According to recent reports, a Russian utilities company, Zarubezhstroy Corporation (ZARS), is currently planning to invest in a five year plan to construct what they are expecting to become the largest independent Tanzania hydropower plant to date.
The thriving Tanzania industry and manufacturing sectors have gained the attention of nearly 10 Indian companies, who have recently been sourcing raw materials in East Africa and have decided to increase their presence in Tanzania with an investment of more than USD 250 million to be used both for the construction of factories and for establishing their operations in the country.
The Tanzania Electricity Supply Company (TANESCO) is set to receive a USD 135 million loan from the European Investment Bank (EIB) in order to co-finance a new 667 km high voltage transmission line that is to be built between Iringa and Shinyanga in Tanzania as a part of the Tanzania Backbone Interconnector Project.
As a result of the recent agreement that was made between the Tanzania National Electric Supply Company (TANESCO) and a partnering Norwegian firm, Statnett, the Tanzania electricity provider is currently preparing to design and implement practical grid development plans, to deal with project risk and to improve its overall communication and business relationships within the country’s electricity sector.
The construction and expansion of nearly 2,880km of the Tanzania power grid is scheduled to begin early next year following the recent acquisition of USD 65 million by two US-based energy firms who are planning to begin the construction of a power transmission line that will extend to the Mwanza, Tanga, Dodoma, Mbeya and Iringa regions of the country.
The so called Energy and Environment Partnership programme, funded by the Finnish ministry of Foreign Affairs, eight other partner countries and the Development Bank of Southern Africa was launched in Dar es Salaam. Under such initiative East and Southern African renewable energy developers can get support of up to €200,000 each for carrying out feasibility studies and pilot projects.