Construction of a 450-MW hydroelectric power plant in Guinea has received a major boost after the Export-Import Bank of China approved $1.3 billion in project financing. China International Water and Electric (CWE) is constructing the plant under a contract awarded in 2015.
The bank will provide funding for the Souapiti hydropower plant, the second such project in Guinea after the 240-MW Kaleta project, built six kilometers downstream on the Konkoure River, came online in 2015 after 48 months of construction by CWE. However, neither CWE nor the bank could immediately divulge details on the funds disbursement and repayment schedule.