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Chinese investors eye Tanzania's power generation sector

Xinhua, March 31, 2016 Adjust font size:

Chinese investors in power generation on Wednesday expressed their intention to open business in Tanzania to enable the sector to contribute to the country's socio-economic development.

They expressed their intention when they met the Permanent Secretary in the Ministry of Energy and Minerals in charge of Energy, Juliana Pallangyo, and experts from the Tanzania Electric Supply Company Limited (Tanesco), the State Mining Corporation (Stamico), the National Development Corporation (NDC) and the Energy and Water Utilities Regulatory Authority (Ewura)

Speaking at the meeting, Chinese Economic and Business Representative to Tanzania Lin Zhiyong said companies dealing with energy production were interested in investing in Tanzania, where opportunities abound.

He also said that a special Chinese delegation was expected in Tanzania next week to get a first-hand information on the potentials available in the sector.

"They will come to see policies and government strategies in the energy sector before signing preliminary agreements," the official said.

Lin said that Chinese investors were ready to partner with their Tanzanian counterparts in power generation, so that the country could get enough power for the country's economic prosperity.

Pallangyo commended the Chinese delegation for showing interest in the energy sector and urged them to explore the available opportunities.

"Our people need reliable energy that will stimulate the economy of the country. So, we're welcoming investors to invest in power generation," he said, citing some of the energy sources as gas, geothermal, coal, solar and wind power.

Tanzania's resources which are suitable for solar power generation are estimated to be equivalent to those of Spain, and areas of high wind power potential cover more than ten per cent of the country.

According to the World Bank's Energy Sector Management Assistance Programme (ESMAP), the current electrification rate in Tanzania stands at 18.4 percent.

The target is to increase access to modern electricity to 75 per cent of the population by 2035. Endit