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CAO Camco Intl

3.625
0.00 (0.00%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Camco Intl CAO London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 3.625 01:00:00
Open Price Low Price High Price Close Price Previous Close
3.625 3.625
more quote information »

Camco International CAO Dividends History

No dividends issued between 28 Apr 2014 and 28 Apr 2024

Top Dividend Posts

Top Posts
Posted at 07/12/2012 10:17 by christianf12
CAO changed ticker to CCE
Posted at 12/9/2012 07:56 by 27howard
Well the last set of results or trading update saw the same excitement and the price finished down, for some reason people do not get excited about Cao, I see
initial buying then a sell off as normal.
Posted at 12/9/2012 07:50 by 27howard
Not often you see a 50% mark up on results, I thought there has been a bid this morning, this kind of rise has been waiting for a long time with CAO !
Posted at 12/9/2012 07:24 by howdlep
Share price 4.25p, Nett cash per share is 8.1p, inclusive of 3.1p of nett cash held within Camco South East Asia:-


Camco International Ltd Interim Results

TIDMCAO

RNS Number : 0466M

Camco International Ltd

12 September 2012

12 September 2012

Camco International Limited

("Camco" or the "Company")

Interim Results 2012

Camco International Limited (AIM: CAO), a global developer of clean energy projects and solutions to reduce emissions today announces its results for the six months to 30 June 2012.

Scott McGregor, CEO of Camco said:

"Camco's business has developed well during the year, returning to profit and generating cash.

"In H1 we continued to deliver on our strategy of developing and owning clean energy assets with success in North America and Asia. With proven project development expertise built up over 20 years, Camco is well positioned to deliver on our strategic goal of becoming a leading developer and owner of clean energy projects."

"Clean energy projects will provide the Company with stable revenue streams from power production complementing our existing carbon business which we have successfully restructured to deliver returns even in a low carbon price environment and combined create long-term shareholder value."

FINANCIAL HIGHLIGHTS for the period ending 30 June 2012

-- Adjusted net cash(1) of EUR11.7 million increased from year end representing 5.0 pence per share (31 Dec 2011: EUR8.0 million; 30 June 2011: EUR14.9 million)
-- Additional 3.1 pence per share of net cash(2) within Camco South East Asia

H1 2012 FY 2011 H1 2011
EUR'000 EUR'000 EUR'000
Revenue earned in the period
(excluding carbon price fair
value adjustment) 12.2 10.2 7.1
Carbon price fair value adjustment (2.1) (21.7) 5.2
-------- -------- --------
Revenue (including carbon price
fair value adjustment) 10.1 (11.5) 12.3
Gross Profit 7.6 (16.1) 9.1
Administrative expenses (6.5) (13.4) (6.4)
Profit from continuing operations 1.1 (29.6) 2.6

2012 OPERATIONAL HIGHLIGHTS
-- North America
o 4.5 MW clean energy biogas plant operational, completed on time and ahead of budget

o Grant of approximately US $6m from US Treasury received in August 2012
-- South East Asia
o 2 MW biogas plant acquired in August 2012
-- China
o Carbon portfolio of CERs restructured to provide value at any carbon price

o EUR39.4m of discounted future gross cash flows based on the forward price curve as at 30 June 2012
-- Africa
o Awarded US $4.7m contract with project partner Rex to bring solar power to off-grid communities in rural Tanzania, (value to Camco of US $1.1m)
-- UK
o Non-core advisory business sold for an initial consideration of EUR3.8 million

Notes
(1) Adjusted net cash is calculated as follows:

H1 2012 FY 2011 H1 2011
EUR'000 EUR'000 EUR'000
Cash and cash equivalents 16,101 14,369 14,865
Less cash restricted for sole
use in construction of biogas
project in North America (456) (2,231) -
Less unsecured loans (3,904) (3,858) -
Less bank overdraft (discontinued - (232) -
operations)
-------- -------- --------
Adjusted net cash 11,741 8,048 14,865

Adjusted net cash per share (pence) 5.0p 3.6p 6.3p

(2) Net Cash held by Camco South East Asia Limited "CSEA"):

H1 2012 FY 2011 H1 2011
EUR'000 EUR'000 EUR'000
Net cash attributed to Camco 7,310 7,971 8,693

Net cash attributed to Camco
per share (pence) 3.1p 3.5p 3.7p

Adjusted net cash in note (1) above does not include net cash held by Camco South East Asia Limited ("CSEA") which Camco accounts for as a joint venture. Camco currently owns 60.1% of CSEA. The balances in Note 2 above reflect Camco's percentage share of the net cash in CSEA.

