{"id":26526,"date":"2020-11-26T21:57:13","date_gmt":"2020-11-26T20:57:13","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=26526"},"modified":"2020-11-26T21:57:13","modified_gmt":"2020-11-26T20:57:13","slug":"afdb-approves-120m-for-tanzanias-hydropower-plant","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/afdb-approves-120m-for-tanzanias-hydropower-plant\/","title":{"rendered":"AfDB approves $120m for Tanzania\u2019s hydropower plant"},"content":{"rendered":"\n<p><strong>By Tanko Mohammed&nbsp;<\/strong><\/p>\n\n\n<p>The Board of Directors of the African Development Bank has approved a $120 million loan to fund the construction of a 50 MW hydropower plant in Western Tanzania.&nbsp;<\/p>\n\n\n<p>The project will provide reliable renewable energy to households, schools, clinics and small and medium-sized enterprises in the Kigoma Region.&nbsp;<\/p>\n\n\n<p>The components of Malagarasi Hydropower project include&nbsp;&nbsp;a run-of-the-river hydropower plant facility; a 54- km, 132 kV transmission line that will connect to Tanzania\u2019s national grid.&nbsp;<\/p>\n\n\n<p>It also contains a distribution network expansion operation that includes rural electrification and last-mile connections; project management and contract administration support; and compensation and resettlement of affected persons.&nbsp;<\/p>\n\n\n<p>Bank President Adesina Akinwumi noted that the approval of the project \u201cis a reflection of the Bank\u2019s commitment to assist the Government of the United Republic of Tanzania to accelerate its transition to more inclusive and sustainable growth through the production of clean, reliable and affordable electricity.\u201d&nbsp;<\/p>\n\n\n<p>The project\u2019s overall project cost is estimated at $144.14 million. &nbsp;<\/p>\n\n\n<p>The bulk of the funding ($120 million) will be sourced from the Bank Group\u2019s sovereign window, with an additional $20 million contributed by the Africa Growing Together Fund \u2013 a co-financing fund with resources from the government of the People\u2019s Republic of China that is administered by the Bank. The Government of Tanzania will provide the remaining $4.14 million.&nbsp;<\/p>\n\n\n<p>The hydropower plant\u2019s expected average annual output of 181 GWh will meet the electricity needs of as many as 133,649 Kigoma households, bringing the region\u2019s electrification rate more closely in line with the rest of the country.&nbsp;<\/p>\n\n\n<p>The project is expected to create about 700 jobs during construction, cut the region\u2019s electricity generation costs to approximately $0.04\/kWh from the current $0.33\/kWh, and also reduce reliance on greenhouse gas-emitting fossil fuels. The cost of doing business will also fall because industry will no longer need to maintain costly back-up generators.&nbsp;<\/p>\n\n\n<p>The project aligns with Tanzania\u2019s national Development Vision 2025 and its Second Five-Year Development Plan (2016\/17 &#8211; 2020\/21) and complements other regional initiatives, including the North West Grid 400 kV Nyakanazi-Kigoma transmission line project, which the Bank is financing in parallel with the South Korea Economic Development Co-operation Fund.&nbsp;<\/p>\n\n\n<p>The Malagarasi Project will also directly contribute to the Bank\u2019s Light Up &amp; Power Africa High-5 development priority, which is being implemented through the institution\u2019s New Deal on Energy for Africa strategy. &nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Tanko Mohammed&nbsp; The Board of Directors of the African Development Bank has approved a $120 million loan to fund the construction of a 50 MW hydropower plant in Western Tanzania.&nbsp; The project will provide reliable renewable energy to households, schools, clinics and small and medium-sized enterprises in the Kigoma Region.&nbsp; The components of Malagarasi [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":26527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241,235,296],"tags":[],"class_list":["post-26526","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign","category-resources","category-social-economic","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - 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