Liberia announced over a year ago that it was in talks with Brazilian mining giant to help rehabilitate its Mt Coffee hydrodam after suffering from two civil wars that combined lasted over a decade. And while Vale SA pulled out of negotiations, the European Investment Bank (EIB) said it is close to approving a €50-million loan for the project.
The 64-MW dam could cost as much as €180 million and could increase the country’s power generation sector from its current 23 MW of generating capacity. EIB VP Pim van Ballekom said the deal could be approved by the end of 2012.
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