Overview

Sinohydro pledges $165 million loan for 62 MW Power Plant Project

Commitments (Constant USD, 2023)$175,580,853

Commitment Year•2017Country of Activity•GambiaDirect Recipient Country of Incorporation•GambiaSector•EnergyFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Apr 21, 2017

Start (planned): Apr 21, 2017

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned companies

Sinohydro Corporation Limited

Receiving agencies

Government Agencies

Government of Gambia

Implementing agencies

Government Agencies

Ministry of Petroleum and Energy, Gambia

Joint Venture/Special Purpose Vehicles

Gambia National Water and Electric Company (NAWEC)

Loan desecription

Sinohydro pledges $165 million loan for 62 MW Power Plant Project

Interest type•Unknown

Narrative

Full Description

Project narrative

On April 21, 2017, Sinohydro Corporation and National Water and Electricity Company (NAWEC) signed an agreement regarding a possible $165 million loan for a 62MW Power Plant to supply power in the Greater Banjul Area. The Gambian Ministry of Petroleum and Energy was also involved in this agreement, which may have been a Memorandum of Understanding (MOU). This power plant will be an HFO power plant. The project also seeks to connect the OMVG energy project and the West African Power Pool, while also renovating the energy distribution infrastructure in the Gambia. The loan details of the project are not known. In March 2016, before the agreement on the project was signed, Gambia's Ministry of Energy met with Sinohydro to discuss the power plant. There is no clear evidence that this pledge ever resulted in a loan agreement (official commitment).