Latest news with #PaulHinks
Business Insider
08-08-2025
- Business
- Business Insider
Congo peace may open door for $700 million power deal with U.S. firm
US firm Symbion Power LLC plans to build a 140-megawatt gas-to-power plant and transmission lines along the Democratic Republic of Congo–Rwanda border. Symbion Power LLC plans to build a 140 MW gas-to-power plant along the DR Congo-Rwanda border linked to a peace agreement. The $700 million investment aims to convert methane from Lake Kivu into electricity on the Congolese side. The development depends on ending regional conflicts and ensuring security, especially in areas controlled by M23 rebels. US firm Symbion Power LLC plans to build a 140-megawatt gas-to-power plant and transmission lines along the Democratic Republic of Congo–Rwanda border, contingent on the implementation of a recent US-backed peace deal between the two countries. The New York-based company said it would invest $700 million to convert methane from Lake Kivu into electricity on the Congolese side, in line with an economic integration agreement signed by both nations, according to Bloomberg. Symbion had previously planned a smaller plant on the lake, but conflict in the region stalled development. Much of eastern Congo, including the trading hub of Goma, the project's biggest potential beneficiary, is currently controlled by Rwanda-backed M23 rebels. Development would require the group's withdrawal from Goma, North Kivu, and Ituri, as well as improved security, Symbion Chief Executive Officer Paul Hinks told Bloomberg. The peace process gained momentum after Congo and M23 signed a 'declaration of principles' on July 19, though the rebels have yet to pull back. Broader regional energy push Symbion is also pursuing a $1.5 billion power line from Angola to Congo's copper and cobalt mining belt through its Hydro-Link subsidiary, as well as multiple small hydropower projects via its MyHydro unit. The company previously developed two similar gas-to-power plants on the Rwandan side of Lake Kivu, which were sold in 2019. The planned plant and power lines would take roughly 30 months to complete.
Business Insider
06-07-2025
- Business
- Business Insider
U.S. firm to build $1.5B power line linking Angola, DRC
U.S.-based energy company HYDRO-LINK has announced plans to construct a 1,150-kilometre electricity transmission line connecting Angola and the Democratic Republic of the Congo (DRC), in a step toward regional energy integration. HYDRO-LINK announced plans to construct a 1,150 km electricity transmission line between Angola and the DRC. The $1.5 billion project aims to alleviate power shortages in the DRC's Copperbelt mining region. The project is expected to be completed by 2029, also creating regional industrial and employment opportunities. The project, valued at $1.5 billion, addresses persistent power shortages in the DRC's southeastern Copperbelt region, which hosts critical mineral mines. With Angola enjoying a surplus of energy at its hydropower sites, the line will connect those sites to the DRC's energy-hungry mining areas. According to HYDRO-LINK, the transmission line is scheduled for completion by 2029. While it is primarily designed to power mining operations, the line will also connect to load centres in both Angola and the DRC, supplying much-needed electricity for public use. 'The transmission line will promote regional energy integration, provide energy security to the DRC, support the development of industrial hubs for local manufacturing and mineral processing, and create thousands of local construction jobs,' said Paul Hinks, CEO and Chairman of HYDRO-LINK. The project has taken a major step forward with the signing of a Memorandum of Understanding (MoU) with the Government of Angola. HYDRO-LINK also signed an MoU with the Swiss-based Mitrelli Group, which joins as a major investor and partner, and another with U.S.-based Sargent & Lundy, which will provide engineering services for the project. All three agreements were signed in Luanda during the U.S.-Africa Business Summit. According to HYDRO-LINK, the project will serve African and American strategic interests. Other strategic project partners HYDRO-LINK signed a memorandum of understanding with the Swiss-based Mitrelli Group, which has decades of operational experience in Angola and joins the project as a major investor and partner. Additionally, the company formalized an agreement with Sargent & Lundy, a U.S.-based architecture, engineering, and design firm, which will provide engineering services for the transmission line.
