World Bank’s IFC, Aldwych International, & Six Telecoms partner for 100 MW Wind Farm in Tanzania
The World Bank’s International Finance Corporation (IFC) is partnering with Aldwych and Six Telecoms to develop a 100 MW wind farm in Singida, Tanzania, enhancing power supply reliability, decreasing the need for costly fuel imports, and helping fight climate change.
Being developed by project company Wind East Africa, the Singida project will be Tanzania’s first independent wind energy power project. The project is a result of the Government of Tanzania’s push for diverse energy sources, as drafted in its recent policy on renewable energy. The total project investment for the wind farm is estimated to be worth US$285 million, of which IFC, Aldwych and Six Telecoms will contribute $18 million during the development stage and $71 million in total equity.
Located 700 kilometres from Dar es Salaam, the Singida wind farm will produce power through wind turbines to help diversify Tanzania’s electricity away from hydropower. When the hydropower supply drops during times of drought, Tanzania has had to turn to costly emergency power. Wind energy is an innovative way to boost power supply, with Singida expected to add 100 MW of capacity.
Singida will also provide power at more stable cost, as tariffs for wind energy remain relatively constant as no fuel source is required. The farm will be owned by Wind East Africa and operated by a management company led by Aldwych and Six Telecoms.
In addition to the investment, IFC will assist in the overall project development. IFC will lend its experience and expertise to project structuring process and to ensure that the project meets the appropriate environmental and social standards.