In order to speedup the investment process in the energy sector in Tanzania, the Energy and Water Utilities Regulatory Authority (EWURA) has announced its draft model for all contracts.
As explained by EWURA’s Director General, Mr Felix Ngamlagosi, most foreign investors negotiate on the basis of their draft agreements, resulting in lengthy negotiations.
The new energy draft model agreement will allow parastatal Tanzania Electric Supply Company Limited (TANESCO) to be in a better position to negotiate with investors, resulting in less time wasted and a reduction in the cost of projects, Ngamlagosi said.
The initiative is in line with EWURA’s mandate to create of a level-playing field for investors in energy and water utilities in Tanzania.
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