(3) H1 2012 refers to the unaudited 6 month period to 30 June 2012 or as at 30 June 2012, FY 2011 refers to the audited 12 month period to 31 December 2011 or as at 31 December 2011, and H1 2011 refers to the unaudited 6 month period to 30 June 2011 or as at 30 June 2011

Enquiries:

+44 (0)20 7121
Camco 6100
Scott McGregor, Chief Executive Officer
Jonathan Marren, Chief Financial Officer

Singer Capital Markets (Camco Nominated +44 (0)20 2305
Adviser and Broker) 7500
James Maxwell

+44 (0) 20 7074
Kreab Gavin Anderson (Investor Relations) 1842
Ken Cronin

+44 (0) 20 7638
Citigate Dewe Rogerson (PR Advisor) 9571
Chris Gardner / Malcolm Robertson

Financial Review for the period to 30 June 2012

Camco has had a successful first half of 2012 finishing with increased adjusted net cash of EUR11.7m compared to EUR8.0m at the beginning of January 2012.

Revenue earned (excluding carbon price fair value adjustment) increased to EUR12.2m compared to EUR7.1m (H1 2011) and EUR10.2m (FY 2011).

The restructuring of the carbon portfolio achieved during the period resulted in the downwards carbon price fair value adjustment for the period of EUR2.1m being lower than it would have been pre-restructure and the board anticipates this effect to continue in future periods as volatility in the carbon price persists.

In total, revenue (including carbon price fair value adjustment) was EUR10.1 million compared to EUR12.3m (H1 2011) and negative EUR11.5m (FY 2011).

Our 4.5 MW clean energy biogas plant in Jerome, Idaho was ramping up during the period and therefore reflect a limited contribution to revenue in H1 2012. That plant is now fully operational and is anticipated to contribute significantly more to the segmental result in the second half.

The carbon business contributed revenue of EUR10.2m excluding the carbon price fair value adjustment (H1 2011: EUR6.4m). Looking ahead to the second half of the year and into 2013, we expect to record more revenue from our 2012-20 carbon portfolio as our projects become operational with a corresponding increase in accrued income in accordance with our accounting policies. As cash is received from carbon contracts as they deliver credits through to 2020, this accrued income balance will reduce. We may also choose to enter into structured forward sales of credits, which will have the effect of converting accrued income into cash at that point.

Carbon operating expenditure was reduced to EUR1.9m (H1 2011: EUR2.7m), which we anticipate reducing further in the second half and beyond.

Overall administrative expenses during the period were EUR6.5m compared to EUR6.4m (H1 2011) and EUR7.0m in the second half of 2011 (EUR13.4m (FY 2011)). We will continue to keep a tight control over costs in order to preserve cash for investment in project development activities.

Profit from continuing operations for the period was EUR1.1m compared to EUR2.6m (HY 2011) and a loss of EUR29.6m (FY 2011).

Cash and cash equivalents increased by EUR1.7m to EUR16.1m with adjusted net cash increasing by EUR3.7m to EUR11.7m at the period end from FY 2011. Adjusted net cash excludes cash restricted for sole use in construction of projects and debt secured against a project which will be amortized over the life of that project. The increase in cash takes account of the sale of the UK advisory business, final amounts spent on the North America clean energy biogas plant and net cash flows from operating activities.

Operational Review

North America

In the US, Camco's 4.5 MW clean energy biogas plant became fully operational during the period. The project was completed on time and ahead of budget. The project also received a grant of approximately US $6m from US Treasury in August 2012, the majority of which will be used to repay a loan which was used to fund part of the construction of the project.

The company will continue to develop its portfolio of biogas projects across North America and looks forward to making further announcements as projects come on-line.

Our US team has continued to develop our agricultural carbon portfolio for use in the California market, which will be the second largest after the EU ETS when it begins in 2013. Camco continues to lead the agricultural biogas sector in the US, with 2.5m tonnes now under management and the largest number of "Livestock Gas Capture/Combustion" projects registered under the Climate Action Reserve (CAR) standard.

South East Asia

The team is now developing a pipeline of projects that will generate clean energy using local regulatory incentives. As part of this strategy the team acquired a 2 MW biogas development project in August 2012 to recover biogas containing methane from palm oil mill effluent. Construction of the project is expected to be completed in early 2013. The team is pursuing further development of biogas and energy efficiency projects.

