Tanzania is set to increase its power generation capacity to 1,000 megawatts by 2030, thanks to a $320 million project with Siemens Energy of Sweden.
Raddy Energy Solution Limited signed a memorandum of understanding with Siemens to construct gas-fueled power plants with a total capacity of 177 megawatts.
The project, facilitated by CRDB Bank, involves manufacturing equipment in Tanzania and commissioning it by the end of 2027.
Swedish government agencies, including the Swedish Energy Agency and Business Sweden, are supporting the initiative.
Raddy Energy aims to contribute to Tanzania's energy needs and support industrialization efforts through reliable electricity supply.
The partnership with Siemens Energy underscores international cooperation in energy and infrastructure projects.
The project is expected to boost Tanzania's energy sector and economic growth through increased power generation and infrastructure development.
The Tanzania-Sweden business forum, held in Stockholm, facilitated the partnership between Raddy Energy and Siemens Energy.
Tanzanian Ambassador Mobhare Matinyi and Raddy Energy CEO Ramadhan Hassan Mlanzi led the Tanzanian delegation.
Swedish government agencies, including the Swedish International Development Cooperation Agency (SIDA) and the Swedish National Institute of Technology (NIR), are providing technical support for the project.
The project will create opportunities for local employment and skills development in the energy sector. Raddy Energy and Siemens Energy will work together to ensure the successful implementation of the project.
CRDB Bank is providing financing for the project, with the Swedish Energy Agency (EKN) and Business Sweden supporting the initiative.
The project aligns with Tanzania's development goals, aiming to increase access to reliable and affordable energy. Siemens Energy will provide technical expertise and equipment for the project.
Raddy Energy is the parent company and sister company of Raddy Fibers, located in Mkuranga, Pwani. The company is committed to contributing to Tanzania's energy sector growth.
The project is expected to be completed by the end of 2027, with the first phase targeting to generate 177 megawatts of power.
Tanzania's government supports initiatives that promote economic development and energy security through public-private partnerships. The partnership with Siemens Energy and Raddy Energy demonstrates the country's commitment to energy development
The Swedish government agencies involved in the project are committed to supporting Tanzania's development efforts. The project is a significant step towards enhancing Tanzania's energy infrastructure and economic prospects.
The project will contribute to Tanzania's economic growth, improve the business environment, and increase access to reliable energy.