Tanzanian billionaire Rostam Aziz to build $140-million solar project in Zanzibar

Taifa Energy, a company owned by Tanzanian billionaire Rostam Aziz, and General Capital Limited, a Mauritian-based firm, on Monday signed a partnership with the state-owned Zanzibar Electricity Corporation (Zeco) to build a utility-scale solar photovoltaic (PV) project on the island that will contribute 180 megawatts to the island’s grid.

Zeco will be the off-taker of the electricity that will be produced.

Speaking at a ceremony to mark the signing of the agreement, Joseph Kilangi, permanent secretary of Tanzania’s Energy and Minerals Ministry, said the project will be carried out in phases.

“The project will be built in phases and will commence with the expedited construction of a 30 MW solar PV power plant at Bambi, Central District in South Unguja Region, that will be completed in 2024,” he said.

The project, expected to cost $140 million, will be developed as a joint venture between GCL and Taifa Energy. Aziz, the chairman of Taifa, stated that the endeavor is a historic cooperation with ZECO because it is the first utility-scale solar PV project in Tanzania. He applauded the Zanzibar Investment Promotion Authority for designating strategic investor status on GCL with all the rights and privileges that come along with it.

He said the project is expected to be fast-tracked for its jobs and sustainable development impact in critical areas where reliable and inexpensive power supply is a significant demand, with phase one scheduled to be completed by late next year.

The project will begin with the rapid development of a 30 MW solar PV power plant in Bambi, Central District, in the South Zanzibar region.

This project represents a significant milestone in our commitment to renewable energy development in Zanzibar and the continent as a whole,” Aziz stated.

Aziz, one of Tanzania’s wealthiest men, has tentacles in telecoms, aviation, mining, real estate, and port management.