Guinea-Conakry’s Minister of Energy to Deliver Keynote Address at African Energy Week 2024 Conference
The African Energy Week (AEW): Invest in African Energy 2024 conference is set to be a game-changer for Guinea-Conakry’s energy sector. With Minister of Energy, Hydropower and Hydrocarbons Aboubacar Camara delivering a keynote address, the country’s efforts to diversify its energy portfolio and attract investments will be in the spotlight.
Guinea-Conakry is finalizing a 22-block bid round to boost exploration and increase investments in its onshore and offshore assets. With favorable fiscal terms and comprehensive seismic data packages, the country is poised to attract a wide range of investors. Minister Camara will provide insight into emerging block opportunities during the conference, engaging with global investors and project developers to advance exploration in this frontier market.
Infrastructure development is also a key focus for Guinea-Conakry, with plans to establish an LNG terminal at Port of Kamsar. This $300 million project, operated by the West African LNG Group, will include import and export terminals, as well as a gas-fired power plant to support proposed alumina refineries in the country. This strategic infrastructure project will not only enable the import of regional LNG but also support energy security and economic growth by powering industries such as mining.
Advancements in the power sector are also on the horizon, with the French Development Agency approving a €60 million loan to improve electricity access in Forest Guinea. This financial support aims to expand energy services to urban and rural areas, enhancing economic development and improving the quality of life for many Guineans. Additionally, Guinea-Conakry is collaborating with Russian nuclear energy firm Rosatom to deploy floating nuclear power plants, addressing the growing energy demand and enhancing energy security.
Renewable energy is also a focus for Guinea-Conakry, with plans to add 500 MW of solar energy to its grid and develop hydropower projects such as the Souapiti Hydropower Station, Amaria Hydropower Project, and Koukoutamba Dam Project. These projects aim to enhance the nation’s electricity generation capacity and support sustainable development.
Minister Camara’s advocacy for Guinea-Conakry’s role in regional energy development and opportunities for sustainable growth and investment will be a highlight of the AEW: Invest in African Energy 2024 conference. With a dedicated platform exploring investment opportunities across the region, stakeholders and energy companies will have the opportunity to engage with key experts and discuss recent energy developments, upcoming initiatives, and favorable regulations to attract new players to invest in the region’s energy sector.
Overall, Guinea-Conakry’s commitment to advancing its energy sector and attracting investments showcases a forward-thinking approach that will not only drive economic growth but also strengthen regional energy cooperation. Stay tuned for more updates on the exciting developments in Guinea-Conakry’s dynamic energy sector at the AEW conference.
