Masdar, Tanzania’s TANESCO to develop renewable energy projects

by clean energy, Energy, Masdar, Tanzania Electric Supply Company0 comments


Masdar has signed a joint development agreement (JDA) with the Tanzania Electric Supply Company (TANESCO) to develop renewable energy projects, with a total capacity of up to 2 GW, in Tanzania.

The JDA envisages the establishment of a co-owned joint venture (JV) company by the two organisations to support and action project development.

Maharage Chande, MD of TANESCO, said, “The agreement will bring about a big revolution in the development of renewable energy in the country. Through the first phase of the collaboration, we expect to generate approximately 600 MW, and we will continue with other projects until we reach 2,000 MW.”

Abdulla Zayed, head of business development and investment at Masdar, said, “Masdar and TANESCO are working together to support Tanzania’s sustainable development and to provide a secure, clean source of energy for the people of Tanzania.

“The signing of this agreement demonstrates Masdar’s commitment to the Tanzanian market and to the nation’s energy transition, supporting the target to reach 5,000 MW capacity by 2025. We look forward to working with TANESCO to develop this ambitious programme and to provide a clean pathway for growth for Tanzania.”

Through the JV, the two companies are initially targeting the development of renewable energy projects with a capacity of about 600MW, starting with solar photovoltaic (PV) and onshore wind projects. The JV will further explore the development of projects with a total capacity of at least 2,000 MW.

As the country’s only provider of electricity, TANESCO wants to add more renewable energy sources to the national grid to meet the country’s growing demand for power and increase energy access. The Tanzanian government is targeting an electrification rate for the entire country of 75 per cent by 2035.

In recent news, Masdar announced it achieved ‘financial close’ for its 230-megawatt (MW) Garadagh Solar Photovoltaic Plant in Azerbaijan, the country’s first foreign investment-based independent solar power project, and Masdar’s first project in the country.

Read: Masdar announces financial close on Garadagh Solar PV Plant in Azerbaijan



Source link

0 Comments

Submit a Comment

Your email address will not be published.