The European Investment Bank (EIB) will offer a $135-million loan to co-finance a new 667 km high voltage transmission line.
The line, running between Iringa and Shinyanga, will be built by the Tanzania Electricity Supply Co. (TANESCO) in hopes of furthering the Tanzania Backbone Interconnector Project that aims to improve electricity transmission from existing and future generating sources. As part of the national grid reinforcement strategy set by Tanesco, the project will transfer hydropower generated in the south of the country to northern Tanzania.
The line, with a total cost expected to run around $526 million, will eventually support the interconnectivity schemes currently underway in the East African Power Pool and Southern African Power Pool. EIB head of East Africa Kurt Simonsen said, “Renewable energy supports sustainable development and social inclusion promotes cohesion. This is a good project for Tanzania.”
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