| Project Detail |
The project is included in the Banks Indicative Operational Program for the period 2024-2026. The energy sector is a priority for the Government of the Republic of Equatorial Guinea as it aligns with the pillars [(ii) Social inclusion and sustainable peace and (iii) Production, productivity and industrialization] of the National Economic and Social Development Plan (PNDES) for the period 2020-2035. The Country Strategy Paper (CSP) for the period 2023-2028 aims to support the economic diversification of the RGE for green, inclusive and resilient growth with a view to accelerating the countrys structural transformation. To achieve this objective, the following two priority areas are proposed for the Banks interventions during this period: Pillar 1 “Promoting value chains with high growth and job creation potential” and Pillar 2 “Developing human capital and governance in support of inclusion.” The development of the energy sector is therefore essential for the achievement of the CSP, especially for pillar 1. Through the optimal investment program that will result from the master plan, the Bank could therefore identify operations in the energy sector. Project Objectives The project aims to: (i) develop a forecast of electricity demand taking into account the countrys needs (households and industry); (ii) propose an optimal mix for the power generation fleet, taking into account the countrys potential and emphasizing renewable energy, but also options for interconnection and trade with neighboring countries; (iii) determine a target network for electricity transmission and distribution by 2040, indicating the intermediate stages. interconnection and trade with neighboring countries; iii) to determine a target electricity transmission and distribution network for 2040, indicating intermediate development stages in 2030 and 2035 with a view to achieving the target access rates; iv) develop a short-, medium- and long-term investment program; iv) assess the cost of the investments required to implement the recommended projects at each stage of the electricity systems development (2030 and 2035); v) assess the capacity of the electricity sector to finance the proposed investment program in relation to changes in electricity sales prices; and vi) assist the Ministry of Electricity and Renewable Energy (MEER) in managing studies for the development of the electricity system (production, transmission, and distribution). |
