USD69m for Gabon renewable energy

GABON

-
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 GABON NEWS

Ghana’s Bright Simons appointed to Microsoft Africa Board

Congratulatory messages continued to pour in on social media platforms on Thursday, following the appointment of Ghana’s Bright Simons to the Microsoft 4Afrika Advisory Council. Read More

Gabon gives away free domain names

Gabon has liberalised its national domain and is giving its .GA domain names away for free.  Read More

Air France partners with airtel Money

Bharti airtel has signed a partnership Agreement with Air France which will enable customers to purchase flight tickets from the French airline via airtel Money. Read More

Gabon Telecom cuts prices

Gabon Telecom has announced tariff cuts across its voice and data offerings. Read More

Gabon Telecom partners with Mahindra Comviva

Mahindra Comviva has partnered with Gabon Telecom to enhance its Mobi Cash mobile money services.  Read More

Airtel Gabon sanctioned

Gabon’s regulator says it will sanction Airtel Gabon for irregularities in its records. Read More

Gabon, Turkey aim to double trade volumes

Gabon and Turkey aim to increase their trade from USD50m a year to USD100m a year by 2015. Read More

Internet Gabon to deploy Hughes HN Broadband solution

IG Telecom in Gabon will use the Hughes HN broadband satellite solution to expand its services throughout the Central African nation and surrounding countries. Read More

2013 will be ‘internet year’ for Gabon

Next year will be the year of the internet in Gabon, says the country’s Agency for Digital Infrastructure and frequencies (ANINF). Read More

Airtel appointments bolster its Francophone operations

Airtel has appointed two of its most experienced African executives to head its operations in Democratic Republic of Congo (DRC) and Gabon. Read More

PRESS OFFICES

Sage ERP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN Business

FEATURED STORY

Kenyan shift to Green Economy would generate USD 45bn by 2030 Kenyan shift to Green Economy would generate USD 45bn by 2030

Kenya’s transition to a green economy could produce major economic benefits  equivalent to an estimated USD 45 billion by 2030, a new  study shows.

IN DEPTH

E-waste threatens Ghana’s beachesE-waste threatens Ghana’s beaches

Many beaches in Ghana, already stressed by pollution and poor maintenance, are now facing a new threat: e-waste.

COMPANY NEWS

Further African expansion for Phoenix

Phoenix Distribution, a leading broad-based distributor on the African continent, has expanded its office in Nairobi, Kenya, in a move to better serve its partners in East ...