Meridiam wins concession contract for 34MW Kinguele Dam in Gabon

In Gabon, Meridiam has just signed a concession contract for the Kinguele run-of-river hydropower plant. With a capacity of 34 MW, the infrastructure will be built on the Mbei River, 100 km from the capital Libreville. Upon completion, it will provide 13% of the electricity consumed in the capital. Its production will replace those of several thermal power plants, thus avoiding the emission of 150 000 tons of CO 2 annually.

The 33-year concession agreement also includes the implementation of the infrastructure and associated substation. Work is scheduled to start in the second quarter of 2020 for commissioning of the proposed plant in 2023.

It will be 60% owned by Meridiam and 40% owned by the Gabonese Investment Fund (FGIS). Its total cost has been estimated at $ 165 million, 75% of which will be provided by the International Finance Corporation, the African Development Bank, the Islamic Development Bank and the Southern African Development Bank.

 

Source: Agence Ecofin

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