WK Construction has signed a strategic partnership agreement with Tembo Power to assist with the development of the 7.5MW Dama and 12MW Siguvyaye hydropower plants in Burundi. WK Construction will assist Tembo Power to confirm the technical and financial viability of the projects, worth a combined $50m.
The agreement will also see WK Construction become the preferred engineering, procurement and construction contractor and its investment arm, WK Power, join as a minority equity holder. It builds on an existing partnership between the two companies which saw WK Construction assist Tembo Power with the 15MW Kaptis hydropower project in Kenya, which is expected to reach financial close later this year.
“We are delighted to pursue our partnership with WK Construction into Burundi, as this will allow us to leverage the experience gained together in Kenya and fast-track the detailed studies development phase prior to financial closing. WK Construction is also a leading pipeline contractor, which makes it an ideal partner for the Burundian projects, which consist in high heads and low-rated flow”, Tembo Power founder Raphael Khalifa said.
The projects are currently in the permitting phase and financial close is currently scheduled for Q3 2021. Feasibility studies were conducted by South Africa’s Aurecon. Law firm Trinity LLP is advising Tembo Power on financing.
Tembo Power is working to raise equity for ten projects in Kenya, Burundi and the Democratic Republic of Congo with total capacity of 184MW. The company is focussed on run-of-river projects in the 10-50MW range.
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