The World Bank and the International Finance Corp. approved today (Nov. 14) an $86 million loan to support the Kribi Gas Power Project, a public-private partnership project between the government of Cameroon and the AES Corp. that would guarantee the supply of electricity to more than 163,000 households in the country.
The project will include the development, construction and operation of a new 216MW natural-gas fired power plant near a village 9 kilometers north of Kribi, and the development and construction of a new 100-kilometer, 225kV double-circuit transmission line between the power plant and the existing Mangombe electrical substation at Edéa in Littoral province. The project is estimated to cost $350 million.
The Kribi Gas Power Project was conceived to meet Cameroon’s growing electricity demand and as an alternative low-cost power supply option during the dry season. Once completed, it will be the first power plant to run on natural gas in the Central African country.
Read more development aid news online, and subscribe to The Development Newswire to receive top international development headlines from the world’s leading donors, news sources and opinion leaders — emailed to you FREE every business day.