USD69m for Gabon renewable energy
GABONBy BiztechAfrica - 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
Ghana’s Bright Simons appointed to Microsoft Africa BoardCongratulatory 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 namesGabon has liberalised its national domain and is giving its .GA domain names away for free. Read More
Air France partners with airtel MoneyBharti 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 pricesGabon Telecom has announced tariff cuts across its voice and data offerings. Read More
Gabon Telecom partners with Mahindra ComvivaMahindra Comviva has partnered with Gabon Telecom to enhance its Mobi Cash mobile money services. Read More
Airtel Gabon sanctionedGabon’s regulator says it will sanction Airtel Gabon for irregularities in its records. Read More
Gabon, Turkey aim to double trade volumesGabon 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 solutionIG 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 GabonNext 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 operationsAirtel has appointed two of its most experienced African executives to head its operations in Democratic Republic of Congo (DRC) and Gabon. Read More
FEATURED STORYMACRA demystifies spectrum management
Malawi's regulator explains the issues around spectrum allocation. Gregory Gondwe reports.
BEST READ NEWS
IN DEPTHYouthConnekt launches Mobile Apps for Human Development Challenge in Rwanda
Rwanda’s Ministry of Youth and ICT and the UNDP, in close collaboration with Motorola Solutions, will power a Mobile App Challenge that will be implemented by YouthConnekt.