NDC is looking for Investors to Purchase 1400MW Of Renewable Energy

DAR ES SALAAM: THE National Development Corporation is looking for new investors for nineteen renewable energy projects with a combined projected electricity production capacity of over 1400MW.

Seventeen of the 19 projects are solar power projects, and the remaining twelve are wind power projects, according to Mr. Sempeho Manongi, Acting Permanent Secretary of the Industry and Trade Ministry, who briefed visiting Chinese investors in Dar es Salaam.

The planned projects are located in the regions of Morogoro, Iringa, Singida, Dodoma, and Arusha, he said Chinese investors from various companies who had come to the nation to look into investment opportunities.

The participants were shown the many investment options available under the NDC, with the option to invest exclusively or in partner ventures. There are three wind power projects in Iringa that will generate 120 MW, two more wind power projects in Dodoma that will produce 100 MW, and two wind power projects in Arusha that will produce 100 MW.

But, the company has designated four solar power projects in Singida that will generate 234 MW, three in Dodoma that will create 156 MW, three in Morogoro that will generate 526 MW, and two in Iringa that will generate 190 MW.

Considering that the nation needs additional electricity for the manufacturing sector, the firm invited them to learn about investment potential in renewable energy.

“It was intended to help them comprehend the business and investment opportunities in Tanzania, as Tanzania is still a trading partner of China, and our country has been implementing an open economy with China.”

With the revision of laws and policies, we have created a welcoming atmosphere for commerce and investment. He gave the delegation his word that there was ample land for investments.

He claimed that because the two presidents have been working closely together, trade between the two nations has increased even more. Numerous trade missions have been conducted in the process of boosting trade, and these trips have improved collaboration between the two nations.

“In this regard, I anticipate that our meeting with the Chinese delegation will further strengthen our bilateral collaboration. He was hopeful that this meeting will open up a lot of chances for our nation.

He declared, “China is a large industrial nation; we invite you to invest here and support joint ventures between Chinese and Tanzanian businesses in the manufacturing and agricultural sectors.”

But the delegates have expressed interest in making investments in the nation’s agricultural sector, he added, particularly in the manufacture of medical devices, power tillers, tractors, and water pumps.

In addition, the investors stated that they were willing to invest US 11.3 million (about 29 billion) in building, US 6 million (around 15.4 billion) in health, and US 24.5 million (roughly 62.8 billion) in agricultural.