Equatorial Guinea signs deal for 500MW solar plant
By the AFREEQUE newsroom, based on Ahora EG
Equatorial Guinea has signed a $750 million contract with Chinese companies CMEC and Beijing Weineng Investment to build a 500MWp photovoltaic plant. The project is expected to double national electricity generation capacity and create more than 1,500 jobs, according to Ahora EG.
Equatorial Guinea has signed a $750 million agreement with Chinese companies CMEC and Beijing Weineng Investment Co. Ltd to build a 500-megawatt solar photovoltaic plant. The ceremony was presided over by Nguema Obiang Mangue, vice-president of Equatorial Guinea, according to Ahora EG.
The plant is expected to double the country’s national electricity generation capacity and provide the energy needed for industrialisation and economic diversification. The project provides for more than 1,500 direct jobs during construction, followed by 300 permanent positions once it becomes operational, as well as a technology transfer and training programme for young Equatoguinean professionals, according to Ahora EG.
The agreement was signed on behalf of the government by the ministers for Finance, Budget and National Planning, and for Hydrocarbons, Mines and Electricity. Nguema Obiang Mangue attributed the investment to the government’s efforts to improve the business climate and attract foreign capital, according to the same media outlet.
