USD69m for Gabon renewable energy
DEVELOPMENT| July 21, 2012, 1:52 p.m.
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.
MORE DEVELOPMENT NEWS
Samsung leaves legacy of hope in UgandaNsangi Secondary School in Uganda’s Wakiso District has received a Solar Powered Internet School from Samsung. Read More
Botswana takes its atomic and nuclear energy stance to world stageRecently, Botswana’s Minister of Science and Technology Nonofo Molefhi addressed the rare and august gathering of the members of the International Atomic Energy Agency (IAEA) to convey Botswana's plans for the sector. Read More
MTN, Ericsson announce e-waste disposal partnership in Côte D’IvoireEricsson and MTN Côte d’Ivoire have announced a partnership to drive the awareness and collection of electronic waste (e-waste). Read More
Innovative designer takes e-waste to another levelGladys Muyenzelwa is a Gaborone based artist and designer who has an eye for ethnic and contemporary design. But unlike other designers, Muyenzelwa has found a way of using e-waste to make her creations. Read More
Barefoot college grads get ‘stately’ welcome homeA team of women has returned home to Botswana after a six-month mission to learn solar technology skills in India. Read More
BDC supports clean energy for sustainable growthBotswana Development Corporation (BDC) continues to lead the charge in driving debate and provoking impactful ideas on how to champion increased sustainability. Read More
Venmyn Deloitte predicts shift to more decentralised power generationWith the Southern African power pool facing a net power deficit, Venmyn Deloitte says coal-fired energy will continue to remain relevant. Read More
Huawei, SATA to drive ICT development through partnershipHuawei has signed a Memorandum of Understanding (MoU) with the Southern Africa Telecommunications Association (SATA). Read More
Safaricom, USIU launch student mentorship programmeSafaricom has partnered with USIU–Africa to launch a one-year mentorship programme that will see students undertaking various degree courses at the university paired with mentors from the telecommunications company. Read More
FEATURED STORYInnovative designer takes e-waste to another level
Gladys Muyenzelwa is a Gaborone based artist and designer who has an eye for ethnic and contemporary design. But unlike other designers, Muyenzelwa has found a way of using e-waste to make her creations.
BEST READ NEWS
IN DEPTHHigh tech homes: Just press play
High tech, digital homes where everything is automated and connected aren’t the stuff of science fiction any longer, says BNC Technology.
COMPANY NEWSLuba Freeport streamlines its sea of paper with Sage X3
Luba Freeport has implemented the Finance and Distribution modules of the Sage X3 business management solution to automate its business processes across finance and operations.