USD69m for Gabon renewable energy

DEVELOPMENT

|
Image: By BiztechAfrica
USD69m for Gabon renewable energy

The Board of Directors of the African Development Bank (AfDB) Group, through its private sector window, has approved a senior loan of USD69 million (€57.5 million) to the Coder Hydropower Project for the design, construction and operation of two run-of-river hydro projects in Ngounie Province and North Gabon. 

The project consists of two run-of-river hydroelectric power plants, a 70 MW plant in the Ngounie Province and a 52MW plant in north Gabon.

Despite a high electricity access rate of up to 83%, the Gabon electricity sector still faces frequent electricity shortages and blackouts resulting from high urbanization.

Gabon’s current power shortages hinder the country’s economic and social growth, making it a high governmental priority to revitalize the electricity supply and lower electricity prices.The government's goal is to increase generating facilities from 373 MW to 1200 MW by 2020.

The current electricity production is split about 50:50 between hydro and diesel oil and Gabon also want to cut environmentally unfriendly and costly diesel power generation.

The project, with a two-year completion target, will provide electricity to the national grid as well as providing security of supply to rural areas. The completion of this project is crucial for Gabon as it will allow the country to boost its economic growth.

The main development outcomes stem from the addition of 122 MW of renewable energy will increase the current national production capacity by about a third.  It is also expected to help catalyze an additional 300 MW of hydro development in the next few years, out of Gabon’s total hydro potential of 5000 MW. 

The planned electricity generation of this plant is expected to save 530,000 tons of CO2 emissions per year. Moreover, as the first independent power project in a country with a transnational transmission line, Coder will strongly stimulate private sector development in Gabon and will create critical infrastructure to enable future regional inter-connections.

Neside Tas Anvaripour, head of infrastructure finance and PPP at the AfDB said: “The project will deliver base-load energy at a highly competitive price, thereby helping Gabon diversify away from fossil fuels. Further, the project will lead to the creation of hundreds of jobs during the construction and operation phases. The increased capacity will reduce blackouts and thus improve the efficiency and competitiveness of business activity in Gabon. The additional capacity will also expand electricity access to rural areas". 

The project is squarely in line with Gabon’s national power and development strategy, which emphasizes infrastructure development. The Gabonese government will benefit from substantial increases in revenues directly and indirectly from the economic growth stimulated by the Coder project. 



Share the News

Get Daily Newsletter

Search News

comments powered by Disqus

MORE DEVELOPMENT NEWS

Networks Unlimited continues to give back

Commemorating Nelson Mandela Day, Networks Unlimited, a value-added distributor, donated blankets to the South African Family Relief Project (SAFRP).  Read More

Bocodol Strategy 2020 to advance technology uptake

The new 2016 to 2020 Botswana College of Distance and open Learning Strategic Plan is a testament of the institution’s move towards an embedded e-learning regime.  Read More

Equity of trust essential for improving productivity – Tigo Barcamp 2016

Ghana’s digital lifestyle brand, Tigo, has urged young entrepreneurs and graduates to establish trust in their profession in order to boost productivity.  Read More

Entrepreneurship programme targets 5,000 students

Enactus Kenya director James Shikwati, Dr Risper Orero and Prof Edwin Wamukoya Enactus Kenya, an organization that promotes entrepreneurship among youth, aims to empower 5,000 students in Kenya with business leadership skills.   Read More

Ericsson Networked Society City Index 2016 measures ICT maturity in Johannesburg and Lagos

Although starting at a low level, Johannesburg and Lagos are progressing in all ICT dimensions of the Ericsson Networked Society City Index.   Read More

Etisalat: Manpower development vital to sustaining telecoms revolution gains

Etisalat says continuous development of indigenous skilled manpower is central to the sustainable growth of the telecoms industry. Read More

Networks Unlimited provides learnerships to 100 ICT students

Anton Jacobsz, MD Networks Unlimited with Ingrid Mulaudzi, Networks Unlimited Marketing Intern One hundred technical students are set to graduate from an immersive, 12-month learnership programme within Networks Unlimited, with the skills, experience and certifications needed to kick-start their careers.   Read More

MTN half-marathon raises funds for ICT in education

MTN’s third edition of the annual MTN 21km half-marathon has been growing steadily since inception and this year the race has boasted just over 6100 participants.  Read More

IFC, CGAP, SECO to launch Ghana Digital Financial Services Initiative

The International Financial Corporation (IFC), a member of the World Bank Group, in partnership with the State Secretariat of Economic Affairs of Switzerland, SECO, and the Consultative Group to Assist the Poor, CGAP, will be launching a US$5.6 million Ghana Digital Financial Services Initiative in Accra.  Read More

MTN employees mark 10 years of volunteerism in their communities

MTN has kicked off the tenth edition of its flagship annual employee volunteerism programme, 21 Days of Y’ello Care. Read More

PRESS OFFICES

Sage EnterpriseSAP AfricaTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4AfrikaNetworks UnlimitedArbor NetworksEricssonTigo Ghana

FEATURED STORY

First-ever Africa Barclays Accelerator programme concludesFirst-ever Africa Barclays Accelerator programme concludes

Ten fintech companies have concluded the first-ever Barclays Accelerator, powered by Techstars in Africa.

 

IN DEPTH

Ethical Hacking students can’t get a heck of a jobEthical Hacking students can’t get a heck of a job

Botswana ethical hacking students report that they are failing to break into the local job market.