Ivory Coast has obtained US $29M for the construction of the Singrobo hydroelectric dam project. Ivoire Hydro Energy (IHE) announced to have received the funding from Emerging Africa Infrastructure Fund (EAIF), a company of the Private Infrastructure Development Group (PIDG).
25-year repayable loan is in addition to other financing already mobilized. Construction of the Singrobo dam is also being financed via a loan from the African Development Bank (AfDB), which has also been mandated as arranger in the financial mobilization for the project.
IHE is also receiving funding from the African Finance Corporation (AFC), as well as from the German Investment Corporation (DEG), the group subsidiary of the German development agency Kreditanstalt für Wiederaufbau (KfW). These investors are providing 75% of the funds needed to implement the hydroelectric project, amounting to US $205M.
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Scope of work
The other 25% of the funding will be provided by IHE’s shareholders, Themis, AFC and IHE Holding, a local development company. The IHE expects to complete the financing of the project by the end of the third quarter of 2021.
Eiffage the project’s contractors have been tasked to build a mixed rock and concrete dam that is 23.50m high and 1,374m long, forming a 105 million m³ reservoir. The dam will be built on the Bandama River, in the villages of Singrobo and Ahouaty between Abidjan and Yamoussoukro. The reservoir will be used to turn the turbines of a power plant capable of producing 44 MW.
As part of the contract, Eiffage Génie Civil and Eiffage Energie Systèmes will also build the discharge channel for the Singrobo hydroelectric power plant, the 90 kV switchyard, the 3 km line connecting the power plant to the grid, the temporary facilities and the access roads. The dam and power plant will be commissioned in 2023. The power plant’s output will be sold to the Ivorian electricity company (CIE) under a 35-year power purchase agreement (PPA). The overall project will take 36 months
