Rift Valley Energy Renewable portfolio expansion

active

The project involves the expansion and construction of new renewable energy infrastructure with a total capacity of 7.6MW. This includes new 2.4MW onshore wind and 5.2MW hydropower installations aimed at increasing the availability of renewable energy. It is located in the Southern Highlands of Tanzania, near the villages of Malamba and Bunyakikosi in the Rungwe District, approximately 15 km from Tukuyu Township. The project is expected to provide energy to approximately 170,000 people annually and connect 4,000 businesses and households to the grid for the first time. The electricity generated by the new installations will primarily be sold to Tanzania's national utility, TANESCO, through Standardized Power Purchase Agreements (SPPAs). The main off-taker of the produced electricity will be TANESCO. The total funding for the project is $15 million, provided via a loan by British International Investment (BII). Sponsor is Rift Valley Energy, which is owned and managed by Meridiam. The financial closure for the project was achieved on June 18, 2024. https://africa-energy-portal.org/news/tanzania-rift-valley-energy-connects-its-24-mw-wind-farm-mwenga ; https://www.riftvalleyenergy.com/projects/suma-hydro-power-and-rural-electrification/ ; https://www.vccircle.com/meridiamowned-rift-valley-energy-secures-15-mn-commitment ; https://www.meridiam.com/news/bii-signs-agreement-with-meridiam-to-provide-15m-to-rift-valley-energy-to-expand-access-to-sustainable-energy-in-tanzania/ https://africa-energy-portal.org/news/tanzania-rift-valley-energy-connects-its-24-mw-wind-farm-mwenga ; https://www.riftvalleyenergy.com/projects/suma-hydro-power-and-rural-electrification/ ; https://www.vccircle.com/meridiamowned-rift-valley-energy-secures-15-mn-commitment ; https://www.meridiam.com/news/bii-signs-agreement-with-meridiam-to-provide-15m-to-rift-valley-energy-to-expand-access-to-sustainable-energy-in-tanzania/