Abu Dhabi’s renewable energy company Masdar has signed an agreement with Tanzania Electric Supply Company Ltd (TANESCO) for the development of renewable energy projects totaling a capacity of up to 2 GW, Masdar announced on August 5.
Through the joint venture, the two companies are initially targeting the development of renewable energy projects with a capacity of about 600 MW starting with solar photovoltaic (PV) and onshore wind. The agreement will further explore the development of projects with a total capacity of at least 2,000 megawatts.
TANESCO, the sole provider of electricity in Tanzania, is looking to add more renewable energy sources to the national grid to meet the country’s growing demand for power and increase energy access. The government of the East African country is targeting an electrification rate for the entire country of 75% by 2035.
Abdulla Zayed, head of Business Development & Investment at Masdar and Maharage Chande, managing director of TANESCO, signed the agreement on the sidelines of the 5th Tanzania Energy Congress in the presence of January Makamba, Minister for Energy for Tanzania.
“The agreement we are signing today will bring about a big revolution in the development of renewable energy in the country,” Maharage Chande, executive director of TANESCO, said in a statement.
“Through the first phase of the collaboration, we expect to generate approximately 600 megawatts, and we will continue with other projects until we reach 2,000 megawatts.”
Abdulla Zayed, head of Business Development & 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 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, Zayed added.
We look forward to working with TANESCO to develop this ambitious program and to provide a clean pathway for growth for Tanzania.”
Abdulla Zayed, head of Business Development & Investment, Masdar
On August 2, Masdar achieved financial close for its 230MW Garadagh Solar PV plant in Azerbaijan – the nation’s first foreign investment-based independent solar power project.
In March, Masdar’s CEO attended the groundbreaking ceremony for the Garadagh solar PV plant, which is expected to start commercial operation in 2023.
