DODOMA: THE Tanzanian government is seeking to unlock private-sector investment in renewable energy projects through a partnership with the African Trade and Investment Development Insurance (ATIDI), as Tanzania targets 8,000 megawatts of electricity generation by 2030.
This was discussed in a meeting between the Ministry of Energy with ATIDI representatives in Mtumba, Dodoma, on Wednesday which discussed ways to improve access to financing and reduce investment risks facing private companies seeking to develop renewable energy projects.
Speaking at the meeting, Commissioner for Electricity and Renewable Energy, Engineer Innocent Luoga, said achieving the national generation target requires stronger collaboration with private investors to accelerate the implementation of energy projects.
“The ministry’s goal is to ensure that we reach 8,000 megawatts of electricity. There is still room for us to work with ATIDI to enable private companies to contribute to advancing the implementation of various energy projects in the country,” he said.
In addition, Mr Luoga said cooperation with ATIDI will help address capital constraints facing private companies interested in renewable energy investments, opening up more opportunities for investment and supporting the government’s electricity generation ambitions.
ATIDI delegation leader Obbie Banda said the institution aims to support Africa’s development by reducing investment risks and attracting affordable capital through partnerships with governments and the private sector.
“Our mission is to contribute to development by improving investors’ perception of investment risks in Africa and attracting affordable investment through cooperation with African governments and the private sector,” he said.
ATIDI provides insurance solutions designed to mitigate commercial and political risks, helping build confidence among investors and lenders financing development projects across Africa.
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