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MIGA issues guarantees for
Gabon’s 35-MW hydroplant
GABON THE Multilateral Investment Guarantee Agency Libreville. It will reinforce the existing Kinguélé
(MIGA) has issued risk guarantees of about and Tchimbélé power plants with a combined
$28.7mn to investors in a 35-MW hydroelectric capacity of 120 MW on the Mbé.
power plant (HPP) in Gabon. MIGA said Kinguélé Aval will provide
MIGA on December 15 signed contracts increased affordable, reliable and efficient base
issuing guarantees to Meridiam Infrastructure load power to help meet growing electricity
Africa Fund FIPS and Meridiam Infrastructure demand and enhance energy security in Gabon.
Africa Parallel Fund FIPS for their equity or qua- “The construction of the project is forecast
si-equity investments in the proposed Kinguélé to take 40-45 months. The number of work-
Aval HPP. ers required will vary during construction but
“The guarantees are issued against the risks of the peak number of workers is expected to be
transfer restriction and inconvertibility, breach between 450 and 700,” said the arm of World
of contract, expropriation, and war and civil dis- Bank.
turbance for period of up to 20 years,” the World The plant will utilise the steep gradient of the
Bank Group said in a project update. Kinguélé Falls, which comprise about 20 rapids
The guarantees cover design, construction, of 1-5 metres in height, to provide hydro-energy
operation and maintenance of the 35-MW plant. potential. The concrete dam will be 48 metres
It includes inter-connection facilities to connect high with a crest length of 470 metres.
the plant to the national electricity transmission The project will help optimise Gabon’s hydro
network. potential and provide low-cost energy. It will lead
Asonha Energie S.A., 60% owned by Merid- to the replacement of existing thermal capacity
iam and 40% owned by the Gabonese Strategic and will save more than 150,000 tonnes per year
Investment Fund (FGIS), through its subsidiary (tpy) of carbon dioxide (CO2) emissions.
Gabon Power Company (GPC). will implement The project is aligned with the WBG’s Coun-
the project. try Strategy for Gabon which supports improved
The electricity will be sold to government of access and quality of services, including in
Gabon under 30-year power purchase agree- energy, as well as other critical infrastructure
ment (PPA). investments. Support for the project also aligns
The project site is on the river Mbé, in north- with MIGA’s strategic focus on climate change
east Gabon, about 90 km east of the capital mitigation benefits.
Week 01 06•January•2022 www. NEWSBASE .com P7
