Brussels, 26/01/2012 (Agence Europe) - On Thursday 26 January, the European Investment Bank (EIB) decided to grant €29.5 million long-term funding for the new Kribi power plant in Cameroon. Availability of electricity for more than 160,000 households, local industry and small businesses is set to be transformed by this first natural gas powered power plant in the county.
The project includes the construction of a new 216 megawatt natural gas power plant in southern Cameroon, a new 100 km high voltage transmission line, new substations and transformers. This will make a significant contribution to enhancing the country's electricity supply, currently estimated at 1,021 megawatts. The Kribi power project provides a “low-cost gas solution to increase security of energy supply, in particular during the dry season, when hydropower cannot be guaranteed”. (OL/transl.jl)