Kinguele Hydro
$23m of debt to build and operate a 35 MW hydro power plant in Gabon. This will increase access to reliable electricity to 97k consumers, and increase productivity for firms to create indirect jobs and avoid 186k tCO 2e per year.
Direct Impact on People
97k consumers are expected to benefit. The largest impact will be felt by users that consume the most power.
Direct Impact on the Planet
Avoid 186k tCO 2e per year.
Direct Impact on the Wider Economy
Large number of businesses are expected to benefit which will in turn create indirect jobs in the economy. This will also create 700 new jobs during construction of which 80% (560) will be local.
SDG assessment
SDG 7.1 + 7.2 – Access to affordable and reliable renewable energy.
SDG 13 – Climate change mitigation
SDG 8.5 – Achieve full and productive employment
Market transformation
Challenge: Further power capacity is needed to meet energy demand.
Channel: Kinguele is the first utility scale Independent Power Producers in the country with anticipated demonstration and replication via others.
Outcome: Replication of further IPPs by private sector investors leading to improved resilience of the sector.
Moblisation
Mobilised $41m of private sector investment.
HSES
As part of the due diligence process, 60 HSES improvements were identified which are now reflected in the Project Environmental and Social Action Plan (ESAP). Additional studies were required to support the project including biodiversity feasibility studies, the probability of biodiversity offset results and the governance structure for offset mitigation measures.
