No, the project doesn’t represent a shift for the agriculture-focused impact investor.
The 1.5-megawatt Suma Hydro project in southwest Tanzania will power a local tea factory and bring electricity to 700 nearby households and businesses.
AgDevCo, a UK-based social impact agribusiness investor, is committing $2.5 million to the power plant, which is already under construction. The project is part of an initiative by the Global Environment Facility called “Greening the Tea Industry in East Africa.”
The plant’s output could eventually be increased to 5 megawatts.