Project: Construction of a 100 MW gas-fired power station on a turn-key basis

In the last two years, prolonged periods of drought have severely impacted energy supply in Tanzania which is heavily reliant on hydro power. This has resulted in persistently power rationing across the country, affecting both the general population as well as the business community. Demand on the other hand continues to grow at rates as high as 10-12% annually according to estimates, driven in part by increased activity in the mining sector.

The Government of Tanzania has had to seek external funding on behalf of its power utility TANESCO in order to enable the utility diversify into natural gas as alternative sources of energy. Natural gas has gained currency as the next frontier for Tanzanias energy sources following its discovery a few years ago. ATI supported one such transaction by extending reinsurance to a European Export Credit Agency for its guarantee to a top global bank that offered TANESCO the much needed financing.

Maximum Sum Insured: $102 million