GABON: 4 banks disburse €123 million for the Kinguélé Aval hydroelectric dam
In Gabon, the Kinguélé Aval hydroelectric project recorded a first disbursement of 81 billion CFA francs. This financing is mobilized by four lenders of this project developed within the framework of a public-private partnership (PPP).
The financing of 81 billion CFA francs (123.4 million euros) is provided by the African Development Bank (AfDB), the Development Bank of Southern Africa (DBSA), the Infrastructure Fund for Africa (EAIF) of the Private Infrastructure Development Group (PIDG) and the International Finance Corporation (IFC), the subsidiary of the World Bank group responsible for financing the private sector.
“Obtaining this first drawing from international lenders reflects the confidence of these financial institutions in our project and our ability to positively and sustainably change the daily lives of thousands of Gabonese people,” says Sylvain Bouyé, the general director of Asonha . Energy, the company developing the project. The dam under construction on the Mbéi River, 90 km from the Gabonese capital Libreville, will enable the development of an installed capacity of 35 MW.
Asonha Energy estimates the annual production capacity of the hydroelectric plant at 205 GWh. This is the equivalent of 13% of the electricity consumed in the city of Libreville. According to him, the future power plant will contribute to the replacement of existing thermal capacities and will save more than 150,000 tonnes of CO 2 emissions per year.
On the ground, the work is carried out by Sinohydro which signed the engineering, procurement and construction (EPC) contract with Asonha Energy. The Chinese entrepreneur is assisted by the French company Artelia and its compatriot Electricité de France (EDF). Asonha Énergie is building the Kinguélé Aval hydroelectric dam as part of a public-private partnership (PPP). The special purpose company is 60% owned by the French investment company Merdiam and 40% by Gabon Power Company (GPC), the subsidiary of the Gabonese Strategic Investment Fund (FGIS).
The electricity produced will be sold to the Gabon Energy and Water Company (SEEG) for 30 years. The total cost of the Kinguélé Aval hydroelectric development is estimated at 117.4 billion CFA francs, nearly 179 million euros.