In H1 we completed 13 carbon project registrations and are aiming to complete registration of the remaining projects in time for the registration deadline at the end of this year.

Camco's South East Asia's net cash balance as at 30 June 2012 (within its joint venture) was EUR7.3m (not included within Group cash balance).

China

Our team in China has been working hard on developing and registering its portfolio of carbon projects in time for the 2012 registration deadline. We are also exploring opportunities to build on our carbon project success and develop new clean energy projects in the region.

Our team has now successfully registered 96 carbon projects and will pursue the registration of the remainder of its projects by the end of 2012. The team has also delivered 17.9m tonnes to 30 June 2012.

Camco's China carbon portfolio of CERs is structured to provide discounted future gross cash flows of EUR39.4m based on the forward price curve as at 30 June 2012 (see below).

Africa

Camco has six offices in Africa pursing clean energy and carbon reduction projects. Recent successes included a contract win in Tanzania, where Camco and Rex were awarded US $4.7m to bring solar power to off-grid communities in rural Tanzania, the contract value to Camco being US $1.1m

Other

As announced at the time of our 2011 results, the restructuring of Camco's carbon portfolio in H1 2012 was a significant event and aligns it with current market conditions.

The following tables outline CER discounted future gross cash flows as at 30 June 2012 (the date of the last review) based on the forward curve at that date. A price sensitivity analysis is also included to show how movements in the forward price curve will impact this value.

CER Carbon Portfolio Discounted Future Gross Cash Flows as at 30 June 2012*

Sensitivity Pre 2012
to carbon Discounted Post 2012 Total Discounted
price Future Discounted Future
CER Carbon Gross Cash Future Gross Gross Cash
price Flows Cash Flows Flows
-------------
EURm EURm EURm
------------- ------------ -----------------
-EUR 2 -0.3 18.9 18.6
----------- ------------ -------------- -----------------
-EUR 1 1.9 26.6 28.5
----------- ------------ -------------- -----------------
30 June
2012 CER
forward
curve 3.8 35.5 39.4
----------- ------------ -------------- -----------------
EUR 1 5.8 42.7 48.4
----------- ------------ -------------- -----------------
EUR 2 7.7 49.7 57.4
----------- ------------ -------------- -----------------
EUR 4 11.5 63.8 75.2
------------- ----------- ------------ -------------- -----------------

* see notes below for assumptions
Forward curve as at 30 June 2012:

Futures Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20
Contract
ECXprice
per CER EUR3.66 EUR3.96 EUR4.18 EUR4.40 EUR4.55 EUR4.63 EUR4.78 EUR4.92 EUR5.15

Since 30 June 2012, the forward curve has reduced and as at 31 August 2012 was as follows:

Futures Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20
Contract
ECXprice
per CER EUR2.80 EUR3.14 EUR3.35 EUR3.46 EUR3.49 EUR3.49 EUR3.56 EUR3.64 EUR3.84

Finally, our non-core UK Advisory business was sold in early 2012 for initial consideration of GBP3.25m (EUR3.8m) to allow the Company to focus on its core markets.

We were also pleased to welcome Jonathan Marren to the role of Chief Financial Officer shortly after the period end.

Outlook

Over the last half year the Company has laid the groundwork to further expand its clean energy business in each of its regions. Clean energy opportunities in North America, Asia and Africa are now the Company's core focus and we anticipate an expansion of our clean energy project portfolio.

In North America, Asia and Africa this utilizes two trends: the growth in regulatory incentives, feed-in tariffs and grants available; and the continuing reduction in clean tech technology costs. Camco is excellently positioned to benefit from these trends in each of its regions. Our technical expertise, project development prowess and established local experts have placed us in the lead in these markets.

Our existing Asian carbon portfolio will deliver value to shareholders as it matures over the coming years. In North America, we hold a leading position in that carbon market. We expect our North American presence to expand as opportunities grow in an active compliance market after initial auctioning of allowances commences later this year. New regional carbon markets in Australia, Africa and China, commencing shortly, will provide Camco with great opportunities to expand its carbon development business alongside its clean energy development business
Posted at 21/8/2012 07:08 by cwa1
Some nice news:-



