AfDB funds $530m electricity project in Angola
The African Development Bank has committed $530 million to finance the construction of a 343km, 400kV central-south transmission line in Angola. The project will connect the north and south transmission grids in the country and allow for the distribution of clean energy between the two regions.
The finance package consists of $480 million in financing from the African Development Bank, along with $50 million from the Africa Growing Together Fund, a $2 billion facility sponsored by the People’s Bank of China and administered by the African Development Bank.
The north of Angola has a surplus of more than 1,000MW of mostly renewable power, whereas the south relies on expensive diesel generators, supported by government subsidies. Transmission capacity will increase by 2,250MW and eliminate the need for polluting, diesel-powered generators in southern provinces.
