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07/20/2012
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57 million dollar jump start for the renewable energies sector
The African Development Bank (BAD) granted a loan of $57 million to Gabon, on Friday 20 July.

After the Gabonese government's statement emphasising the determination to increase the available electrical power from 370 MW to 1200 MW by 2020, the African Development Bank (BAD) has granted a loan of $57 million to develop renewable energy sources.

The loan is earmarked for two hydroelectric projects in the provinces of Ngounié and Northern Gabon, with respective capacities of 70 MW and 52 MW, the delivery of which is scheduled in 2 years. These two projects will boost the supply of electricity available for the whole of the country.

For it is the ambition of the President and his government to increase domestic power production capacity to more than 5,000 MW in the long term and put an end to the frequent power outages that have a direct impact on the daily lives of the Gabonese people, making Gabonese companies less competitive and disrupting the country's smooth economic development.

These two projects should therefore boost the private sector in Gabon, in particular through the creation of jobs, but will also contribute to regional interconnection through the infrastructures created.

 
 
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