Energy projects in Angola at a cost of 29 billion Dollars

Energy projects in Angola at a cost of 29 billion Dollars

05/10/2016 source “MacauHub”

The projects of energy and water supply in Angola have an estimated cost of 29 billion Dollars until 2025, said the Minister of Energy and Water, João Baptista Borges.

The minister pointed out that, considering the large size of the resources required to perform all the projects in portfolio, “it is necessary to rely on private investment in the energy production sectors, as well as in water distribution systems and management”.

Despite the slowdown in the progress of several projects due to the economic and financial situation in the country caused by the fall in oil prices, the fact is that “the needs remain, and so there must be a greater increase of private investment in the sector”, acknowledged the minister.

Baptista Borges pointed out that, if the energy needs of Angola were 300 megawatts in 2000, currently they are “beyond the thousand megawatts”; it is certain that the supply has not kept pace with the demand, so the “ongoing investments in the electricity sector will help to increase the offer”.