AIIM Hydroneo, a 50/50 joint venture between African Infrastructure Investment Managers (AIIM) and Hydroneo Afrique, has announced plans to develop, finance, build and operate a number of hydroelectric power plants in Gabon.

Romain Py, AIIM Hydroneo Drector, said: “The expansion of hydroelectric power plants in Gabon paves the way to better serve the growing energy demands of the country and facilitate the country’s long-term economic growth.”

“We’re excited to have the opportunity to further develop the infrastructure that can enable this progression,” he added.

AIIM Hydroneo has secured the exclusivity of a number of project sites including Kinguélé Aval, and has started the relevant studies to successfully develop the sites it has secured.

The agreement was signed via a memorandum of understanding on January 27, 2016 between AIIM Hydroneo and the Gabonese government represented by the Minister of Energy.

The JV between AIIM, an African infrastructure equity investment manager and Hydroneo Afrique, a wholly-owned subsidiary of MECAMIDI, an established global manufacturer and developer of small and medium hydro power plant equipment, will facilitate the development of a pipeline of small and medium hydro power plants in Cameroon, Cote d’Ivoire, Gabon, Guinea and Mozambique.

With a total investment of approximately $500m, these projects are expected to represent a total installed capacity of 200 MW over the next five years.

"AIIM Hydroneo have secured around a dozen projects throughout Gabon and Cameroon. Those projects will collectively generate circa 100MW on completion," Py said.

Py added he expects projects to become operational in 2016/17, subject to a number of procedures and events synonymous with infrastructure projects.