Our investment is expanding Tanzania’s renewable energy supply – connecting thousands of homes and businesses to the grid for the first time.
Millions of people in Tanzania do not have access to energy. The national electrification rate in Tanzania is 48 per cent and as low as 28 per cent in rural areas. This lack of access to power greatly impacts people’s ability to access essential services and limits their life opportunities.
In 2024, we signed an agreement to provide an initial $15 million, with the potential to increase this to $25 million, to renewable energy platform Rift Valley Energy, which is owned and managed by Meridiam. The funding will support part of Rift Valley Energy’s ambitious investment and development plan for utility-scale renewable energy projects in Tanzania.
The funding will finance the installation of an additional 7.6MW of renewable energy for Tanzania’s national grid. This will provide energy to about 170,000 people per year and connect 4,000 businesses and households to the grid for the first time. Clean and affordable power will be made available to local industries, including factories that process tea, veneer and timber, and is expected to create more than 1,800 jobs. The sustainability impact will also be significant, with up to 17,000 tonnes of CO₂ emissions avoided per year by the end of 2027.
