- Category: Other Markets
04 Oct 2012
- Published on Thursday, 04 October 2012 10:43
- Hits (1362)
Nineteen British companies are set to boost Tanzania’s renewable energy sector, particularly solar, wind and geothermal power that all have vast energy prospects to match the African country’s energy demands.
Using its International Climate Fund, the United Kingdom will provide £3 billion ($4.83 billion) to spur private investments instead of relying on aid to finance low-carbon generation in Africa, reported the Daily News.
Currently, 50 percent of Tanzania’s electricity comes from hydropower. Given that the region experiences energy shortages brought by recurring drought on its hydroelectric facilities, there is a need to look for alternative resources.
The U.K.’s move was timely and was hoped would help Tanzania in its current efforts to move away from its dependence on hydropower generation, Tanzanian deputy minister for energy and minerals Stephen Masele told Daily News.
For instance, geothermal sources beneath the country’s surface hold a potential 650 megawatts of total installed capacity – an amount around three quarters of the country’s current electricity needs. There are 50 ideal sites that have been identified for geothermal exploration and development, according to British minister for energy and climate change Greg Barker.
Meanwhile, Tanzania’s overall power generation is expected to grow by a yearly average of 6.86 percent between 2012 and 2021 and reach 9,60 terawatt-hours according to Market Publishers Ltd.
This output includes a 6 percent annual average increase in hydropower generation.
During the previous year, the country had installed a combined renewable energy capacity of 597 MW from biomass, geothermal, hydroelectricity, solar and wind.
“What the government is doing now is to undertake feasibility studies on renewable energy projects, but when it comes to exploration, we need investors like our British friends,” said Mr. Masele. – C. Dominguez