Loading grant details…
China Eximbank agrees in principle to provide $136 million loan for Singida Wind Power Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Geo Wind Power Tanzania Limited (Geo Wind) |
| Country | Tanzania |
| Start Date | Dec 16, 2011 |
| End Date | Mar 31, 2027 |
| Duration | 5,584 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 36082 |
Grant Description
China Eximbank agrees in principle to provide $136 million loan for Singida Wind Power Project According to a 2014/2015 Audit Report of Public Authorities and other Bodies from the Tanzania National Audit Office (p. 139-140), on December 16, 2011, after a successful feasibility study and the completion of an environmental impact assessment (EIA) by Power Pool East Africa, Tanzania's Ministry of Energy and Minerals formally asked theTanzania's Ministry of Finance (MOF) to submit a concessional loan request to China Eximbank for $136 million to finance the Singida Wind Farm Project.
On January 5, 2016, the Tanzania Ministry of Finance wrote a letter to inform various Geo Wind stakeholders that the Government of Tanzania decided not to issue a sovereign guarantee for the China Eximbank loan and therefore the National Development Corporation (NDC) would need to look for other financing alternatives.
On February 7, 2013, National Development Corporation (NDC), Tanesco, and Power Pool East Africa Limited created a special purpose vehicle (SPV) called Geo Wind Power Tanzania Limited to implement this project.
NDC owns a 60 percent ownership stake in the company, Tanesco owns 20 percent, and Power Pool East Africa Limited also owns a 20 percent ownership stake.
The purpose of the Singida Wind Power Project is to establish a 100MW solar farm to supply energy to Tanzania's national grid.
It is located at Unyianga Village, 14km West of Singida Municipality along the Singida-Mwankoko Road, some 700 km from Dar es Salaam in central Tanzania.
Sources & References
- Ex-Im Bank of China backs 50-MW wind project in Tanzania
- Chinese give $136m for Tanzania wind bid
- Chinese give $136m for Tanzania wind bid
- Sustainable electricity pricing for Tanzania
- Power Production, 50 MW Wind power project in Tanzania to cost more than US$ 132m
- Mega wind power project pencilled for Singida
- RE: SUBMISSION OF THE ANNUAL GENERAL REPORT OF THE CONTROLLER AND AUDITOR GENERAL ON THE AUDIT OF PUBLIC AUTHORITIES AND OTHER BODIES FOR THE FINANCIAL YEAR 2014/2015
- China Export-Import Bank Provides $136 Million For Tanzania Wind Project
- Infrastructure Financing Trends in Africa - 2014
- SADC investment yearbook Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Geo Wind Power Tanzania Limited (Geo Wind)
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
