- A public-private partnership (PPP) agreement has been signed between the French company Meridiam and the Gabonese government for the implementation of the Kinguélé Aval Downstream hydroelectric project in the western estuary province of the country.
- Under the agreement, the French company will hold a 60% stake in Asonha Energie, the company set up to operate the future facilities.
- The remaining 40% of the company’s shares will be held by the Gabonese Strategic Investment Fund (FGIS), the sovereign fund of this Central African country.
Upon completion, the Kinguélé Aval hydroelectric power plant will have a capacity of 34 MW. Construction work is set to begin in the second quarter of 2020 during which 800 new jobs will be created directly on site.
A call for tenders has already been issued for the selection of a company to execute the engineering, procurement and infrastructure construction contract for the project. Commissioning of the hydropower project has been scheduled for the end of 2023.
Asonha Energie will sell the electricity produced to the Gabon Energy and Water Corporation (Seeg), pursuant to a 30-year power purchase agreement (PPA).
Gabon lies on the equator, and located on the far west coast of central Africa. The country borders 3 countries & the Gulf of Guinea; to the north-west is Equatorial Guinea, to the north is Cameroon & to both east & south is the Republic of Congo, while the Gulf of Guinea is to the west.
51.7% of Gabon’s total produced electricity in 2015 were generated from hydro (1200MW), and 48.2% were from fossil fuels. Gabon relies heavily on oil for both its export revenues & its domestic energy production. It has one of the biggest oil reserves in Africa.
Author: Bryan Groenendaal
Hydro Power in Africa is going to be a hot topic at the Africa France Summit taking place in Bordeaux in 4-6th June 2020.
An initiative by French President, Emmanuel Macron, the Africa France Summit will be the largest investment summit of its kind between Africa and France. The theme is ‘Sustainable Cities’ and South African President, Cyril Ramaphosa, will lead a 30 strong delegation to the summit. There will be over 50 other African heads of state in attendance. It is the first of a kind event combining both the public and private sector in a ‘Sustainable City’ designed exhibition plus summit. It is an Africa/France but also an Africa/Africa summit. The scope and scale is unprecedented.