Namibia to sign pact on joint power project

JOHANNESBURG – The energy ministers of Angola, Botswana, the Democratic Republic of Congo (DRC), Namibia and South Africa will sign an agreement about a joint power project today.

The project, known as the Western Power Corridor Project is being put together by the power utilities of the five countries and is intended to provide low cost, environmentally friendly energy. It is also meant to ensure that economic development in the region is not constrained by energy shortages and is part of the New Partnership for African Development, a statement by the Department of Minerals and Energy read.Its goals include building hydro-power stations in the DRC, Angola and Namibia and increasing trade in electricity by investing in joint venture projects that allow sharing of capital costs.The participating countries will also sign an inter-utility memorandum of understanding to allow the formation of a joint venture company to be registered in Botswana’s capital Gaborone with a 20 per cent shareholding by each of the utilities.During the meeting in Sandton, Johannesburg the ministers will also discuss the phasing out of leaded petrol in the region, the statement read.- Nampa-SapaIt is also meant to ensure that economic development in the region is not constrained by energy shortages and is part of the New Partnership for African Development, a statement by the Department of Minerals and Energy read.Its goals include building hydro-power stations in the DRC, Angola and Namibia and increasing trade in electricity by investing in joint venture projects that allow sharing of capital costs.The participating countries will also sign an inter-utility memorandum of understanding to allow the formation of a joint venture company to be registered in Botswana’s capital Gaborone with a 20 per cent shareholding by each of the utilities.During the meeting in Sandton, Johannesburg the ministers will also discuss the phasing out of leaded petrol in the region, the statement read.- Nampa-Sapa