AfDB approves Nigerian hydro financing

• 7 years ago (2016-12-23)
• David Flin

Hydroelectric 17

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The African Development Bank (AfDB) has approved a financing package of $100 million for the rehabilitation of the Kainji and Jebba hydropower plants in Nigeria. The package, which consists of $80 million loan and $20 million equity, is to increase the combined available capacity from the current 917 MW to 1338.4 MW.

The AfDB, through this inaugural private sector power transaction in Nigeria, aims to play a role in both increasing power generation capacity, and to ensure that carbon-free electricity plays a greater role in a country traditionally dominated by thermal power. The Nigerian Government has said that the ongoing power sector reforms will enhance private sector participation in the electricity industry.