IDG Studies Sounda Hydro Project Financing

The Republic of Congo’s (ROC) hydro-power generation capacity may get a boost from Industrial Development Group (IDG). The South African company is currently studying financing for the construction of a 1,200 MW hydroelectric dam it wants to construct in the ROC.

The Sounda Gorge project would enable the ROC to become a regional power exporter, if it becomes reality. Plans in the past for the dam have fallen to the wayside due to perceived instability in the country, although IDG has the current administration’s support.

"Technically, we are ready," IDG’s chief executive Mxolisi Mbetse told reporters after a meeting with government energy officials in the ROC. "I will now leave things to our finance department and by June or July you will see lots of activity here in Congo."

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