BDEAC to grant FCfa 80bn loan for financing of the Sendje hydroelectric power station in Equatorial Guinea - Living Environment

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Monday, June 15, 2020

BDEAC to grant FCfa 80bn loan for financing of the Sendje hydroelectric power station in Equatorial Guinea

BDEAC to grant FCfa 80bn loan for financing of the Sendje ...

The BDEAC, the development finance institution of the CEMAC countries, approved the granting of a loan of FCfa 80 billion to Equatorial Guinea. The credit line will be used to finance the construction of the Sendje hydroelectric plant.

The Development Bank of Central African States (BDEAC) approved the granting of a line of credit of 80 billion CFA francs dedicated to the project of construction and exploitation of the hydroelectric plant of Sendje in Equatorial Guinea. This project started in 2012 was entrusted to the Ukrainian Duglas Alliance, specialized in the construction of hydroelectric and industrial installations. Its delivery has been the subject of numerous postponements.

This hydroelectric plant will cover a significant part of the country’s electricity needs. It will complement the energy supply provided by the Djibloho hydroelectric plant, built by the Chinese company Sinohydro and delivered in 2012.

Apart from the Sendje hydroelectric power plant project, the BDEAC, a development finance institution for Cemac member countries (Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea, Chad) co-financed in 2015 and amounted to CHF 20 billion. CFA the Lom Pangar hydroelectric development project in Cameroon.

In its 2018 annual report , the institution run by the Equatorial Guinean Fortunato Ofa Mbo approved 9 projects covering the health, infrastructure, education, agro-industry and energy sectors for a total amount of 93.8 billion CFA francs.

 

Source: Agence Ecofin

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