Construction of new power plant in Guinea commences
The construction of a new power plant project in Guinea has commenced. The plant will increase energy control efforts, add power to the country and stabilize the national electric grid.
Abu Dhabi Fund for Development (ADFD) has already provided US$ 18m of funds which is part of a larger amount totalling to US$ 90m.
Eventually, the funds will cover 80% of development projects across the country. The project constitutes of control rooms, offices, supervisory control and data acquisition (SCADA) network.
The funds will cater for training for operations and maintenance personnel, installation of sufficient hardware for purposes of communication with 24 power stations and substations.
Initially, ADFB had contributed more than US$ 20m towards the construction of two other power stations. The stations are Tombo I and Tombo II located in the Conakry, the capital of Guinea. They are currently both complete producing 60 MW of energy.
ADFD aims to help developing countries to achieve sustainable socio-economic growth; through financial assistance in the forms of concessionary loans, managing government grants and equities.
It peruses investments to encourage the private sector in the recipient countries to play an essential part in accelerating the economic development process. At the same time it plays a pivotal role in strengthening and diversifying the future resources of the Fund.