Tanzania has secured a $60 million loan from the Organization of Petroleum Exporting Countries Fund for International Development (OPEC Fund) for the construction of a 166km over-head electricity transmission line connecting consumers in the Kagera region to the national grid.
The $60 million loan from the OPEC Fund will be combined with a $30 million loan secured from the Abu Dhabi Fund for Development, a $12.8 million loan from the Saudi Fund for Development and $2.6 million in funding from the Tanzanian government to support the construction of the transmission line.
The project will enable Tanzania’s new 80 MW Rusumo and 87 MW Kakono hydropower plants – which are expected to be operational by 2024 and 2030, respectively – to supply electricity to consumers in Kagera.
Once completed, the electricity transmission line is expected to strengthen energy security in northwest Tanzania, reducing the country’s energy costs as well as dependence on energy imports from Uganda.
Additionally, the project will accelerate renewable energy penetration while boosting economic opportunities for Kagera residents by improving access to reliable energy for agriculture and water projects.
Source: www.energycapitalpower.com
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