Congo's $9 Billion Hydropower Plant May Export Power to S. Africa

Congo's $9 Billion Hydropower Plant May Export Power to S. Africa | Renewable Energy News Article

renewableenergyworld.com 19 Oct '12, 8pm

Congo's $9 Billion Hydropower Plant May Export Power to S. Africa

The government will host a meeting next month to discuss three bids from companies including Sinohydro Corp. of China and Posco of Korea to build the 4,000-megawatt facility, said Vika di Panzu, a member of Congo’s Inga III Steering Committee. The plant will take six years to build and cost more than $9 billion, he said in an interview yesterday at the iPAD mining and infrastructure conference in Congo’s capital, Kinshasa. The Central African nation may finance the project with help from multilateral donors including the World Bank and the African Development Bank, and power-purchasing agreements from metal companies, with construction beginning by 2016, di Panzu said. Two previous plans to finance Inga III failed in the past decade, delaying its construction, he said. BHP Billiton Ltd., the world’s biggest mining company, in February abandoned a plan to build an aluminum ...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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