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KRIBI GAS FIRED POWER PROJECT

Signature(s)

Amount
€ 29,500,000
Countries
Sector(s)
Cameroon : € 29,500,000
Energy : € 29,500,000
Signature date(s)
17/01/2012 : € 29,500,000
Link to source

Summary sheet

Release date
2 May 2011
Status
Reference
Signed | 17/01/2012
20070015
Project name
Promoter - financial intermediary
Kribi gas-fired power plant

AES Corp and the Republic of Cameroon

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 40 million
EUR 256 million
Location
Sector(s)
Description
Objectives

Construction of a gas-fired power plant with installed capacity of 216MW and a 100 km transmission line (225 kV) connecting the production site to the town of Edéa.

The aim of the project is to increase electricity generation capacity and address the serious power shortage blocking the country's development.

Environmental aspects
Procurement

The project and related facilities present environmental and social challenges: acquiring the site will entail the physical displacement of a relatively small number of people and the economic displacement of a large proportion of them. Gas combustion at the plant will result in the emission of greenhouse and other gases. All environmental and social aspects of the project will be examined in detail during the appraisal.

The promoters are obliged to comply with the EIB's procurement procedures, which reflect the requirements of the corresponding EU directive.

Comments

The project will be appraised by the EIB subject to the successful conclusion of the review of the legal framework for the electricity sector.

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Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

News & Stories

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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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