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Have a character who knows Force Lightning, and has enough Force Points to throw it four times.
On the way into the underground base, in the room just before the hangar,
there is a room with a lab bench and a workbench. Stop off at the
workbench and have the character with the best Security skill in the party
make you the best energy shield you can manage. Alternatively, if you've
picked up any good energy shields (such as the Arkanian shield) as loot, equip one of those on the character who knows Force Lightning.
Go through the base, activate the reactor, and head back towards the hangar
bay. Some distance away from the hangar, switch to the character who has
the energy shield and the Force Lightning power. Enter solo mode, to leave
the other two characters behind out of the danger zone. Activate the
energy shield and go run into the hangar and into melee range on the tank
droid. At that distance, the tank droid will mostly use its flamethrower
on you, not its grenade launcher. The energy shield should help you
survive enough flamethrower shots for you to have time to hit it with about four repetitions of Force Lightning.
After that, the tank droid should either be dead or (if it made its save a
couple times) well on the way to being dead. If it's not dead yet, have
your character (who should be around or under half his health by now) reactivate his shield, pop a couple advanced health packs, and finish it
off. Alternatively, you could have the wounded character flee back down
the hall, switch to a fresh character, and have him come back to deliver the coup de grace to the wounded tank droid... or else just wait for your Force Points to recharge and then come back and throw a couple more Force Lightnings.
I used a simple three-step process to defeat Tank Droid with relative ease. Make sure Kreia has the Stun Droid power, and give your main character Revitalization. Turn on Solo Mode before entering the hanger. Send Kreia in alone.
Step One: As Kreia, stun the droid as many times as you can before you black out. You have the Revitalization power, so losing Kreia isn't a permanent problem.
Step Two: Switch over to your main character and use Revitalization. Kreia will stand back up. You'll want to pause the game at this point so the Tank Droid wouldn't have time to react. Run Kreia to the other side of the ship so the droid won't attack.
Step Three: Out of combat, Kreia will soon regain Force and Vitality Points (using Force Powers and medpacs). Once she does, return to Step One and repeat the process until you defeat the droid.