Gabon's Ministry of Energy, United Bank for Africa and Company for the Development of Renewable Energy are partnering to build a hydropower plant in Gabon, news agencies reported.
The estimated budget for the 36-MW hydro plant is $234 million. The project expected to be complete within 30 months, reports indicate.
United Bank for Africa's director said the project and a sister project at Imperatrice Dam are expected to stimulate Gabon's economic activity.
In other news, South Africa's government said it will invest 20 billion rand (US$2.9 billion) into Eskom Holdings Ltd. to help the South Africa utility fund increased power generating capacity, Bloomberg reported.
The loan will fund new power projects, including a pumped-storage hydro plant, wire reports indicate.
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