Globeleq’s Tanzania plant increases capacity

HOUSTON , 8 June 2005 – Globeleq announced the completion of the 50% expansion at its Ubungo power station in Dar es Salaam. The facility now generates a total of 180 megawatts ( MW) and supplies 35% of the country’s energy requirements.

The 65 MW expansion was completed less than one year after the Ubungo power plant began generating using natural gas on completion of the Songas project in July 2004 . Songas delivers natural gas to Dar es Salaam via a 225 kilometer (140 mile) pipeline from the gas processing plant on SongoSongoIsland.

The Tanzania Electric Supply Company (TANESCO) supported the expansion to further reduce Tanzania’s dependence on hydroelectric power and expensive liquid fuel generation. Rudy Huysen, Managing Director of TANESCO said: “Songas provides an essential part of our generation plan. We are very pleased to have this additional capacity available to provide more reliable supply to our customers. ”

Adding to his comments, Paul Kunert, Globeleq Vice President for East Africa and Managing Director of Songas said: “This is a significant achievement for Songas. In a relatively short period, this extra generation was added to the existing facility to provide much needed supply. Globeleq continues to lead the development of the power sector in the emerging markets by generating clean, more reliable power to the countries in which we operate.”

With investments of over US$550 million, Globeleq is the only operating power company solely focused on the emerging markets of Africa, the Americas, and Asia. Since 2002 the company has acquired more than 2,200 MW of generation capacity, reaching a total of 3,000 net equity MW in 21 projects in 16 countries. Globeleq is actively pursuing acquisitions and new project development.