA will yield more than US$1 billion in “guaranteed revenue” to Dominovas Energy over the multi-year term PPA.
Watkins added, “We have worked diligently to put ourselves in this position to be able to qualify for acceptance in the Power Africa Initiative, which provides us direct partner access to finance partners that share in the mission to provide power to Africa. Today, our sales cycle is maturing, our OEM partners are committed and in place, and our revenue and financing model is being received with favor. As a result, our pipeline of projects is creating the type of production scale that will promote efficient and cost-effective manufacturing. Equally exciting is that our manufacturing will further stimulate job creation and expansion domestically, as the RUBICON™ is manufactured and supported by a robust supply-chain in the U.S.”
For more information, visit www.dominovasenergy.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
Dominovas Energy, an energy-solutions company headquartered in Atlanta, today announced the “historic execution” of a guaranteed 200MW multi-year Power Provider Agreement (PPA) to provide electricity to the South Kivu Province, in the Democratic Republic of the Congo, via Dominovas Energy’s proprietary RUBICON™ Solid Oxide Fuel Cell system.
Dominovas Energy’s mission is to electrify the world; the company says it is on pace to deliver an unprecedented number of MWs of fuel cell generated electricity to the continent as it works to deploy a technology that will revolutionize the way electricity is delivered in Africa.
What makes today’s announcement “historic” is that the deal represents the equivalent of 20% of all the fuel cells that have been delivered in the last 20 years.
“There is a very calculated approach to the methodology of Dominovas Energy. It was critical to make certain we had venerable OEM partners that have the supply chain and manufacturing bandwidth to allow us to execute large scale orders and deliver as promised,” Michael Watkins, COO and president Dominovas Energy’s Fuel Cell Division, stated in the news release.
The city of Bukavu, the capital of South Kivu, has experienced incredible urban growth since colonial times; Sadiki et al. (2010) reported about 620,000 inhabitants for 2008 while other areas of the Province now have population centers exceeding 1 million citizens. South Kivu is known for its agriculture potential, as well as its vast hydrocarbon reserves under the lake with the same name.
Today’s news follows the company’s announcement just a few weeks ago of its 3MW PPA with the SOMICO SARL mines, also in the Democratic Republic of the Congo, and its 3MW PPA to electrify the City of David in the country.
The physical deployment of the RUBICON™ in the Democratic Republic of Congo is expected to begin in the fourth quarter of 2016 while the 200MW deployment will not begin until in the first quarter of 2017.
The 200 MW installation is a continuation of what is the largest single deployment of fuel cell technology on the continent of Africa, representing a paradigm shift in the DRC’s approach to addressing concerns regarding harmful carbon emissions, and to reducing the ever-expanding equipment maintenance and inefficiencies that are associated with increased costs, as are endemic with power generation from diesel generators, combined-cycle gas-fired turbine (CCGT) power plants, and other combustion-centric technologies.
Emilio De Jesus, president of Dominovas Energy’s Africa Division, expressed, “I cannot begin to express my gratitude to the leadership of the Democratic Republic of the Congo for the acceptance of our technology and their trust in our ability to deliver 21st century technology and solutions for their Country. This 200MW multi-year deployment will address immediate electricity needs of a Province that is on a fast track for economic growth. It will serve as a model for large scale RUBICON™ deployments across Africa and beyond.”
The RUBICON™ is expected to produce over 25.5 million kWh of clean, efficient, and reliable electricity every year. The 200MW PPA will yield more than US$1 billion in “guaranteed revenue” to Dominovas Energy over the multi-year term PPA.
Watkins added, “We have worked diligently to put ourselves in this position to be able to qualify for acceptance in the Power Africa Initiative, which provides us direct partner access to finance partners that share in the mission to provide power to Africa. Today, our sales cycle is maturing, our OEM partners are committed and in place, and our revenue and financing model is being received with favor. As a result, our pipeline of projects is creating the type of production scale that will promote efficient and cost-effective manufacturing. Equally exciting is that our manufacturing will further stimulate job creation and expansion domestically, as the RUBICON™ is manufactured and supported by a robust supply-chain in the U.S.”
For more information, visit www.dominovasenergy.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
