Masdar has signed an agreement with the Tanzanian state-owned power utility Tanzania Electric Supply Company (Tanesco) related to the development of renewable energy projects with a total capacity of up to 2 GW. Masdar is a renewables company owned by the Emirati sovereign wealth fund Mubadala.
The Joint Development Agreement (JDA) foresees the creation of a joint venture (JV) between the two companies to progress the project development. Masdar and Tanesco, through the JV, are targeting the development of renewable projects with a capacity of 600 MW, starting with solar and onshore wind. The JV will further explore the development of projects with a total capacity of at least 2,000 MW.
The country aims to reach an installed capacity of 5,000 MW by 2025 (1,630 MW in 2020, with 890 MW of gas and 570 MW of hydro) and an electrification rate of 75% by 2035 (45% in 2020).
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