An initial $5.5 million of capital will be allocated to finance the Tanzanian minigrid projects, which it’s anticipated will for the first time deliver sustainable energy access to 34,000 people in rural homes and businesses across the country. That marks the first time that a long-term project finance platform is being used to finance the development of rural minigrids in Africa, CBEA highlights.
PowerGen has emerged as leader in Africa’s fledgling minigrid development sector. The company is said to have connected over 50,000 people to smart, clean minigrids, CBEA notes. Like its peers, it continues to struggle to attract long-term project financing, however.
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