Kribi Power Plant

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In 2010, the Kribi Power Plant BOT project reached closure with the completion of more than 25% of plant's construction. Apart from the 216MW plant, the project also consists of a 100km 225 kilovolt double circuit transmission line. The project was awarded by AES Sonel, the national utility, to the private company Kribi Power Development Company. Kribi Power Development Company was a joint venture between AES (56%) and the government (44%). Kribi Power Development Company had a 20-year PPA with the national utility AES Sonel. Wartsila was selected to supply and install the gas engine power plant. In April 2011, construction was 43% complete but it was reported that Kribi Power Development Company was still looking for $132.9 million to complete the project. Construction was expected to be completed by June 2012. On July 19, 2011, the African Development Bank (AfDB) approved a loan of $57 million (€45 million) toward the construction of the plant. In January 2012, KPDC announced a project financing of $329.7 million in total (€258 million). $76.7 million was to be provided by the International Finance Corporation (IFC - €60 million), and the Standard Chartered Bank providing the same amount. Another $176.35 million (€138 million) was provided by the AfDB, the Netherlands Development Finance Company (FMO, $23 million or €16.5 million), the French Promotion and Investment Company for Economic Cooperation (PROPARCO), and the Central African Development Bank (BDEAC). The European Investment Bank announced in January 2012 that it also contributed to the financing for the project, providing $41 million (€29.5 million). Completion expected by september 2012. Commissioning expected soon after completion.