China provide $123m loan for Tanzanian wind farm

Tanzania's National Development Corporation (NDC) has announced that China's Exim Bank (Beijing) has granted a $123m loan to back the building of the Singida wind farm in Tanzania's Central Region.

NDC will hold a 51 per cent stake in the project and a private company, Power Pool East Africa Limited (Tanzania), will hold 49 per cent and will service the non-concessional loand for 20 years. The wind farm is expected to be fully operational within the next five years.

In the next few years, power from the wind project is expected to reach 300 MW.

Singida is one of the largest wind projects to be undertaken in sub-Saharan Africa. There are consistently strong winds along the top of the eastern Rift Valley, where the mountain plateau runs through East Africa, from Ethiopia down to Malawi and Mozambique.

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