The Kinguele Aval hydroelectric development project has reached a new stage. Meridiam and Gabon Power Company, the 2 developers of the project, have just completed the financing necessary for the construction of the new hydroelectric infrastructure. 179 million has been raised thanks to the participation of the African Development Bank and the International Finance Corporation, the subsidiary of the World Bank Group responsible for financing the private sector.
Kinguele Aval is also receiving funding from DBSA and EAIF, a fund owned by the Private Infrastructure Development Group (PIDG). With this successful financial mobilization, the project enters its construction phase. Kinguele Aval is being developed by Asonha Energie, the company created ad hoc by Meridiam and Gabon Power Company to build and operate the future facilities.
The Kinguele Aval hydroelectric dam will be built on the Mbei River, 100 km east of Libreville, the capital of Gabon. The dam will have a hydroelectric power station with a capacity of 35 megawatt, representing an annual production of 205 GWh. This is equivalent to 13 per cent of the electricity consumed in the city of Libreville. According to Meridiam, the future hydroelectric plant will contribute to the replacement of existing thermal capacities and will save more than 150,000 tons of carbon dioxide emissions per year.