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Tanzanian politics continues to hamper energy sector investment
Symbion Power Tanzania Ltd, which is in dispute with Tanzania Electric Supply Company (Tanesco) over the 112MW Ubungo gas power plant, has notified the Tanzanian government that, if no settlement can be agreed by 10 May 2018, arbitration proceedings will begin at the World Bank’s International Centre for Settlement of Investment Disputes (ICSID), African Energy has learned. The company has already begun an arbitration case at the International Chamber of Commerce (ICC) in Paris, claiming $562.41m in lost capacity payments, interest, and future payments over the course of a 15-year power purchase agreement.
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