U.S. Company Symbion Power Acquires 120 MW Power Plant

By Symbion Power, PRNE
Sunday, May 22, 2011

DAR ES SALAAM, Tanzania, May 23, 2011 -

Responding to recent press reports, Washington based power company
Symbion Power has confirmed that they have indeed signed an agreement to
acquire a 120 MW power plant in Tanzania.

Alongside current options for the equipment internationally, Symbion
intends to submit a bid proposal to Tanzania Electric Supply Company Limited
(TANESCO). The plant has recently been tested by independent engineers and
has been confirmed to be in excellent running order and able to produce power
at short notice.

Symbion has joined forces with ProEnergy Services, a U.S. based
multi-national integrated service provider to the energy sector, who operate
and maintain power plants on a global basis. ProEnergy Services has extensive
aero-derivative gas turbine operation and maintenance experience, and will
act as Symbion's Technical Services Partner.

In Tanzania, Symbion Power already has extensive electrification
contracts that are funded by the U.S. Government through the Millennium
Challenge Corporation, as well as the Tanzanian Rural Electrification Agency
and TANESCO. Symbion's work encompasses the construction of 3000km of
overhead power lines and 26 substations across 8 regions in Tanzania and

Paul Hinks, Chief Executive Officer, Symbion Power said, "the
negotiations with the former owner have been challenging and, as a
consequence of past reports, we have undertaken extensive due diligence. This
due diligence also encompassed the thorough examination and testing of the
equipment to ensure that it is in excellent condition. The results have been
positive; the plant has been very well maintained."

Hinks went on to say, "it gives me great pleasure to be able to move to
the next phase which is to offer electricity to TANESCO and to the people of
Tanzania at a time when load shedding and disruption to consumers is
worsening. The 120 MW that this plant can deliver would have a significant
impact on the power situation in Tanzania." Hinks continued, "We want to keep
the plant in Tanzania, but if TANESCO does not wish to utilize our services,
we have other opportunities for its use overseas. This is a mobile plant that
can be moved easily.

Chairman, Symbion Power Africa, Ambassador (ret.) Joseph Wilson said,
"the Symbion Ubungo power plant has been sitting idle for almost three years
while this country has faced and continues to face extraordinary challenges
as a result of a shortage of power generation capacity. On behalf of the
Board of Directors of Symbion Power and all our staff in Tanzania and
elsewhere, I am proud to say that the plant can now be revived and I am
hopeful that the Government of Tanzania will be interested in engaging our

Symbion Power is an American company that specializes in developing
complex turnkey electric power infrastructure systems, including transmission
lines, substations and switchyards and thermal power plants, in regions of
the world where conflict and instability are major impediments to progress.
The company is headquartered in Washington, D.C., and has offices in several
other countries www.symbion-power.com.

Julie Foster, Symbion Power, Local: +076-733-3583, U.S. +1-917-282-9310, julie.foster at symbion-power.com

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