Receipt of $6m clean energy grant
Camco International Limited (AIM: CAO), a global developer of clean energy projects and solutions to reduce greenhouse gas emissions, is pleased to announce that its US operation has received a grant from the US Treasury of approximately $6m.
The grant has been awarded in connection with the construction of its 4.5 MW anaerobic digester, completed on time and ahead of budget earlier this year, at a 15,000 head dairy farm located in Jerome, Idaho. The digester produces biogas from cow manure that is then used to produce renewable electricity.
The grant was received under the federal grant programme funding established by the American Recovery and Reinvestment Act of 2009.
The majority of the funds received will be used to repay a loan which was used to fund part of the construction of the project.
Scott McGregor, CEO of Camco said:
"This grant resulted from the hard work, experience and commitment to deliver projects that we have based in North America. With a strong pipeline of projects, proven project development expertise, and the ability to successfully finance projects, Camco is well positioned to become the leading developer and owner of agriculture biogas plants in the US in the years ahead."
Posted at 13/8/2012 07:07 by howdlep
Excellent news. One for the bell at hese levels?

RNS Number : 8217J
Camco International Ltd
13 August 2012



13 August 2012



Camco International Limited

("Camco" or the "Company")

Camco South East Asia to develop 2 megawatt biogas project in Malaysia

Camco International Limited (AIM: CAO), a global developer of clean energy projects and solutions to reduce greenhouse gas emissions, is pleased to announce the first biogas clean energy project for Camco Southeast Asia ("Camco SEA").

The 2MW biogas project, based at a leading palm oil mill in Palong, Pahang state, Malaysia, will use anaerobic digestion to recover biogas containing methane from palm oil mill effluent ("POME"). The project will be amongst the largest of its type to date to generate electricity for supply to the Malaysian national grid.

Camco SEA has acquired the rights to develop the project through the acquisition of Biopower Climate Care Holding SDN Bhd a fully owned subsidiary of Rhodia Energy GHG (France). Camco SEA will continue the construction of the project, with completion of the plant expected in early 2013. Total costs anticipated to be incurred by Camco SEA in developing the project to completion, including the above acquisition, are anticipated to be approximately US$4 million.

Waste, including POME, from the region's 1,000 plus Palm oil plantations is a significant issue for plantation owners, local communities and the region in general and contributes significantly to total emissions. As a result, the Malaysian government recently introduced a renewable energy feed-in tariff to incentivise the conversion of waste into power and it is expected over the coming years that Palm oil producers will come under increasing pressure to reduce waste from their production processes.

The project is being developed under a 13 year build-own-operate-transfer ("BOOT") agreement with the mill owner commencing upon the plant's completion. Under this agreement, the mill owner will provide sufficient POME feedstock free of charge covering the full contract period. Once operational, the plant will generate revenue from the sale of electricity to the grid and from the sale of carbon credits generated under the UN clean development mechanism. The mill owner will receive a portion of the power and carbon sales under a revenue share agreement.

The electricity will be sold to the grid through a renewable energy power purchase agreement ("RE PPA") to be entered into with one of the Malaysia utilities, under the renewable energy feed-in tariff which sets a guaranteed off-take price for the duration of the project (see www.seda.gov.my for further details).

The Palong project is an important milestone for Camco SEA and represents a significant step towards its goal of developing and owning a portfolio of emissions to energy projects across Southeast Asia. With a strong pipeline of future projects and significant project development expertise and local knowledge, Camco SEA is well positioned to deliver on its strategy and become the leading player in the emissions to energy market in the region. The project will be funded directly from existing cash resources within Camco SEA.

Kent Carter, Managing Director of Camco Southeast Asia said:

"I am very pleased with our acquisition of the Palong biogas project, as it strengthens Camco SEA's market position in the biogas development business, one of the fastest growing areas of renewable energy development in the region."

Scott McGregor, CEO of Camco said:

"I am excited to see our strategy of developing and owning clean energy assets extending to South East Asia. Strategically the biogas industry in South East Asia is a key sector to reduce emissions across the region and with our experience and resources available globally we are well positioned to lead this sector."
Posted at 11/7/2012 11:36 by howdlep
Looks like a very good, experienced CFO appointment. Now to realise value for shareholders, hopefully with more Henderson purchases:-


9 July 2012



Camco International Limited

("Camco")



Board Change - Appointment of Chief Financial Officer



Camco International Limited (AIM: CAO), a global developer of clean energy projects and solutions to reduce greenhouse gas emissions, is pleased to announce the appointment of Jonathan Marren as Chief Financial Officer and member of the Board with effect from today.



