KPDC seeks IFC to finance extension of Kribi gas plant

The Kribi Power Development Corporation (KPDC), controlled by Globeleq business, that manages the Kribi gas plant with an installed capacity of 216 MW, hopes to conclude no later than the first quarter of 2015, a long-term loan with the International Finance Company (IFC), to finance the expansion of the plant, learned the agency Ecofin.

To mobilize all the 65 billion CFA francs required to bring the capacity of the plant to 330 MW, we learn that KPDC also negotiates with local banks to open credit lines to complement the long-term loan expected by IFC.

According to sources ongoing negotiations with local banks are expected to close in October 2014 and the market to extend the Kribi gas central was given to the Finland Company Wartsila, one of the world leader of energy solutions and manufacturer of the plant, which costs 173 billion CFA francs.