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The World Bank has committed US$512 million to Angola to finance an expansion of the Cambambe hydropower project.
The funding, provided by the World Bank through its Multilateral Investment Guarantee Agency (MIGA), is a 13-year credit facility.
The money will pay for a 700 MW expansion that is being called the Cambambe 2.Voith Hydro had been awarded a $130 million contract to supply four generators and turbines for the project.
The Cambambe 2 project will be located on the Kwanza River and will also benefit from financing from Russia, HSBC Bank, Societe Generale and BHF-Bank Aktiengesllschaft.
News date: 12/07/2013