BDEAC and Equatorial Guinea in loan agreement for Sendje project

14 July 2020

The Development Bank of Central African States (BDEAC) has signed a loan agreement worth FCFA 80 billion with the Government of Equatorial Guinea to fund the construction and operation of the 200MW Sendje hydroelectric plant.

The signing ceremony took place at the Ministry of Finance, Economy and Planning in Malabo in June, between Mr. Fortunato-Ofa Mbo Nchama, President of the BDEAC and His Excellency Cesar Augusto Mba Abogo, Minister of Finance. Also present were Baltasar Engonga Edjo, Minister of State for the Presidency in charge of Regional Integration and Miguel Ekua Ondo,Minister of Industry and Energy.

Once developed Sendje, located 40 km from the city of Bata, will supply all cities in the mainland of the country with clean and sustainable energy. The project also has many other benefits: (i) socio-economically, it will help reduce the average price per kilowatt hour, with a substantial gain for subscribers; (ii) commercially and financially, it will increase the rate of connection to the country's electricity network and make up for the electricity deficit which is paralyzing the economic growth of the country in general and of the mainland in particular; and finally (iii) on the environmental level, it will contribute to the reduction of dependence on fuel oil thermal production units, by integrating renewable energies into the electricity production system, improving the carbon footprint of Equatorial Guinea. 



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