China based TBEA is set to invest 180 million euro ($210.24 million) in Gabon hydropower project. West African country’s sovereign wealth fund is also set to invest in this hydropower. The hydropower has a capacity fo 70 megawatts in the first phase, according to Liban Soleman, general coordinator of the Bureau of Coordination and Planning for an Emerging Gabon, who told Reuters in an interview in Beijing.
The project is also known as FE2 and is located in the north of Gabon near the border with Cameroon and Equatorial Guinea.
Gabon is a member of OPEC and pumps under 200,000 barrels of crude oil per day. Projected to grow by 2.2 % this year, Gabon is also one of the world’s biggest producers of manganese and is working to diversify the economy.
TBEA is a private company which is involved in wind power in China and solar power in Pakistan.
Headquartered in China, TBEA provides power energy, power transmission, renewable energy, new material, and energy solutions worldwide. Founded in 1993, TBEA manufactures and sells transformers, switches, electric wires and cables, cable accessories, integrated substation automation products, smart distribution grids, and charging facilities. TBEA employs around 15777 employs worldwide.