41172
ASONHA ENERGIE SA
Jun 18, 2020
Gabon
Africa
Jul 28, 2022
Large Hydro - Renewable Energy Generation
Infrastructure
Regional Industry - INF Africa
A - Significant
The proposed IFC financing will support the 34MW run-of-the-river Kinguélé Aval hydro power project located on the river Mbei, 85km East of Libreville in Gabon. The Project will be implemented by Asonha Energie, a company 60% owned by Meridiam and 40% by the Gabonese Strategic Investment Fund (“FGIS”) - acting through its subsidiary, the Gabon Power Company (“GPC”). The Project will sell its entire output to the Government of Gabon (“GoG”) under a 30-year Power Purchase Agreement (“PPA”). The Project will help optimize Gabon’s hydro potential, displace expensive emergency or thermal power, provide low-cost energy and help meet the country’s demand. The Project will reinforce the existing hydropower cascade on the Mbei river comprised of two existing power plants (Kinguélé and Tchimbélé) for a combined capacity of 120MW. Total estimated project costs are c.€176 million and IFC will propose an A Loan of up to €40 million, a senior concessional loan from IFC as implementing entity of the Canada-IFC Renewable Energy Program for Africa of up to $25 million and risk management products such as interest rate and/or cross currency swaps.