IFC to Provide Partial Funding for Gabon’s Kinguélé Hydroelectric Dam
The International Finance Corporation (IFC) will grant a $51.5 million loan to Asonha Energie for the development of the Kinguélé hydroelectric dam in Gabon, representing one third of the total $154.4 million required for its construction.
Asonha Energie is a joint venture between the Gabonese Fund for Strategic Investments (60%) and Meridiam (40%), a French private equity fund specializing in infrastructure.
The Kinguélé hydroelectric project involves the construction of a hydroelectric power station with an installed capacity of 57.9 MW and a production capacity of 400 GWh. Its installation is planned on the M’Bei (Kango) river, 90 km from the capital Libreville, downstream of the two existing hydroelectric power stations of Tchimbélé and Kinguélé, with a total capacity of 120 MW.
The project seeks to strengthen the interconnected network of Libreville, which is experiencing growing energy demand. In addition, the project aims to support Gabon in its economic and energy development, in accordance with the vision of H.E President Ali Bongo Odimba, as delineated in the Gabon Emerging Strategic Plan.