Energy projects in Angola cost estimated US$29 billion

10 May 2016

Angola’s portfolio of energy and drinking water projects have an estimated cost of US$29 billion by 2025, said Monday in Luanda the minister of Energy and Water.

Minister João Baptista Borges pointed out that taking into the amount of resources needed to carry out all projects in the portfolio “it is necessary to rely on private investment for energy production as well as in the management of water distribution systems.”

Recognising that despite a slowdown in the progress of several projects due to the economic and financial situation in the country following a drop in oil prices, “the needs are still there, so it is necessary to see greater private investment in the sector.”

Baptista Borges stressed that Angola’s energy needs totalled 300 megawatts in 2000 but “currently exceed 1,000 megawatts,” and that supply has not kept up with demand, thus “ongoing investments in the electricity sector will help to increase supply.” (macauhub/AO)