AfDB adds funding for Congo's 4,800-MW Inga 3 hydropower project

Congo Map

The African Development Bank (AfDB) has approved US$68 million in financing that will be used by the Inga Site Development and Electricity Access Support Project (PASEL) to support development of Congo's 4,800-MW Inga 3 hydropower project.

The funding comes in the form of a $7.7 million Fragile States Facility grant and $60.6 million as an AfDB grant which, the bank said, accounts for about 43% of the Inga 3's $169 million price tag.

"This is the right project for the DRC and the bank -- at the right time," said AfDB Director of Energy, Environment and Climate Change. "It is timely because it facilitates the implementation of Inga 3 whose investment costs would otherwise be difficult to mobilize in the current context of the DRC."

AfDB said the money will be used to cover the costs of technical assistance "to ensure the completion of preparatory activities". It will also be used to power scarcity in remote areas not directly covered by Inga, but where Congo intends to develop grids around small hydropower projects.

This latest financing adds to previous AfDB investments, which also include $5.25 million in technical assistance awarded in June and $15.7 million provided for feasibility studies in 2008.

Inga 3 is part of Congo's 40-GW Grand Inga hydropower project, which is being developed in phases. reported that Congo and South Africa had signed a power-purchase agreement in December 2012, which solidified commitments to the project. DRC said it hopes to begin construction of Inga 3 by October 2015.

For more news from Africa, visit here.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs