European Investment Bank backs gas powered plant in Cameroon

The European Investment Bank has agreed to provide EUR 29.5m ($38m) long-term funding for the new Kribi gas power plant in Cameroon.

Availability of electricity for more than 160 000 households, local industry and small businesses is set to be transformed by the first natural gas powered power plant in the country.

The project includes a new 216 MW natural gas power plant in southern Cameroon, which will make a significant contribution to enhancing the country’s electricity supply, currently estimated at 1021 MW.

The Kribi power project provides a low-cost gas power solution to increase security of energy supply, in particular during the dry season, when hydropower cannot be guaranteed.

“The Kribi power project will ensure the availability of electricity in Cameroon, essential for daily life and economic growth. The European Investment Bank recognises the importance of transmission and increased generation capacity for Africa.” said Plutarchos Sakellaris, European Investment Bank Vice President.

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