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CDB provides $830 million loan for 300 MW Amaria Hydropower Plant Construction Project
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Amaria Hydraulic & Electrical Development Corporation SAU |
| Country | Guinea |
| Start Date | Jan 01, 2020 |
| End Date | Mar 07, 2030 |
| Duration | 3,718 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 95558 |
Grant Description
CDB provides $830 million loan for 300 MW Amaria Hydropower Plant Construction Project On April 30, 2019, Amaria Hydraulic & Electrical Development Corporation SAU (la Société Amaria Hydraulic and Electrical Développement corporation SAU or AHDEC SA or 阿玛利亚水电开发公司 or 阿玛利亚水电开发股份有限公司) — a special purpose vehicle and wholly-owned subsidiary of China's TBEA Co., Ltd. — signed a concession agreement for the 300 MW Amaria Hydropower Plant Construction Project.
In 2020, China Development Bank (CDB) subsequently issued an $830 million loan to Amaria Hydraulic & Electrical Development Corporation SAU for the 300 MW Amaria Hydropower Plant Construction Project.
The loan is reportedly backed by a Sinosure credit insurance policy and collateralized against a $30 million minimum cash balance in a debt service reserve account (DSRA) prior to the commissioning of the power plant.
The borrower (Amaria Hydraulic & Electrical Development Corporation SAU) also signed a power purchase agreement (PPA) with the state-owned power utility, Electricité de Guinée (EDG), and the Government of Guinea guaranteed the power purchase payments under the PPA. The total cost of the independent power plant (IPP) project is $1,154,030,000.
It is being built on a build-operate-transfer (BOT) basis and financed according to a debt-to-equity ratio of 82:18.
The purpose of the project is to construct a 300 MW hydroelectric power plant that is located downstream along the Konkoure River. The power plant is expected to provide power for a 30 metric tons per year bauxite mine and an aluminum smelter. TBEA is the contractor responsible for project implementation.
Civil works commenced on January 19, 2018.
The project was originally expected to reach completion within 56 months (September 19, 2022) and create 10,000 direct jobs.
Aly Seydouba Soumah, Guinea Minister of Energy, Hydropower and Hydrocarbons, conducted a project site visit on November 26, 2022.
Staff Comments
- The French project title is Les travaux du barrage hydro-électrique intégré d’Amaria. The Chinese project title is 特变电工集团几内亚阿玛利亚水电站项目 or 几内亚阿玛利亚水电站项目 or 特变电工几内亚水电站项目 or 几内亚阿玛利亚水电站 or 几内亚阿玛利亚水电站特 or 特变电工集团几内亚阿玛利亚水电站项目 or 阿玛利亚项目.
- For the time being, AidData assumes that the financial (loan) commitment year was 2020, given that law firm source (https://www.dropbox.com/s/d01jv08hswh2mal/SSQ%20ALB%20China%20Law%20Awards%202020%20_%20Asian%20Legal%20Business.pdf?dl=0) with first hand knowledge of the transaction seems to suggest that financial close was achieved in 2020.
- Some sources suggest that a syndicated loan was issued by China Development Bank and China Eximbank for the 300MW Amaria Hydropower Plant Construction Project. This issue warrants further investigation.
- The estimated borrowing terms are based on a public filing by TBEA on April 30, 2019 (see https://q.stock.sohu.com/cn,gg,600089,3694943539.shtml).
Sources & References
- 特变电工《阿玛利亚水电站特许经营权协议》获几内亚议会批准
- 特变电工：对外投资公告
- 特变电工11.54亿美元在几内亚投建水电站项目
- 特变电工与几内亚政府签署阿玛利亚水电站特许经营权协议
- 特变电工股份有限公司对外投资公告
- 盘点：2019中资企业海外10大投建营（PPP/BOT)项目
- 几内亚国民议会批准特变电工与几内亚政府签署的《阿玛利亚水电站特许经营权协议》
- 签约25.71亿美元 中非基础设施加深合作
- Energie : la convention de concession du barrage Amaria signée
- Infrastructure
- Energy & Projects
- Guinée : démarrage des travaux du barrage hydroélectrique d'Amaria à Dubreka
- Mines : un nouveau leader de la bauxite en Guinée
- TBEA promet un un projet intégré de 10 milliards USD
- Guinea Evergreen Mining Intelligence
- Amaria hydroelectric dam concession agreement
- China Business Law Awards 2020
- TBEA to Invest USD 1.15 bln on Hydropower in Guinea
- 几内亚阿玛利亚尾水料场项目通过完工验收
- 几内亚阿玛利亚尾水料场项目超额完成月度任务获业主感谢信
- MINES : DEFI DE LA TRANSFORMATION DE LA BAUXITE EN GUINEE
- TBEA PORTE UN PROJET INTEGRE POUR LA GUINEE
- Guinea ministry speaks highly of Amaria Hydropower Station
- Electricité/ La convention de concession du barrage Amaria signée, 2019年中企新签了哪些海外投资类大项目？
- LISTE-DES-CFA-DNI-02-SEPTEMBRE-2019
- LISTE-CFA-MARS-2019-
- LISTE DES CFA-JUILLET 2020, 'Société Amaria Hydraulic'
- 中国水利水电第三工程局有限公司-国内金融机构代表团到几内亚苏阿皮蒂项目调研
- Mariama Toupe Bah
- Energy
- SSQ ALB CHINA LAW AWARDS 2020
- 几内亚阿玛利亚项目提前完成开挖任务获业主喜报
- Guinea: Bauxite developer signs dam concession agreement
- Conakry le 04 Juillet 2019. L/2019/0037/AN Loi autorisant la ratification de la convention de concession (Développement de l’Aménagement Hydroélectrique d’Amaria) entre la République de Guinée ...
- 网易财经_手机网易网
- BARRAGE HYDRO-ÉLECTRIQUE D’AMARIA : Des riverains impactés par le projet manifestent leur mécontentement
- 湘企出海+综合服务平台
- CONVENTION DE BASE
- Christina Karaouni - Associate ADNA, 300-600 MW Amaria hydropower Facility in Guinea Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Amaria Hydraulic & Electrical Development Corporation SAU
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