HomeIndustry SectorsFinance and PolicyBrazilian funding for Angolan hydroelectric facility

Brazilian funding for Angolan hydroelectric facility

Angola’s energy minister, João Baptista Borges, who recently visited Brazil’s capitol, says that two large projects have been registered for a Brazilian credit line to the country that is in total worth US$2 billion.

One of these is construction of a second hydroelectric facility on the Cambambe dam, in Kwanza Norte province. The dam was originally inaugurated on 6th October 1963, during the colonial period and the projected work will increase production capacity from 180 to 960 MW. The other project is the Laúca hydroelectric facility on the Kwanza River.

“Only Brazilian companies are eligible to use these resources,” notes the minister adding that the new credit lien increased Brazilian funding for goods and services exports to Angola to US$7.83 billion.

According to information from the Angolan government much of the Brazilian funding will be used in the energy sector, particularly to increase power production.

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