$50m funding for Tanzania renewable-energy project secured
The World Bank’s Climate Investment Funds (CIF), designed to help developing countries pilot transformations to clean technology, on Thursday endorsed an investment plan aimed at assisting Tanzania in scaling up the development of its abundant renewable-energy resources.
The plan was designed to transform the country’s energy sector, shifting from its increasing dependence on fossil fuels and climate-sensitive hydro resources to a more diversified energy mix, that would make use of geothermal and solar resources, the African Development Bank (AfDB), which was leading the development in Tanzania, said.
The project, which included geothermal development and developing renewable energy for rural electrification, would receive $50-million in funding from the CIF’s Scaling-Up Renewable Energy Programme in Low-Income Countries (SREP), with the balance of the funding to be provided by the AfDB, the World Bank, local government, the private sector, commercial sources and other development partners.
The AfDB stated that the geothermal component of the project, that would catalyse the development of more than 100 MW of geothermal power, while also establishing an enabling environment for large-scale geothermal development, was expected to receive $25-million from SREP and $45-million from the AfDB.
Meanwhile, the component of the project focusing on renewable energy for rural electrification would include investments in renewable-energy technologies, stakeholder capacity building, integration with public-private partnerships and the provision of technical assistance and advisory services.
The AfDB added that it was expected that the Tanzanian SREP would have a transformative impact on the country through supporting low carbon development pathways that reduce energy poverty and increase energy security.
“By 2020, it is expected that per capita electricity use in Tanzania will increase from 78 kWh to 350 kWh, with yearly electricity output from renewable-energy sources increasing from 370 GWh/y to 2 000 GWh/y once the geothermal plant becomes operational,” the AfDB explained.
An additional $1.7-million in project preparation grants for the two components of the plan had also been approved.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation