Gabon Power Company (GPC) is developing sustainable energy for Gabon. The company researches, designs, builds and operates electricity and water production infrastructure. Contact online >>
Gabon Power Company (GPC) is developing sustainable energy for Gabon. The company researches, designs, builds and operates electricity and water production infrastructure.
Established in 2015 through the Gabonese Strategic Investment Fund, GPC now has a variety of power generation projects currently under development.
With these projects, GPC sets out to diversify the Gabonese energy mix and provide sustainable energy for its population.
The Ngoulmendjim Power Station is a planned hydroelectric power station across the Komo River in Gabon. The power station is under development, by a consortium comprising the French conglomerate Eranove Group and Gabonese Fund for Strategic Investments (FGIS). As of November 2021, the development was in the "financial mobilization phase".[1]
The power station would be located astride the Komo River, in Estuaire Province, about 125 kilometres (78 mi) southeast of the capital city of Libreville.[1]
Libreville, the capital city of Gabon, is home to approximately half of the country''s population. As of 2018, 15-20 megawatts of new annual generation capacity, were required to keep up with new demand in Libreville alone. Ngoulmendjim HPP, is intended to address this need.[2]
The dam will have a crest width of 635 metres (2,083 ft) with maximum height of 38.5 metres (126 ft). This will form a reservoir with surface area in excess of 30 square kilometres (7,400 acres). Three Pelton turbines will be installed and are expected to generate 82 megawatts of electricity. The energy will be transmitted from the power station via a new 225kV transmission line, measuring 135 kilometres (84 mi) long, to a location where the electricity will enter the national grid. A 30-year power purchase agreement has been executed between the Government of Gabon and the power station developers.[1][2]
The developers of this power station, have formed a special purpose vehicle company called Asokh Energy, that will own, design, develop, operate and maintain this HPP. The table below, illustrates the shareholding in Asokh Energy.[1][2]
Note: Gabon Power Company (GPC) is a subsidiary of Gabonese Fund for Strategic Investments (FGIS).[1]
The construction budget is reported as €300 million. The developer/owners have selected the African Development Bank as the lead arranger of a syndicated loan. The British financial house Standard Chartered Bank was selected to structure the loan.[1]
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Yesterday, the Gabon Power Company (GPC) signed a landmark Concession Agreement with Wärtsilä for the development, supply, construction, operation and maintenance of a new 120 MW gas-to-power project in Owendo, next to the capital city of Libreville.
Wärtsilä will jointly lead the project with the GPC, a subsidiary of Gabon''s sovereign wealth fund FGIS via a new joint-venture called Orinko S.A.
Under the agreement signed yesterday, Wärtsilä will build the plant under a full Engineering, Procurement, and Construction (EPC) contract and will then operate and maintain it under a long-term 15-year Operation and Maintenance (O&M) agreement. The EPC contract and the O&M agreement will be signed in 2022 with Orinko S.A.
When commissioned, the plant will supply electricity to Société d''Energie et d''Eau du Gabon (SEEG), the Gabonese utility, under a 15-year Power Purchase Agreement.
Gabon is currently looking at monetizing its gas across several industries, including power generation. The country already runs several gas-to-power facilities, including the 128 MW Owendo plant, the 105 Port Gentil plant and the 75 MW Alenakiri plant. Most plants are supplied in domestic gas by Perenco. The independent delivers gas on land and at sea through a 450km network of high-pressure pipelines and currently ensure the transport and delivery of 50 MMscfd of gas to the power plants of Port-Gentil and Libreville.
The new gas-to-power plant with Wärtsilä also falls within Gabon''s ambition to increase power generation capacity across the country. In July this year, the GPC and Meridiam had already successfully reached financial close for the 35 MW Kinguélé Aval hydropower plant.
Libreville, Gabon, July 2, 2021 - To scale up clean energy production capacity in Gabon, IFC, the Government of Gabon, Meridiam Infrastructure Africa Fund FIPS (MIAF), Meridiam Infrastructure Africa Parallel Fund FIPS (MIAPF) and the Fonds Gabonais d''Investissements Strategiques (FGIS), with the support of the Government of Canada, today announced a financing package for the Kinguele Aval hydropower plant, the first Independent Power Producer (IPP) in Gabon.
The 35 MW hydropower plant, sponsored by Meridiam and FGIS, will bring low-cost, clean power generation capacity to Gabon''s capital Libreville. IFC expects the project to generate 203 GWh of electricity, amounting to approximately 13 percent of the Estuaire''s Province (or nine percent of the country''s) current total output, enough to serve 32,000 customers and saving more than 90,000 tons of CO2 emissions per year.
''The Kinguele Aval hydropower plant is a landmark project for Gabon that has benefited from an array of complementary services and instruments from the World Bank Group. By adding electricity supply that meets Gabon''s growing demand, the Kinguele Aval hydropower plant will increase economic productivity in Gabon and create hundreds of jobs to spur a green, inclusive and resilient growth,'' said Sylvain Kakou, IFC''s Country Manager for Central Africa.
Gabon has suffered from underinvestment in the power sector, especially in generation. The Kinguele Aval hydropower plant underscores Gabon''s efforts in energy transition by displacing expensive & polluting thermal power and demonstrating a commercially viable and sustainable way of developing the country''s under-exploited hydro potential.
The total project cost is estimated at EUR 178 million. To support the project, IFC is lending up to EUR 33 million from its own account and providing a concessional senior loan of up to US$25 million (or up to EUR 20 million) from the Canada-IFC Renewable Energy Program for Africa.
IFC has also mobilized an additional EUR 98 million financing through the African Development Bank (AfDB), Emerging Africa Infrastructure Fund (EAIF) and the Development Bank of Southern Africa (DBSA). In addition, IFC''s sister organization, the Multilateral Investment Guarantee Agency (MIGA), is expected to provide guarantees in favor of Meridiam. IFC will also provide interest rate and cross currency swaps required for the financing.
IFC will work extensively with all stakeholders and support project implementation in alignment with IFC''s environmental and social standards. This includes a multi-party agreement involving the Government of Gabon, The Nature Conservancy (TNC) and IFC for the consolidation of a management strategy to guide any further development of hydropower in the Mbé-Komo River system in a way that safeguards ecosystem services and biodiversity.
IFC''s participation in the Kinguele Aval hydropower plant is well aligned with the World Bank Group''s new Climate Change Action Plan (CCAP) that aims to mobilize private sector solutions to help emerging and developing countries foster clean energy investments and generate non-oil revenue to contribute to economic diversification.
The construction of Kinguele Aval hydropower plant is expected to start in the third quarter of 2021 and will be completed in 40 months.
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