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Financial close of the Kinguélé Aval hydroelectric power plant (35MW)

The African Legal Support Facility is pleased to have assisted, together with the law firm Blake, Cassels & Graydon, the Government of Gabon in reaching the financial close of the 35 MW Kinguélé Aval hydroelectric power plant project.

The project, which will be one of the first IPP projects of the country, is expected to supply the national grid with up to 205 GWh per year, representing approximatively 13% of the electrical needs of Libreville, the capital of Gabon. It will contribute to reduce the environmental footprint of the country’s power sector and save more than 150,000 tonnes of CO2 emissions per year. It will also benefit the electrification of rural areas, contributing to social inclusion in Gabon.

Representing an investment of €179 million, the project is developed by Asonha Energie, a company whose shareholders are Meridiam (60%) and Gabon Power Company (GPC) (40%), a portfolio company of the Gabonese Strategic Investment Fund (FGIS) and counts with the support of major financing institutions: the African Development Bank, the International Finance Corporation, the Development Bank of Southern Africa and the Emerging Africa Infrastructure Fund.

The African Legal Support Facility has proudly accompanied the Government of Gabon in every step of the projet since July 2018.

About the ALSF

Created by the African Development Bank in 2010, the ALSF supports governments in negotiating complex commercial transactions, providing legal and technical assistance in public-private partnership projects across the oil and gas, mining and energy sectors, and in sovereign debt management and creditor litigation.

 

Contact us

Eve Ehoura, Communication Officer : e.ehoura@afdb.org

ALSF Website : https://www.alsf.int/