Sector Spotlight: Renewable Energy Powering The Fu
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Posted On: 08/04/2023 10:00:06 AM
Sector Spotlight: Renewable Energy Powering The Future – ASRE, SUNW, REI, GEVO
https://www.benzinga.com/pressreleases/23/08/...w-rei-gevo
Astra Energy Inc.
ASRE
stands out as a high-return alternative energy company as it invests and develops renewable and clean energy projects in markets where demand is high, and supply is low. The company stands out for its ability to secure crucial technologies and assets while identifying valuable market opportunities amid the trillion-dollar renewable energy opportunity.
Driven by its goal of creating a more secure and sustainable power sector, Astra has set out to tap the strong demand for renewable energy in Zanzibar. On June 20, 2023, the company presented a feasibility report and all the relevant documentation to secure 207 acres of land for a 33-year renewable lease in Zanzibar.
The presentation marks the initial step in the company's bid to offer clean and renewable energy to the people of Zanzibar. In return, the company is to secure a long-term sustainable revenue base that should deliver value to shareholders.
Tony Thompson, Astra’s VP of Electrical Power Generation, stated, “This project will generate green, long-term, sustainable revenue for the Company and deliver value to shareholders, while creating value for the residents of Zanzibar by providing a stable source of clean and renewable energy on the island.”
The feasibility report presented to the president of Zanzibar, H.E. Hussein Mwinyi, is for the company's Zanzibar Clean and Renewable Energy project. Astra has already stipulated plans to own and operate the project to generate renewable energy and sell it to ZECO, the country's state-owned utility. The proposed project on Unguja Island is to generate 50 MW of clean and renewable energy.
Astra is to use 199 acres of the allocated piece of land in the Kibele District to construct a solar PV plant. There are plans to install a battery storage system at the solar PV plant to help stabilize power and reduce the island's reliance on the 100 MW submarine cable from mainland Tanzania. The company also intends to deploy a Holcomb Energy system to amplify the plant's output.
The additional 8 acres adjacent to the solar park are for constructing a waste-to-energy facility. Its long-term goal is to foster the economic, environmental, and social landscape. The company intends to process up to 300 tons of solid waste from the Kibele landfill to generate energy.
Astra is increasingly tapping into emerging opportunities as the Tanzanian government looks to modernize its critical infrastructure in the energy sector. The race to increase installed generation capacity to support a more industrialized country is unlocking new opportunities that the company is taking advantage of.
Consequently, the company reached an agreement with the Tanzania Electric Supply Company on June 22, 2023, to develop a 350-megawatt combined cycle power plant in Mainland Tanzania. Astra will construct and operate the 350 MW project as an independent power producer, selling power to TANESCO.
“The Tanzanian government is actively working to modernize their critical infrastructure and has plans to increase installed generation capacity to support more industry in the country,” states Tony Thompson, VP of Electrical Power Generation for Astra Energy Tanzania Limited.
The renewable projects in Zanzibar and Mainland Tanzania have the potential to generate significant recurring revenues for the company for many years. Over the next 25 years, Astra could generate between $180 and $200 million in revenues from the two projects.
https://www.benzinga.com/pressreleases/23/08/...w-rei-gevo
Astra Energy Inc.
ASRE
stands out as a high-return alternative energy company as it invests and develops renewable and clean energy projects in markets where demand is high, and supply is low. The company stands out for its ability to secure crucial technologies and assets while identifying valuable market opportunities amid the trillion-dollar renewable energy opportunity.
Driven by its goal of creating a more secure and sustainable power sector, Astra has set out to tap the strong demand for renewable energy in Zanzibar. On June 20, 2023, the company presented a feasibility report and all the relevant documentation to secure 207 acres of land for a 33-year renewable lease in Zanzibar.
The presentation marks the initial step in the company's bid to offer clean and renewable energy to the people of Zanzibar. In return, the company is to secure a long-term sustainable revenue base that should deliver value to shareholders.
Tony Thompson, Astra’s VP of Electrical Power Generation, stated, “This project will generate green, long-term, sustainable revenue for the Company and deliver value to shareholders, while creating value for the residents of Zanzibar by providing a stable source of clean and renewable energy on the island.”
The feasibility report presented to the president of Zanzibar, H.E. Hussein Mwinyi, is for the company's Zanzibar Clean and Renewable Energy project. Astra has already stipulated plans to own and operate the project to generate renewable energy and sell it to ZECO, the country's state-owned utility. The proposed project on Unguja Island is to generate 50 MW of clean and renewable energy.
Astra is to use 199 acres of the allocated piece of land in the Kibele District to construct a solar PV plant. There are plans to install a battery storage system at the solar PV plant to help stabilize power and reduce the island's reliance on the 100 MW submarine cable from mainland Tanzania. The company also intends to deploy a Holcomb Energy system to amplify the plant's output.
The additional 8 acres adjacent to the solar park are for constructing a waste-to-energy facility. Its long-term goal is to foster the economic, environmental, and social landscape. The company intends to process up to 300 tons of solid waste from the Kibele landfill to generate energy.
Astra is increasingly tapping into emerging opportunities as the Tanzanian government looks to modernize its critical infrastructure in the energy sector. The race to increase installed generation capacity to support a more industrialized country is unlocking new opportunities that the company is taking advantage of.
Consequently, the company reached an agreement with the Tanzania Electric Supply Company on June 22, 2023, to develop a 350-megawatt combined cycle power plant in Mainland Tanzania. Astra will construct and operate the 350 MW project as an independent power producer, selling power to TANESCO.
“The Tanzanian government is actively working to modernize their critical infrastructure and has plans to increase installed generation capacity to support more industry in the country,” states Tony Thompson, VP of Electrical Power Generation for Astra Energy Tanzania Limited.
The renewable projects in Zanzibar and Mainland Tanzania have the potential to generate significant recurring revenues for the company for many years. Over the next 25 years, Astra could generate between $180 and $200 million in revenues from the two projects.
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