Wednesday 24 August 2022

Masdar and TANESCO in renewable energy tie-up in Tanzania

Masdar has signed an agreement with Tanzania Electric Supply Company (TANESCO) for the development of renewable energy projects with a total capacity of up to 2GW.

The first phase of the joint venture will see the two companies develop 600MW of projects, starting with solar and onshore wind.

The collaboration is part of TANESCO's plans to add more renewable energy sources to the national grid to meet Tanzania’s growing demand for power and increase access to energy.

It supports the government's target to achieve an electrification rate of 75% by 2035.

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 signing of this agreement demonstrates Masdar’s commitment to the Tanzanian market and to the nation’s energy transition, supporting the target to reach 5,000MW capacity by 2025.

“We look forward to working with TANESCO to develop this ambitious program and to provide a clean pathway for growth for Tanzania.”