UAE’s Masdar signs agreement to develop 2 GW renewable energy in Tanzania

UAE renewable energy company Masdar has announced on Friday the signing of an agreement with the Tanzania’s Tanesco an electric supply company limited, to develop renewable energy projects with a total capacity of two gigawatts.

Tanesco will develop renewable energy projects in the first phase with a capacity of 600 megawatts, including solar photovoltaic projects, and onshore wind energy, CEO of Tanesco Maharaj Chandi.

Chandi noted that his company will continue to cooperate in other projects to reach 2000 megawatts, adding that this agreement will make a major quantum leap in the development of the renewable energy sector in Tanzania.

The agreement reflects Masdar’s commitment to the Tanzanian market and support the achievement of the national goal of providing 5,000 megawatts by 2025, Abdullah Zayed the head of business development and investment at Masdar, added.

Zayed expressed his aspiration to work with Tanesco to develop these ambitious projects and support sustainable development.

The joint development agreement signed during the Tanzanian Energy Conference; under the agreement, Masdar and Tanesco will establish a joint company that will undertake the development of the project.

Tanzanian government is targeting an electrification rate for the entire country of 75 percent by 2035.