Jonathan was most recently Deputy Head of Corporate Finance at Singer Capital Markets, prior to which he was at Peel Hunt between 2000 and 2010 where he was a Director in the Corporate Department with responsibility for their new energy and clean tech franchise. He acted as an advisor to Camco at both Singer Capital Markets and previously at Peel Hunt. Jonathan qualified as an A.C.A. with Arthur Andersen in 1999.



Jeff Kenna, Acting Chairman of Camco said: "On behalf of the Board I would like to welcome Jonathan and look forward to working with him. His considerable experience of working in the new energy and cleantech environment will be extremely valuable as we continue to grow our projects division."



Jonathan Marren said: "It's a very exciting time to be joining Camco. The carbon portfolio has been successfully structured to have significant value despite current market conditions and the projects business continues to develop well and provides a platform to produce strong revenue streams in the future. I look forward to working with the team to deliver value from Camco's leadership position in strategic markets where emission reduction and clean energy development will be a focus for many years to come."



Additional disclosures:



Full Name: Jonathan Anthony Frank Marren



Age: 37 years



There is no additional information required to be disclosed pursuant to Schedule 2(g) of the AIM Rules.





Enquiries:



Camco
+44 (0)20 7121 6100

Scott McGregor, Chief Executive Officer








Singer Capital Markets (Camco Nominated Adviser and Broker)
+44 (0)20 2305 7500

James Maxwell








Kreab Gavin Anderson (Investor Relations)
+44 (0) 20 7074 1842

Ken Cronin








Citigate Dewe Rogerson (PR Advisor)
+44 (0) 20 7638 9571

Chris Gardner / Malcolm Robertson








Notes to editors



About Camco



Camco International Limited (Camco, AIM: CAO) is a global developer of clean energy projects and solutions to reduce greenhouse gas emissions with operations in the US, the UK, China, Africa, Russia and SEA.



Camco has a 20-year track record in project development, technical delivery and policy development, working with local industry, multinational companies, governments and regulatory bodies.



The Carbon Project Development business has created one of the largest emission reductions portfolios and has structured ground breaking and innovative arrangements for the sale and delivery of emission reductions to compliance and voluntary buyers.



Camco's Clean Energy Project Development and Investment teams collaborate with industry, project developers, equipment providers and investor groups to create emissions-to-energy projects and maximise sustainable energy production across a range of industries; including agricultural methane, industrial energy efficiency, coal mine methane, municipal solid waste, biomass and landfill gas.



The Energy and Carbon Advisory teams provide strategic, commercial and technical expertise accrued over two decades to deliver low carbon energy and sustainable development solutions.



www.camcoglobal.com
Posted at 18/5/2012 08:58 by 27howard
Rat Attack

I'm not giving up hope, look at PVCS, yesterday like Cao bombed out, today up
123% because of a large cash injection way above market cap, I'm punting on a
similar reaction to CAO results although I do not see a % gain like that but I do see a reversal of the downtrend.
Posted at 17/5/2012 00:14 by bozzy_s
Yes indeed Howard. Add into the mix their recent resource upgrade, increased production, the fact they are trading profitably and on a current P/E of 5 with profits growing at a good rate annually. Future P/E of maybe 3. And they are fully funded, like CAO, with plenty of cash in the bank. Ought to be trading on a P/E of 10 at 22p per share.

Both these look incredibly undervalued - more so than PAA right now which has short-termers still buzzing around - you know they will sell into any rise because of the desperate daily ramping! When they're gone, and the share price is back below 15p (might happen immediately after results - which I'm expecting to be poor from 2011), I hope to have made good profits in CAO and GDP to rebuy into PAA for a long-term hold.
Posted at 21/3/2012 07:44 by howdlep
rat attack et al,

There is no delay to the publication of results. Management can release them at any point up to and including 30 June 2012. They will include a forwarding looking outlook, which will include reference to the carbon credit market.

What is of relevence to me, is the excellent cash position and of course news of contract wins, as per the one in Tanzania this morning, worth USD1.1m to Camco.

On a risk/reward basis, CAO now represents an even better investment.

So is now the time for the pi to get back in?

Camco and Rex tender for Solar Programme

RNS
RNS Number : 7210Z
Camco International Ltd
21 March 2012



21 March 2012

Camco International Limited

('Camco')



Camco and Rex awarded Tender for Largest Solar Installation Programme in Tanzania



Companies form joint venture to bring renewable energy to rural Tanzania through the Millennium Challenge Corporation



· Camco and Rex have been awarded a USD $4.7 m contract to bring solar power to off-grid communities in rural Tanzania

· JV recognized as bidder with specialised capability to offer the required expertise set

· Project beneficiaries include schools, health centres and households



Camco International Limited (AIM: CAO), a global developer of clean energy projects and solutions to reduce greenhouse gas emissions and Rex Investment Ltd (RIL), a leading solar contractor based in Tanzania, are pleased to announce that their recently formed joint venture has won a tender, worth USD $4.7m, to distribute and install solar power systems in the rural Kigoma region of Tanzania.



