UPDATE – European bank weighs funding for DR Congo’s Inga rehab

The European Investment Bank (EIB) is considering providing 110 million euros (US$175 million) to the Democratic Republic of Congo (DRC) for rehabilitation of the Inga hydroelectric complex as well as work on the area electricity distribution system.

EIB said it has the funding under appraisal. The announcement follows the African Development Bank’s (AfDB) signing of a US$58 million grant agreement to DRC April 10 for rehabilitation of Inga, on the Congo River, as well as work on the Kinshasa area distribution system. (HNN 4/11/08)

EIB said the total cost of the rehabilitation project is 600 million euros (US$954 million).

South Africa’s Engineering News reported a financier’s conference was scheduled for April 21-22 in London for the proposed 4,300-MW Inga 3 hydro project. The five-nation Western Power Corridor Co. (Pty) Ltd. (Westcor) formally launched development of Inga 3 in February with a solicitation for advisers, consultants, and operational staff. (HNN 4/7/08)

The US$58 million AfDB grant agreement was signed at that bank’s headquarters in Tunis, Tunisia, by AfDB Vice President Gantsho Mandla and DRC Charge d’Affaires Genevieve Lukusa Kayembe Nkaya.

Gantsho said the project, which is being co-financed with other donors including the World Bank, is to enhance operational efficiency in the energy subsector, boost power generation and transmission capacity, meet domestic demand, and support regional integration.

�I would like to underline the need for an urgent implementation of this project given the dilapidated state of the electrical infrastructure and the need to improve electricity supply in the country,� he said.

The DRC previously said, with the AfDB funds, it plans to solicit international bids from suppliers of large hydroelectric equipment to supply two turbine-generator groups for rehabilitation of the 350-MW Inga 1 and 1,424-MW Inga 2 projects. (HNN 1/24/08)

The DRC recently awarded a contract to German engineering firm Fichtner to guide the rehabilitation work. (HNN 4/9/08)

The World Bank recently approved a second additional financing grant to the DRC for emergency rehabilitation of critical infrastructure, including the DRC hydropower system. South Africa also is helping the DRC to refurbish Inga 1 and Inga 2 and to develop Inga 3. (HNN 4/10/08)

Previous articleBush CO2 plan would revamp incentives for low-emission technologies
Next articleU.N. to help expand Georgia clean energy, including small hydro

No posts to display