- Masdar and TANESCO to develop renewable energy projects with a total capacity of up to 2GW.
Clean energy developer, Masdar is set to build renewable energy projects in Tanzania. Abdulla Zayed, Head of Business Development and Investment at Masdar and Maharage Chande, Managing Director of TANESCO signed the investment deal on the sidelines of the Tanzania Energy Congress in the presence of Hon. January Makamba, Minister for Energy for Tanzania.
The Joint Development Agreement (JDA) envisages the establishment of a co-owned joint venture (JV) company by the two organizations to develop the project. Through the JV, the two companies are initially targeting the development of renewable energy projects with a capacity of about 600 megawatts (MW), starting with solar photovoltaic (PV) and onshore wind. The JV will further explore the development of projects with a total capacity of at least 2,000 megawatts.