NewEnergyNews: CHINA’S $136 MIL BACKS TANZANIA WIND

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    Friday, August 08, 2014

    CHINA’S $136 MIL BACKS TANZANIA WIND

    China Export-Import Bank Provides $136 Million For Tanzania Wind Project

    Mridul Chadha, August 4, 2014 (Clean Technica)

    “…[Recently recognized by the UN Environmental Program as the world’s largest player in renewables trade and investment, China] has been lending financial and technical assistance to African countries looking to install solar, wind, and hydro power projects…[and] Tanzania has become the latest beneficiary…China’s Export-Import Bank will provide $136 million in loan to set up a [50 MW] part of [300 MW wind energy project]…[T]o be developed by Geo Wind Tanzania Limited, [it] is expected to start power generation from December 2016. The company will sign agreements with a Chinese contractor for the supply of wind turbines and other equipment and construction of the project…According to the Energy and Water Utilities Regulatory Authority (EWURA), Tanzania’s electricity sector (PDF) is in urgent need of renewal. While the country has an installed capacity of 1,521 MW, only 900 MW of capacity is available. National connectivity in the country is low at 21%, with the rural connectivity even lower at 7%. The government aims to increase national connectivity to 30% and rural connectivity to 15%...Tanzania is gifted with significant renewable energy resources…Small hydropower and geothermal energy have estimated potential of about 480 MW and 650 MW respectively…” click here for more

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