World Bank gives Lom Pangar project $132 million

WASHINGTON, D.C. 4/2/12 (PennWell) -- The World Bank's Board of Executive Directors has approved a US$132 million loan for Cameroon's 56-MW Lom Pangar hydropower project.

The zero-interest financing is being made to "support the country's economic development" and "significantly improve the supply of electricity to homes and businesses across Cameroon," the World Bank says.

The bank says the immediate benefit will be a 120-MW increase in hydroelectric generation at two existing hydropower plants, whose improved reliability will affect up to 5 million Cameroonians.

The Lom Pangar project has also received financial assistance from the African Development Bank (AfDB), Central African States Development Bank (BDEAC), European Investment Bank (EIB), International Development Association (IDA) French Agency for Development (AFD) and Government of Cameroon.

The facilities, on the Sanga River, are expected to help store water during the rainy season and will increase Cameroon's hydroelectric generating capacity by about 40%.

"Africa's energy deficit suppresses its growth and deepens poverty, and this is certainly the case in Cameroon where many communities are starved for energy," says Obiageli Ezekwesili, World Bank president for the Africa Region. "Lom Pangar marks an important step in turning the lights on in more homes and businesses in Cameroon, lowering power costs, attracting new investors and improving the all-season reliability of the country's electricity."

Ezekwesili also notes that Cameroon has the third-largest untapped hydropower potential in sub-Saharan Africa, with as much as 12,000 MW of hydroelectricity still to be had.

Cameroon announced its intention to improve Lom Pangar in 2009.

HydroVision International 2014 Keynote Speakers

Presenting the HydroVision International 2014 Keynote Speakers

Check out a slideshow covering the keynote speakers at the HydroVision International 2014 conference and exhibition

Click Here >>

Hydro Industry Financials

Buyers Guide Products

PTFE-lined Thrust Shoes for VRA Akosombo, Ghana

Designed, manufactured, delivered replacement P...

Most Read Articles

Recent Comments

Buyers Guide Companies

Vesconite

Entec AG Consulting & Engineering

Offers long-standing experience and is highly q...

BG Consulting Engineers Ltd

With subsidiaries in Switzerland, France and Al...

NuPlanet (Pty) Ltd

A small hydro power developer, owner and operat...

NuPlanet

Specializes in comprehensive turnkey maintenanc...

Continuing Education

Professional Development Hours
To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

06/01/2014
Volume 33, Issue 5
file
07/01/2014
Volume 22, Issue 4
file

Archived Articles

2006 | 2007 | 2008 | 2009 | 2010 2011 | 2012 | 2013
Hydro Review Past Issues