Angola needs US$17 billion to invest in power production by 2016

30 June 2011

Luanda, Angola, 30 June – The construction of new electricity facilities in Angola until 2016 requires investment of at least US$17 billion, the chief executive of Angolan electricity company ENE, Joaquim Ventura, said cited by state newspaper Jornal de Angola.

During the Angolan Investment Forum, held as part of the General shareholders Meeting of the Afreximbank, Ventura said that the figure included construction of power plants, transmission and distribution grids across the entire country, taking into consideration that current production capacity is not enough to meet demand for electricity.

“Most of the distribution grids in Angola are old and that is why we have a poor quality service. Most of the grids were built before independence and the country now has a very low electrification rate,” said Joaquim Ventura adding that Luanda accounted for 88 percent of electricity consumption in the country.

Jornal de Angola said that by 2016 power generation facilities would be operating with a generation capacity of 7,000 megawatts, both from hydroelectric facilities and thermal plants, and that 2 million domestic grid links would be made.

During his speech, Ventura said that there were projects in rural areas that were still waiting for participation of private companies, specifically those based on solar energy in Namibe province, which will have an installed capacity of 200 megawatts and, along with other electricity sources, would supply electricity to the south of the country. (macauhub)