Meridiam Completes Acquisition of Rift Valley Energy, Strengthening Clean Energy Portfolio in Tanzania
Infrastructure investor, Meridiam, has successfully concluded the acquisition of Rift Valley Energy Tanzania (RVE), an infrastructure platform with a 30-MW renewables portfolio and rural distribution grids in Tanzania. The purchase was made from Rift Valley Corporation, an agricultural investor focused on South-Eastern Africa, for an undisclosed amount.
Rift Valley Energy Tanzania’s portfolio encompasses two operational hydroelectric plants in the Southern Highlands, wind turbines generating 7.3 MW of power, and two hydro power projects currently under construction. Additionally, the company has developed two rural distribution networks spanning 460 kilometers, serving over 75,000 people across 38 villages in southern Tanzania.
Meridiam aims to support RVE in its project development initiatives and further expand rural electrification efforts in Tanzania. The acquisition strengthens Meridiam’s clean energy presence in the region, complementing recent investments in 250 MW wind and solar projects in Kenya and the ongoing construction of a 150 MW geothermal plant in Ethiopia.
Opinion:
The acquisition of Rift Valley Energy Tanzania by Meridiam marks a significant step towards bolstering clean energy initiatives in Tanzania. With an established portfolio of hydroelectric and wind projects, as well as ongoing developments, the move aligns well with Meridiam’s commitment to advancing the ecological transition in Africa. As the demand for renewable energy surges in the region, this strategic acquisition positions Meridiam to play a crucial role in transforming Tanzania’s power mix and contributing to sustainable development. The move supports Meridiam’s ambition to drive the ecological transition in Africa and transform Tanzania’s power mix.