M a r k e t N e w s

Chinese give $136m for Tanzania wind bid

Posted on : Tuesday, 29th July 2014

DAR ES SALAAM, Tanzania - The Export–Import Bank of China has given Dar a soft loan of  Tsh 226.7 billion (about $136million) for the wind power project in the Singida region which would be able to generate 50MW.

Speaking during 38th Dar es salaam International Trade FAIR (DITF) in National Development Cooperation pavilion, NDC Head of Chemical Industry, Abdallah Mandwanga said, the project will start to generate 50MW by using wind through a firm called Geo Wind Power Tanzania Limited by 2016.

“This project is focus on mitigating the shortage power in our country and to help the our people especial from rural areas to get reliable electricity and increase their production and income,” he said.

This project is a result of the government of Tanzania’s push for diverse energy sources, as drafted in its recent policy on renewable energy. 

He said the project has the capacity of generating over 300 MW but the loan given by the bank can only enabled the company to produce 50MW of power which would be directly be connected to the national grid.

All important things including research, land owning, environmental permission and pay compensation for residents living around the village have already been completed, he said.

The project will be located at Kisasida village in Singida urban district after the signing of the financial pact and the construct and installments of machine by a Chinese constructor will officially start in December this year.

The contractor will begin by building the power infrastructure and the 12kms transmission system connected to national grid at Kisasida.

This project is a result of the government of Tanzania’s push for diverse energy sources.

He said this project shows another effort taken by the government to ensure people in the rural area become connected, get access of reliable power, therefore they will run their businesses smoothly.

The loan broaden will be expected to be October this year where by financial closure is expected.

Joint Ventures Company has been incorporated as Geo Wind Power Tanzania Ltd to oversee the project under Public Private Partnership arrangement. 

The project involves three  shareholders whereas  are National Development Cooperation, TANESCO and Power Pool East Africa Ltd. located in Singida Municipality.

Source : busiweek.com
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