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    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.

    Link to source

    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

    Link to source

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    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.

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    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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