Meridiam has signed a 33-year concession contract with the Government of Gabon for the 34-megawatt run-of-the-river Kinguele Aval hydropower plant near the coast of central Africa.
The Kinguele Aval Hydropower Project is expected to deliver about 13 percent of the electricity needs of Libreville, the capital city of Gabon. This power plant will contribute to replace thermal power capacities and will save more than 150,000 tonnes of CO2 emissions per year.
The project includes the construction of a gravity concrete weir, a power plant, a stilling basin and a substation.
Construction is scheduled to start in the second quarter of 2020, with commissioning scheduled for the end of 2023.
Meridiam will own 60 percent of the Kinguele Hydropower project company with its partner FGIS (the sovereign wealth fund of Gabon) owning 40 percent. The €150 million ($166 million) Kinguélé Aval project is expected to be 75 percent financed by leading development banks in
