USD69m for Gabon renewable energy
GABON| 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 GABON NEWS
Airtel, Ericsson extend partnership with LTE deployment in GabonAirtel Gabon has partnered with Ericsson for the deployment of next generation LTE technology and mobile network transformation. Read More
Kaspersky Lab, Gabonese Government to Cooperate on IT SecurityKaspersky Lab has signed a memorandum of understanding with the National Agency of Digital Infrastructures and Frequencies (ANINF) in Libreville, Gabon. Read More
Bharti Airtel names new director for key regionBharti Airtel has announced the appointment of Wim Vanhelleputte as the new Executive Director for one of its key business regions. Read More
Global ICT policy community meets in GabonSome 400 senior international policy makers from the world’s ICT regulatory authorities and leading tech companies are meeting in Gabon this week to discuss the best strategies for promoting digital inclusion and harnessing the enormous growth potential of emerging economies and developing markets. Read More
Airtel Africa partners with GSR 2015Airtel is partnering with the 2015 International Telecommunication Union Global Symposium for Regulators (GSR), which gets underway today in Libreville, Gabon. Read More
World telecom regulators to meet in Libreville in JuneA total of 130 telecommunication regulators out of the 193 member states of the International Telecommunication Union (ITU) will meet in the Gabonese capital in June. Read More
Gabon hit by internet disruptionsInternet connections are back in Gabon after three days of black out - a mystery telecommunication authorities and operators seem unable to explain. Read More
Gabon Telecom, union showdown far from overThe showdown between Gabon Telecom (GT) and SYNATEL, the union of telecommunication workers, is far from over despite the court’s warning and the government’s intervention. Read More
Gabon Telecom, City of Libreville sign transport partnershipGabon Telecom (GT) and the City of Libreville ('Mairie de Libreville') this week signed a transport partnership that will see all the taxis operating in the capital have thumbnails stamped on their doors in orange colours of the telecom giant. Read More
FEATURED STORYViber Spreads Good Vibes in Africa with the introduction of public chats
Viber, one of the leading messaging and calling apps with more than 664 million unique users worldwide, has opened its latest social channel ‘Public Chats’ to partners in Africa and the Middle East.
BEST READ NEWS
IN DEPTHPoised for greater heights – Roshi Motman, AfricaCom CEO of the Year Winner
Roshi Motman is not your average CEO. Since taking up the reins as the first female CEO of Tigo Ghana in 2014, she has led the Tigo brand through a remarkable transformation.