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Thursday, May 26, 2016
Tanzania’s energy industry is set to see a big boost in investment according to Kassim Majaliwa, the country’s prime minister. The government plans to be investing $1.9 billion per year by 2025 in energy projects to bring about an end to power shortages and boost industrial growth.
The government wants to see its power generation capacity go from its estimated 1,500 MW currently to 10,000 MW. The boost will be achieved using natural gas and coal.
“Tanzania’s electricity sector faces another important challenge. As it is heavily dependent on hydropower, energy provision cannot be ascertained in times of drought,” Majaliwa said in a statement. “Severe and recurrent droughts in the past few years triggered a devastating power crisis as electricity generation in most of the hydropower stations have progressively been declining in recent years, occasionally resulting in long hours of power black outs.”
Majaliwa said the government wants to see more private capital investment in the energy sector.
“The projected power projects funding exceeds the existing government fiscal space,” he said. “To attract private capital, the government is improving institutional set up, legal and regulatory frameworks.”
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