(SeeNews) - Dec 12, 2014 - The European Investment Bank (EIB) on Wednesday unveiled an investment programme for Guinea that will back 47 MW of hydropower plant (HPP) projects in the West African country.
More specifically, the funds will be allocated for upgrades to four hydropower stations that will lift their capacity to 122 MW from 75 MW currently. The four HPPs are located at Grand Chutes, Donkea, Baneah and Garafiri. In addition, the programme will back the revamp and expansion of two substations at Sonfonia and Kipe and electricity distribution in Conakry.
The EIB will cover about 38% of the overall cost of the project, which will be also supported by the Republic of Guinea, the Islamic Development Bank, the Kuwait Development Fund, the World Bank and African Development Bank.
Although Guinea has vast hydropower resources, they have not been developed and the country depends on high-cost diesel power generators. The EIB noted that the four HPPs will help improve medical treatment and economic activity in the Ebola-hit country.