- Gabon’s Kinguélé hydroelectric project secures €123 million funding.
- Asonha Energie aims for 205 GWh yearly, cutting 13% of Libreville’s CO2 emission.
Gabon’s Kinguélé Aval hydroelectric project received an initial disbursement of 81 billion CFA francs (123.4 million euros). The funding comes from four lenders: the African Development Bank (AfDB), the Development Bank of Southern Africa (DBSA), the Emerging Africa Infrastructure Fund (EAIF) of the Private Infrastructure Development Group (PIDG), and the International Finance Corporation (IFC). The project operates under a public-private partnership (PPP).
Asonha Energie expects the hydroelectric plant to produce 205 GWh annually, equivalent to 13 per cent of Libreville’s electricity consumption. It aims to replace thermal capacity, reducing over 150,000 tonnes of CO2 emissions yearly. Sinohydro is executing the project, aided by French companies Artelia and Électricité de France (EDF).
Asonha Energie is building the dam through a PPP in a 60-40 ownership split between French investment company Merdiam and Gabon Power Company (GPC). The electricity generated will be sold to Gabonese Water and Energy Company (SEEG) for 30 years. The Kinguélé Aval hydroelectric scheme’s total cost is estimated at 117.4 billion CFA francs, nearly €179 million.