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$140 Million subsidy awarded to Tanzania by the Africa Development Bank Group (AfDB)
Posted On 05 Jun 2021
By Abdul Rahman Bangura–
Photo Credit: Iron and Steel Africa Review
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The grant sought at establishing the 50-megawatt Malagarasi hydropower plant and an evacuation transmission line and expanding 4,250 rural electrification connections. The grant comprises a $120 million sovereign loan from AfDB and $20 million from the
Africa Growing Together Fund (AGTF). AGTF is a facility financed by the People’s Bank of China and administered by AfDB.
The project intends for at giving credible renewable energy to households, schools, clinics and small and medium-sized enterprises in the Kigoma Region. It’s is one of six infrastructure projects, with a cumulative value of $1.12 billion, which the AfDB has endorsed in Tanzania over the last three years.
Malagarasi Hydropower Station is aimed at to strengthen 50 MW to the Tanzanian National Electricity Grid, alongside providing with sustainable, renewable, green energy to Kigoma and surrounding communities, e.g. Uvinza, Kasulu and Buhigwe, that presently receive electricity from diesel sources. Any surplus electricity from Malagarasi
will be integrated into the national grid at Kidahwe electric substation. Additionally, anew 53 kilometres (33 mi) 132kV high voltage power line from the new power station to the substation at Kidahwe, is a component of this project.
Conclusively, AfDB names the project’s following benefits which but not limited to: Creating approximately 700 jobs during the construction phase. Reducing production costs of electricity in the Kigoma Region from $0.33 to about $0.04 per kilowatt-hour. Reducing use of fossil fuels and the attendant emission of greenhouse gases. The cost of doing business is expected to reduce because, the industry will no longer need to maintain expensive backup
generators.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
Email: Info@newafricabusinessnews.com
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