News

Guinea Bissau secures $45M loan from BOAD to build 22MW PV power plants

  • Comments   -   Wednesday, 04 October 2017 - 09:33

(Ecofin Agency) - The West African Development Bank (BOAD) has granted Guinea Bissau a CFA25 billion (about $45 million) loan to boost its power production capacity. The funds will serve to build a 20MW PV solar power plant in the capital city, Bissau.

Moreover, two mini-PV plants of 1MW each will be constructed in Gabu and Canchungo with part of the financing, a statement released by the bank indicates.

“The project’s development will allow around 500,000 people to have access to electricity and reduce greenhouse gases emissions by 24,100 tons,” said the minister of energy, in this regards.

Let’s recall that in March, this year, the BOAD had already provided the country $24 million to connect 350,000 people to the national power grid, through the latter’s expansion. Guinea Bissau has an electrification rate of about 22%. 

Gwladys Johnson

On October 18, 2018, Léon Juste Ibombo, Congo’s minister of posts and...
Read more |  19 October 2018
JSE - listed (Johannesburg Stock Exchange) IT company Altron and Huawei partnered to...
Read more |  19 October 2018
Bank of Kigali will issue new shares at CFA270 each, the bank...
Read more |  19 October 2018
Kenya plans to attract about 2.5 million tourist arrivals per year by...
Read more |  19 October 2018
Tunisia is being watched by the Eurobond market following its announcements that...
Read more |  19 October 2018
The African Development Bank’s efforts to channel critical investment funding to Africa’s...
Read more |  19 October 2018
Kenya plans to attract about 2.5 million tourist arrivals per year by...
Read more |  19 October 2018
Tunisia is being watched by the Eurobond market following its announcements that...
Read more |  19 October 2018
The African Development Bank’s efforts to channel critical investment funding to Africa’s...
Read more |  19 October 2018

Copyright Agence Ecofin © 2018. All Rights Reserved.