Equatorial Guinea signed a framework agreement on 3 November in Malabo with Chinese companies CMEC and Beijing Weineng Investment to develop a 500-megawatt-peak solar photovoltaic plant. The government puts the planned private investment at $750 million in an announcement released on 5 November.
The agreement covers financing, development, construction and operation of the proposed facility. The finance and electricity ministers signed on behalf of the state at a ceremony presided over by Vice-President Teodoro Nguema Obiang Mangue.
The government says the plant could double the country’s electricity generation capacity. It also plans technology transfer and training for young Equatoguinean professionals as part of the project.
Officials expect more than 1,500 direct jobs during construction and 300 permanent positions once the plant is operating.