Dar es Salaam. The European Union (EU) has reaffirmed its commitment to supporting Tanzania’s energy sector.
It says closer cooperation between the government, private sector, financial institutions and development partners is essential to mobilise financing for major energy projects.
Speaking during the Energy Day forum held alongside the 49th Dar es Salaam International Trade Fair (Sabasaba), the EU’s Energy Project Manager, Massimiliano Pedretti, said electricity generation, transmission and distribution projects require substantial investment that governments cannot finance alone.
He said stronger partnerships are needed to attract capital and ensure strategic energy projects are implemented on schedule.
Pedretti said the EU continues to support Tanzania’s energy sector through capital grants for smaller energy projects.
It also helps identify and facilitate financing solutions for large-scale strategic investments that require significant funding.
He encouraged private sector investors to take advantage of the available opportunities by preparing high-quality project proposals that address the country’s energy challenges.
According to him, well-prepared proposals stand a better chance of securing financial support after meeting the required assessment standards.
Pedretti also said the government has a key role in maintaining policies and a business environment that encourage investment in the energy sector.
He urged financial institutions to develop innovative financial products and services that improve access to capital for energy investors.
He noted that international financial institutions and development partners remain willing to finance energy projects in Tanzania.
However, he stressed that successful financing depends on projects being prepared to internationally accepted standards, supported by sound governance systems and implemented within a stable investment environment.
Pedretti said strengthening cooperation among the government, private investors, financial institutions and development partners would attract greater investment into the energy sector.
He added that such collaboration would accelerate the implementation of strategic projects, expand access to reliable energy and contribute to Tanzania’s long-term economic growth.
The forum formed part of activities organised during the annual Sabasaba trade fair, which brings together policymakers, investors, businesses and development partners to discuss opportunities across key sectors of the economy, including energy, manufacturing and infrastructure.
