Several potential investors have shown strong interest in 600 MW gas-to-power project in Mtwara, Tanzania, run by a US-based Company, Symbion Power, AllAfrica reported.
The Mtwara project will allow Tanzania to start exporting electricity to nearby countries such as Malawi, Kenya, Uganda, Zambia, and Northern Mozambique, once technical and financial elements of the project are finalized.
Symbion anticipated that the project would be financed with a mix of debt and equity, after more meaningful financing negotiation begin in 2016.
The Mtwara project represents Symbion’s Private Public Partnership with Tanzania Electric Supply Company (Tanesco). Tanesco will be the sole off-taker, but large-scale industrial developments will also benefit from the access to the increased electricity output generated by the Mtwara power plant.