Dubai: Abu Dhabi’s Masdar has signed an agreement with Tanzania Electric Supply Company (TANESCO) related to the development of renewable energy projects with a total capacity of up to 2 gigawatts (GW).
Through the JV, the two companies are initially targeting the development of projects with a capacity of about 600 megawatts (MW) starting with solar photovoltaic (PV) and onshore wind.
“The agreement we are signing today will bring about a big revolution in the development of renewable energy in the country,” said Maharage Chande, The Executive Director of TANESCO.
Abdulla Zayed, Head of Business Development & Investment at Masdar, said: “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 5,000 MW 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,” said Zayed.