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

comments powered by Disqus

MORE DEVELOPMENT NEWS

Airtel supports Mathare slum youth

Airtel is ensuring that over 800 school children get hot meals every day and that 32 teachers receive their monthly salaries. Read More

ENhANCE project improves ICT education in East Africa

Aalto University has launched the ENhANCE project, which has seen them team up with institutions in Ethiopia and Tanzania to provide the technical and educational support that can help address the challenges faced by these countries. Read More

College joins tech world with new courses

New Era College of Arts, Science and Technology has introduced two new degree programmes “to respond to the skills shortage in Botswana’s business economy,” said Gagan Chawlar, the college’s communications person.  Read More

Technology transfer to boost water supply and sewerage services

As part of the African Development Bank’s efforts to increase the transfer of technologies and skills to the African continent, Malinne Blomberg, Chief Financial Analyst in AfDB’s Water and Sanitation Department, joined the wide range of stakeholders including technology providers, venture capitalists, private equity firms, and engineering, procurement ... Read More

Airtel Ghana walks the talk on women’s empowerment

Her Excellency Nana Konadu Agyeman – Rawlings with Lucy Quist, MD of Airtel Ghana Airtel Ghana has earmarked March as International Women’s Month under the theme, “Make it Happen!”  Read More

MTN to fund 100 libraries in Congo Brazzaville

MTN says it will fund 100 libraries in Congo Brazzaville nationwide in 2015 as part of its ‘Y'ello 100 libraries for all’ project. Read More

AccessKenya pledges Kes7.2m for ICT in education

AccessKenya Group has earmarked Kes 7.2 million over the next two years to support the use of technology in the delivery of education in the country. Read More

Airtel Kenya supports Murang’a School for the deaf

Bharti Airtel has commissioned new toilet facilities at Murang’a School for the deaf in Murang’a County, Kenya with an aim of improving learning environment for students.     Read More

School children in Nakuru to learn more with Airtel’s Free Internet for Schools programme

Airtel Kenya has connected Koinange Primary School in Nakuru County to the internet for free.  Read More

Orange Kenya in solar lighting partnership

Orange and GreenLight Planet, a US based company that delivers affordable energy to off-grid consumers, have signed a strategic partnership to provide affordable solar lighting to Kenyan homes in areas that have limited access to electricity, through the use of solar lamps with a USB charging mechanism.   Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

2bn priced out of internet access2bn priced out of internet access

A new report from the Alliance for Affordable Internet shows that the price of broadband remains prohibitive for billions in developing and emerging countries, with women and rural dwellers hardest hit.

IN DEPTH

Villagers get solar training at Barefoot College Villagers get solar training at Barefoot College

The Botswana Human Resource Development Council (HRDC) has seconded seven semi-illiterate mostly Ngwatle villagers for a six month solar electrification training course at the famed Barefoot College in India. 

COMPANY NEWS

MTN Group Sustainability Report released

MTN Group’s efforts to advance social development in its markets through the integration of sustainable business practices into day-to-day activities, is yielding positive outcomes, the company’s Sustainability ...