African International Energy PLC

EANS-News: African International Energy PLC: AIE Increases Traction in Africa with Two Hydropower Concessions in Ghana

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Licensing Agreements/Strategic management decisions/Energy


Surrey (euro adhoc) - 07 December 2011. After extensive negotiations with
Ghana´s Ministry of Energy, AIE (African International Energy PLC) has been
granted two hydropower field concessions on the Ankobra River, in the Western
Region of Ghana, to help relieve an ever-mounting energy crisis in, what is now,
the fastest growing economy in the world - with growth of 14% in 2011 alone.
AIE is an international energy player listed on the Frankfurt Stock Exchange and
is set to become the largest independent energy producer in Africa. The company
has already tied up large gas fields along the Western Coast of South Africa to
produce electricity from gas. The company has also made major inroads into
Nigeria and more recently, Ghana - thereby increasing its traction to provide
clean and renewable energy to Africa, a continent that is steering towards a
massive electricity crisis.
The two hydropower plants proposed by AIE in Ghana will produce 50MW and 90MW
respectively - a total output of 140MW. These plants will be developed at a cost
of approximately $160 million. 

AIE is proposing to use Run-of-the-River (ROR) technology for its Ankobra River
project, which is more environmentally friendly than traditional hydro-electric
plants as it does not require a large impoundment of water - which invariably
involves the flooding of large tracts of land, and possible displacement of the
population. 

It is the Ghanaian government´s policy to include renewable energy in the
electricity generation mix, and AIE´s proposed Run-of-the-River hydro-electric
plant technology is therefore consistent with this stance. The country´s
Renewable Energy Bill, which has a feed-in-tariff component to ensure return on
investment for independent power providers, is currently in the advanced stages
of being passed into Ghanaian law. AIE expects a minimum of 15% return on the
project from supply agreements in place to connect to the existing electricity
grid.

As a company, AIE is focused on the under-serviced energy industry market in
Africa - a rapidly developing continent whose energy demands are increasing
exponentially. Project development is targeted within African economies that
have a good supply of clean and renewable energy resources, as well as familiar
and favourable independent power producer legislation. Ghana - as the world´s
fastest growing economy, and one of the continent´s more robust democracies - is
a perfect fit for AIE, according to CEO, Aldworth Mbalati.

Africa's rapid economic growth (much of it backed by massive investment from
China) is under threat from a deepening energy crisis as governments struggle to
expand an ageing energy infrastructure and build a power generation foundation
for future business and industrial manufacturing. With mounting pressure on
countries to reduce carbon emissions in line with global targets, there is a
rush to find sustainable, clean and renewable energy. AIE is actively
positioning itself to be the central player in this field by working with local
governments as an independent power producer focused on clean energy generation
and solutions. Current AIE projects include natural gas development, hydropower
generation and underground coal gasification, with renewable resources such as
wind and solar powered projects also on the radar.


Further inquiry note:
For more information visit http://www.aie-plc.com or contact Aldworth Mbalati:
+27 82 645 3376

end of announcement                               euro adhoc 
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company:     African International Energy PLC
             Portsmouth Road 
             UK-KT109 AD Surrey
phone:       +44 1372 465 330
mail:     oldworth@aie-plc.com
WWW:      http://www.aie-pic.com
sector:      Energy
ISIN:        GB00B5VS7Q20
indexes:     
stockmarkets: Open Market: Frankfurt 
language:   English
 



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