Eranove, a French industrial conglomerate, and the Gabonese Fund for Strategic Investments (FGIS) have decided to raise €300 million. The Ngoulmendjim dam and a 82 MW hydroelectric plant will be built using this funding.
The consortium has identified two financial institutions. The African Development Bank (AfDB) will be in charge of coordinating the deal. The project’s financial structuring will be handled by the British Standard Chartered Bank (SCB). Overall, the AfDB and SCB are in charge of seeking potential partners for the hydroelectric power plant’s funding, as well as processing the file in order to execute credit agreements and begin construction on the ground.
Asokh Energy is responsible for the implementation of the Ngoulmendjim hydroelectric project. Eranove owns 60 per cent of the special purpose company, while Gabon Power Company (GPC), a FGIS subsidiary, owns 40 per cent. Asokh Energy plans to construct a dam on the Nkomo River in Gabonese capital Libreville, 125 kilometres away. On foundation, the structure will reach a maximum height of 38.5 metres, with a crest width of 635 metres.
The dam will create a reservoir that will cover at least 30 km square. The enormous edifice will be equipped with a hydroelectric power station with three Pelton turbines capable of providing 82 MW of power. The generated electricity will be evacuated along a 135-kilometer 225-kV circuit.