The contract was awarded by the Millennium Challenge Corporation (MCC), a US foreign aid agency which operates in Tanzania as the Millennium Challenge Account - Tanzania (MCA-T). The Kigoma solar project is the largest of its type in Tanzania's history and will involve the installation of solar power at 45 secondary schools, 10 health centres, 120 dispensaries, municipal buildings and businesses across 25 village market centres currently without access to the electricity grid.



As part of the project Camco will also work to encourage households in the region to install small-scale solar home systems (SHS) by advising communities on the collective purchase and installation of systems in bulk, thereby achieving significant economies of scale. This mechanism, known as the 'PV Clusters' project format, is already being implemented by Camco in rural communities across the Lake Victoria region of Tanzania, announced in September last year.



Camco and RIL were successful in a public bid, emerging as the only bidder that combined the required forte in importing and distributing solar equipment. Rex is Tanzania's leading solar contractor and Camco is the market leader in rolling out solar home systems across Tanzania.



The contract, which is due to commence in May 2012 has a value to Camco of USD $1.1 million over its duration and attaches to the company no upfront cost. The remaining USD $3.6 million will be received by RIL and includes provision for the upfront equipment procurement costs linked to the contract.



Currently only 15% of Tanzania's population has access to electricity according to the country's Ministry of Energy and Minerals. Tanzania ranks amongst the world's top ten countries for solar irradiation and small-scale solar power installations of the type promoted under the Kigoma programme are expected to play an increasingly important role in meeting the growing energy demand of Tanzania's rural communities.



Implementation of the Kigoma project is expected to begin in May this year and is due for completion by July 2013. The project is part of the five-year Compact grant, extended to the United Republic of Tanzania by the Government of the United States of America through the Millennium Challenge Corporation (MCC) with the objective of reducing poverty and stimulating economic growth.



Jeff Felten, Managing Director, Camco Tanzania said: "We are delighted that the MCC has recognized the positive impact small-scale solar installations can have on rural off-grid communities in Tanzania. While industrialized countries are trying to rethink or refit their old coal-fired plants, much of Africa could potentially leapfrog that stage and move straight to renewable energy generation. The MCC's award of the Kigoma Solar Project to the joint venture partnership between Camco and RIL is an important validation of our unrivalled expertise and experience developing off-grid rural energy projects in Tanzania. In RIL we are pleased to have identified a strong contractor with which to partner and Camco looks forward to working together to further expand the market for solar energy use in Tanzania."



Francis Kibhisa, RIL's founder and Managing Director said: "The primary goal of the joint venture is to promote the use of solar PV by municipal organizations and commercial businesses in rural communities throughout Tanzania, many of which do not currently have access to the electricity grid. We hope to continue to work alongside Camco to expand the model implemented here and develop solar projects throughout Tanzania and beyond."



During the signing ceremony, MCA-T Chief Executive Officer, Mr. Bernard Mchomvu congratulated the joint venture for winning the tender following an international competitive procurement process and added "Successful implementation of the project will improve the economic and social well-being of the communities living in the targeted areas".





Notes to the editor

Camco International Limited (Camco, AIM: CAO) is a global developer of clean energy solutions and projects to reduce greenhouse gas emissions with operations in the US, the UK, China, Africa, Russia and SEA. Camco has a 20-year track record in project development, technical delivery and policy development, working with local industry, multinational companies, governments and regulatory bodies. The Carbon Project Development business has created one of the largest emission reductions portfolios and has structured ground breaking and innovative arrangements for the sale and delivery of emission reductions to compliance and voluntary buyers. Camco's Clean Energy Project Development and Investment teams collaborate with industry, project developers, equipment providers and investor groups to create emissions-to-energy projects and maximise sustainable energy production across a range of industries; including agricultural methane, industrial energy efficiency, coal mine methane, municipal solid waste, biomass and landfill gas. The Energy and Carbon Advisory teams provide strategic, commercial and technical expertise accrued over two decades to deliver low carbon energy and sustainable development solutions.

www.camcoglobal.com

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