11 October 2013 – China has continued to be a major investor in power sector projects across Africa over the past year.
In July 2013, Chinese firm Sepco III signed a deal to build a 318 MW coal fired plant in eastern Morocco as part of a plan to cope with that country’s rapid growth in electricity demand. The total cost of the project is to be US$360 million and will be primarily funded by the China Exim Bank.
In January 2013, the government of Cote d’Ivoire announced that it had secured a US$500 million loan from China Exim Bank for the country’s largest dam to be built by Sinohydro. Work commenced on the 275 MW plant at Soubre in the same month and will continue for more than four years, with operations scheduled to begin by late 2017 or early 2018.
In November 2012, the Nigerian government signed a memorandum of understanding with two Chinese firms, Sinohydro and Gezhouba, to build two hydroelectric power stations in that country. These are the 3,050 MW facility at Mambilla and a 700 MW power station in Zungeru. China Exim Bank will finance 85% of the US$3.2 billion Mambilla project, while Zungeru is mainly being financed on a long term export credit loan from China Exim Bank.
In September 2012, the Tanzanian government signed a memorandum of understanding with China over the construction of a US$1.2 billion natural gas pipeline from Mnazi Bay in the Mtwara region to Dar es Salaam. The signing was a follow up to the commercial loan agreement the government of Tanzania previously signed with China Exim Bank.