British International Investment Commits USD 15 Million to Rift Valley Energy for Tanzanian Renewable Projects

(BII) has announced a commitment of USD 15 million (EUR 13.9 million) to Rift Valley Energy (RVE), a platform in Tanzania. The funding is intended to support the financing and installation of new wind and projects totaling 7.6 megawatts (MW).

In a statement released on Tuesday, the UK's development institution highlighted the potential for the support to increase to USD 25 million. The targeted projects will be situated near RVE's existing run-of-river hydropower assets and the Mwenga Wind farm, currently Tanzania's sole operational wind facility.

Once operational, these grid-connected projects are expected to supply electricity to approximately 170,000 people annually and enable the connection of 4,000 businesses and households to the power grid.

RVE, a Tanzanian renewable energy company owned by Paris-based investor and asset manager Meridiam, manages a portfolio of 30 MW of renewable energy projects. Its subsidiary, Mwenga Power Services, operates extensive rural distribution networks spanning 460 kilometers (285 miles).

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