Tanzania secures loan to finance 150 MW solar power project
DAR ES SALAAM, June 11 (Xinhua) -- The government of Tanzania on Friday signed a concessional loan agreement worth 130 million euros (about 157 million U.S. dollars) with the French Development Agency (AFD) to finance a 150-megawatt solar project.
The agreement was signed in the capital Dodoma between the permanent secretary in the Ministry of Finance and Planning, Emmanuel Tutuba and the French ambassador to Tanzania, Frederic Clavier and AFD's country director Stephanie Mouen Essombe.
A statement released by the Ministry of Finance and Planning said the solar project will be implemented in Tanzania's northern district of Kishapu in Shinyanga region from March 2022 to March 2023.
The statement said the project was aimed at increasing security of power supply and enabling state-run Tanzania Electric Supply Company Limited to fulfill the target of diversifying energy generation sources with renewable power generation mix.
The project will reduce dependence on hydropower during daylight hours and allow conservation of generation capacity, thereby allowing spare capacity to be used during peak demand periods as well as during extensive dry season. Enditem