UK Government Disburses USD 172 Mn To Fund Major Electricity Project In Angola
As of 2016, Angola was reported to have an electricity access rate of 40.52 percent, this is according to the World Bank collection of development indicators.
Access to electricity in Angola remains generally low despite investments pumped to boost the sector. The limited electricity access is costing companies as some of them are forced to rely on expensive generators in order to carry out operations.
Access to sustainable energy is vital as it enables even the poor to earn income since it pushes for growth and expansion of job opportunities.
The Southern African country is, however, keen to increase the availability of electricity as earlier, it instituted an ambitious infrastructure plan.
The João Lourenço-led country is set to receive a major boost from the United Kingdom to fund new development projects.
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UK through the UK Export Finance (UKEF) has announced the release of USD 172.2 Mn to fund new development projects in Angola.
The investment includes USD 101.6 Mn which will be channeled to support Glasgow-based utility contracting service IQA to install new electricity infrastructure in Northern Angola.
The project is part of the Angolan government’s efforts to improve electricity supply and will provide 7,000 Angolan homes with electricity.
UKEF’s head of civil infrastructure and energy Adam Harris says: “These are the first projects that UKEF has supported in Angola, and [they] are priorities identified by the Angolan government. The first projects with any new customer always take the longest to come to fruition because it takes time to build up an understanding of each other’s requirements and ways of working.”
The project will focus on constructing five new transmission lines and upgrading sub-stations in the Kwanza Norte Province of Angola.
IQA’s managing director Antonio Henarejos said: “This is a second IQA contract in Angola supported by UKEF and their help is critical to our ambitious plans for international growth. We’re delighted to be delivering this project, which will improve power provision in Angola and support Scottish jobs.”
Featured Image Courtesy: Mozambique Resource Post
