M a r k e t N e w s
Tanzania: Huge scope for investment in Untapped Renewable Energy
Posted on : Thursday , 9th July 2015
Renewable energy is one of the most untapped sectors in the country. This was said in Dar es Salaam yesterday by an official with the German firm, the Organisation for Development Cooperation (GIZ), Mr Josephat Focus, at the ongoing Dar es Salaam International Trade Fair (DITF).
"There are still huge potentials unexplored in the renewable energy that business community could capitalise and give them maximum returns on investment," he said adding the huge potential is supported on the fact that below 30 per cent of Tanzanians are connected electricity.
He pointed out that although currently the country has huge natural gas, thermal and other depleting energy sources, the future requires that the state owned utility invests in wind and solar energy.
He said GIZ is a company that links German business community in renewable energy with their counterparts in Tanzania to look at areas of investment.
He said renewable energy is the most reliable and sustainable for the future after current traditional energy sources such as coal, oil and natural gas are depleted.
He said for example Dar es Salaam city and other city centres in the country produce thousands of tonnes of garbage and other wastes which are thrown away and sometime causing chaos if remain uncollected for a long time. However, he said this is an area for which business people may capitalise assuring them of super profits.
The cost to be incurred is the investment in the technology machines to RENEWABLEbe used for processing the garbage into energy. In developed world, investment in renewable energy is one of the biggest businesses where most business people have invested their resources.
For example in Sweden has been producing renewable energy from garbage and one of the interesting story is that they have reached a point of importing garbage as raw materials from other countries.
The newly established Energy Sector Support Programme began operations in 2013. GIZ's contribution focuses on renewable energy and energy efficiency.
Advisory services on energy sector regulation are intended to improve the framework for the future energy mix and increase private sector engagement.
Source : allafrica.com
