Dar Eco Circular
Investor Information

Investment in Tanzania's Circular Future

A bankable, DFI-ready infrastructure PPP — diversified revenue, ECA-eligible, and climate-aligned for institutional and development finance.

Project Finance at a Glance

1.25×
Min DSCR Covenant
Senior debt service cover
14–18%
Project IRR
Base case, USD real
18–22%
Equity IRR
Leveraged sponsor returns
8–10 yrs
Payback Period
From first operations
$800M+
CAPEX
Full facility, all phases
25 years
Operational Life
With major maintenance cycles

Why Invest in Dar Eco Circular

Bankable & Diversified Revenue

Six distinct income streams — tipping fees, energy, fertiliser, leases, carbon credits, and recyclables — reduce single-revenue concentration risk.

Sovereign-Backed Demand

Long-term waste-supply agreements with DLGA and five Municipal Councils under Cap 103 R.E. 2018 PPP Act provide contractual revenue certainty.

Climate Finance Eligible

The project avoids 1.1M tCO₂e annually — qualifying for GCF, GEF, and Article 6 carbon credit monetisation as additional revenue.

ECA-Eligible Technology

German MBT and EU-manufactured WtE equipment qualifies for European Export Credit Agency financing at concessional terms.

Strong Blended DSCR

Multi-SPV ring-fenced structure with blended platform DSCR well above 1.25× DFI covenant — strong SPV1 and SPV2 CFADS absorb development-phase SPV3.

SEZ & Industrial Anchor

1,000-acre Eco-Industrial Park in Kigamboni SEZ with dedicated utilities, renewable power, and circular material supply — attracting ESG-aligned tenants.

Ring-Fenced SPV Structure

The project is structured as three ring-fenced Special Purpose Vehicles with a HoldCo consolidation layer — standard DFI architecture allowing independent lender security and blended platform financing.

SPVRevenue AnchorEst. DSCRDebt StructureRole
SPV 1 — Transfer & ACoD NetworkMunicipal tipping fee contracts2.0× (est.)AFC/AfDB senior + ECABankability anchor
SPV 2 — Waste-to-Energy PlantTANESCO PPA + SEZ off-take1.6× (est.)AfDB + KfW + ECAECA-heavy structure
SPV 3 — Eco-Industrial ParkLease income + utility concessions1.3× (est.)Equity-led + IFC facilityGrowth upside
Platform (HoldCo)Consolidated all SPVs~1.6× blendedAFC lead arrangerAFC / DFI layer

Six Revenue Streams

Tipping Fees

Municipal contracts for gate fees on MSW delivered to the IWF — sovereign-backed, inflation-linked

Energy Sales

50–100 MW electricity sold to TANESCO national grid and Kigamboni SEZ off-takers under PPA

Fertiliser & Compost

50,000 t/yr of organic fertiliser sold to peri-urban agriculture and export markets

Industrial Park Leases

Eco-Industrial Park land and utility concessions to green-sector tenants in the 1,000-acre SEZ

Carbon Credits

Article 6 compliant credits from avoided methane, displaced fossil electricity, and RDF displacement

RDF & Recyclables

Refuse-Derived Fuel sold to cement producers; recovered materials sold to domestic manufacturers

Blended Finance Architecture

A 70/30 debt-equity split structured for DFI bankability — senior debt from African Development Finance Institutions, ECA tranche from European Export Credit Agencies, climate concessional layer, and sponsor equity.

40%
Senior DFI Debt
AFC / AfDB / KfW — 7.5%, 15yr, 3yr grace
20%
ECA Tranche
European ECA — 5.5%, 18yr, parallel to senior
10%
Climate Finance
GCF / GEF / CIF concessional grant & soft loan
30%
Sponsor Equity
Viability Gap Plc, GEFCO Invest, N-Gas Ltd

DFI Engagement Status

AFC (Africa Finance Corp)
Lead Arranger under engagement
AfDB / KfW
Identified co-financiers
European ECAs
Pre-qualification in progress
GCF / GEF
Climate finance preparation

Capital Stack — $800M+ Total

70% debt, 30% equity. Each tranche is ring-fenced per SPV with cross-collateralisation at HoldCo level.

40%Senior DFI Debt — AFC / AfDB / KfW
~$320M
20%ECA Tranche — European ECAs
~$160M
10%Climate Finance — GCF / GEF / CIF
~$80M
30%Sponsor Equity — Consortium
~$240M
25 years
Concession Term
Renewable on mutual agreement
2026
Financial Close Target
Subject to regulatory approvals
2027–28
First Operations
Phased commissioning, SPV 1 first

Technology Partners & Consortium

ECA eligibility rests on European-origin equipment. Our technology stack combines proven German MBT, European anaerobic digestion, and verified WtE thermal recovery.

Mechanical Biological Treatment (MBT)

Origin: Germany
Standard: EU IED Directive compliant

Pre-sorting, shredding, and organic separation before ACoD

Anaerobic Co-Digestion (ACoD)

Origin: Germany / Netherlands
Standard: ISO 15985 biogas standard

Converts organics + faecal sludge to biogas and digestate compost

Waste-to-Energy (WtE) Thermal

Origin: China (Changzhou Xinbei)
Standard: EU-verified emissions standards

1,500 t/day moving-grate incinerator with energy recovery — 50–100 MW

Eco-Industrial Park Infrastructure

Origin: International
Standard: LEED / ISO 14001 target

Dedicated power, water recycling, and circular material flows for SEZ tenants

Information Memorandum

Request the Full Investment Package

The IM covers project structure, financial model summaries, SPV term sheets, ESG framework, regulatory status, and data room access for qualified investors and DFIs.

ESG & SDG Alignment

SDG 7

Affordable and Clean Energy — renewable power for grid and industry

SDG 8

Decent Work — 10,000+ green jobs, gender-responsive employment

SDG 11

Sustainable Cities — clean streets, reduced dumping, urban resilience

SDG 12

Responsible Consumption — material recovery, closed-loop production

SDG 13

Climate Action — 1.1M tCO₂e avoided; Paris Agreement aligned

SDG 17

Partnerships — Government, DFI, private sector co-investment

Ready to Explore the Investment Case?

We welcome DFIs, institutional investors, development banks, ECAs, and strategic partners. Contact us to receive our Information Memorandum and project data room access.