Photo from Masdar's website.

Masdar, TANESCO ink deal for 2GW RE development

A joint venture company will be formed for the project development.

UAE-based renewable energy firm Masdar and the Tanzania Electric Supply Company (TANESCO), Ltd. signed a Joint Development Agreement to develop renewable energy projects of up to two gigawatts (GW) in capacity.

In a statement, Masdar said the agreement aims to establish a co-owned joint venture firm to oversee the progress of the project development.

Through the joint venture, the two companies initially plan to develop around 600 megawatts (MW) of solar photovoltaic and onshore wind projects and further look into developing at least 2,000MW projects.

READ MORE: ADB, Masdar to build 230MW solar power plants in Azerbaijan

“The agreement we are signing today will bring about a big revolution in the development of renewable energy in the country,” said TANESCO Managing Director Maharage Chande. 

Abdulla Zayed, head of Business Development & Investment at Masdar, said the signing of the agreement shows the company’s commitment to supporting Tanzania’s energy transition and target to reach 5,000MW capacity by 2025.

Chande and Zayed signed the agreement.

The Tanzanian government aims for an electrification rate of 75% for the entire country by 2035, according to Masdar.

TANESCO,  the only electricity provider in Tanzania, plans to increase renewable energy sources in its mix to meet the country’s power demand and raise energy access.

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Could coal-based power still get funding
Asian markets have increased coal output to meet energy demand.
Indonesia’s new regulation speeds up energy transitions
The government has issued Presidential Regulation No. 112 of 2022 to limit the coal-fired power plants and gradually reduce coal consumption.