EIB grants EUR330mn support for Guinea-Mali interconnector project in West Africa

The Guinean government, representatives of the European Union, and the European Investment Bank (EIB) have signed a financing contract for the development of a Guinea-Mali interconnector project in West Africa. 

The latest EIB support for sustainable energy in Africa includes a new EUR170 million (US$205.49 million) 25-year loan for the 225 kV Linsan-Fomi transmission line, representing the largest ever EIB financing for investment in Guinea, as part of EUR300 million (US$362.63 million) total EIB support for the Guinea-Mali interconnector project (PIEGM). This is alongside EUR30 million (US$36.26 million) in EU grant support under the External Investment Plan.

The new 340 km, 225 kV transmission line traversing Guinea from west to east between the Linsan (Labé region) and Fomi (Kankan region) substations will link the Kaléta and Souapiti hydroelectric power plants (with a total capacity of 690 MW), as well as other facilities, to the West African Power Pool. It will include long-distance transmission links (also financed by the EIB) to Mali, Senegal, and the Gambia to the west and north, and Côte d’Ivoire, Liberia, and Sierra Leone to the east and south.

The total EUR300 million (US$362.63 million) EIB financing and EUR30 million (US$36.26 million) EU grant support for the 225 kV Guinea-Mali interconnector will complement financing provided by Guinea and Mali, as well as the World Bank, the African Development Bank, the West African Development Bank, and ECOWAS Bank for Investment and Development.