AfDB to Finance Angolan Energy Expansion
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On Wednesday, the African Development Bank (AfDB) announced its provision of $500 million in financing to implement the first phase of the Program of Expansion and Efficiency of the Energy Sector (ESEEP-1) in Central and Southern Angola.
The program aims to create more than 1,000 megawatts of excess energy in the northern region of the country (Kwanza Norte, Malanje and Zaire), in an effort to increase access by households, industry and small and medium-sized enterprises to reliable, affordable and sustainable power.
The three-part program will provide for the management, design and implementation of the construction of 343 km of the Center/South 400-kilovolt transmission line. ESEEP-1 will also target improvements needed in revenue collection of Angola’s Empresa Nacional de Electricidade through the installation of 860,000 prepaid smart meters, 400,000 prepaid smart meters for new consumers and the standardization of services for existing consumers.
Finally, the program will complete feasibility studies required for the construction of the Ngove-Menongue line, as well as outline a plan for the resettlement of residents in the area of the construction of the line, and provide for the management and supervision of the project.
Returning for its second year, the Angola Oil & Gas Conference &; Exhibition will be hosted in June 16-17, 2020 in Luanda, and will focus on an international investment drive aimed at bringing new deals and signing new entrants into Angola’s oil and gas sector.