Power: DBSA to fund Tanzania plants

The Development Bank of Southern Africa (DBSA) was lending Tanzania $314 million (R3.2 billion) for two power plants, South Africa’s Treasury said yesterday, as the east African country looks to tap more of its abundant gas reserves. The state-owned lender had underwritten $227m for the construction of the Kilwa power plant and another $87m for a 240 megawatt gas-fired plant at Kinyerezi, the Treasury said. Despite its abundant gas reserves, Tanzania is heavily reliant on hydroelectric capacity and fuel-run generators. – Reuters