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Tanzania

Tanzania

Loan to build 50MW Tanzania plant

TANZANIA: Tanzania's state-run National Development Corporation (NDC) has secured a $123 million loan from the Exim Bank of China to build a 50MW wind power project, according to local media reports.

The project, at Singida, is co-owned by NDC (51%) and Power Pool East Africa Ltd, a privately owned company (49%). All being well, the plant will be commissioned in 2013.

According to earlier reports, the loan is conditional on a Chinese company being awarded the contract either to build, own and operate, or build, own, operate and transfer the project. The non-concessional loan has a 20-year tenor.

Tanzania's electricity deficit has been growing in recent years with the expansion of the mining sector. The country relies mainly on hydropower, but has significant wind resources, particularly around Singida and along the coast. Wind could be used to complement hydro during the dry season.

Wind East Africa is also developing a 100MW project near Singida.

 


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