The Minister of Finance, Trade and Blue Economy, Américo Ramos, of the Democratic Republic of São Tomé and Príncipe, has officially announced the Power Sector Recovery Project, which aims to reform the energy sector in the country. The project includes the rehabilitation and expansion of the Contador Hydroelectric project and strengthening of the national utility Empresa de Agua e Electricidade de São Tomé e Príncipe (EMAE).
The Minister indicated that "this occasion marks the partnership of the World Bank and the European Investment Bank with the Government of São Tomé and Príncipe, to assist in the recovery of the energy sector, to increase the generation of electricity with renewable resources, and to improve the reliability of the electricity supply, with a shared vision of sustainable energy supply for all, respectful of the environment."
The World Bank is providing support to the Government in preparing a least-cost power development plan as a long-term master plan for the Ministry of Infrastructure and Natural Resources, which will define a roadmap for investment in additional generation capacity in order to meet the challenges of a growing demand in a vibrant economy. The project will also benefit from the results of an innovative domestic energy survey to understand the consumers'' energy use and their concerns to best address the interests of the beneficiaries.
The representative from the European Investment Bank, as co-financier, Chef de Division Afrique Sub-saharienne, Diederick Zambon, expressed, "EIB has a continued interest in supporting São Tomé and Príncipe, and the efforts to improve the transmission and distribution network to facilitate the access to energy and reduce losses in the system."
The project will be implemented by the Agência Fiduciária de Administração de Projectos from the Ministry of Finance, Commerce and Blue Economy, with a team that will ensure these resources are being utilized transparently for the benefit of all in the country.
The project comprises multiple schemes concerning power infrastructure and provides technical assistance for implementation, capacity building and sector reforms. The project aims to increase renewable capacity and reduce losses in the network while improving overall system security and safety of supply. This will be done by rehabilitating an existing 1.9 MW hydropower plant, upgrading the low and medium voltage distribution network, and installing electricity meters.
At the United Nations (UN) 5th Conference for Least Developed Countries (LDC5), the European Investment Bank (EIB) and the European Union (EU) announced new Team Europe support of €14 million to improve the water network on the island of São Tomé. The project, which is part of the EU''s Global Gateway strategy, is expected to bring economic, social and environmental benefits for the country and the communities concerned.
The European Investment Bank (EIB) has approved a €700 million loan to support the extension and modernization of Naturgy''s electricity distribution network in Spain. The first tranche of the loan, totaling €500 million, has been signed in Madrid. The financed project will expand and modernise the electricity distribution network and improve the reliability and security of supply.
The EIB has signed a USD 100 million loan agreement with the Government of the Dominican Republic to improve the electricity distribution system and the availability of power supply in the country. The three year project will improve the availability of power supply for over 680,000 households in the Dominican Republic.
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