Monday, May 20, 2024
Update At 14:00    USD/EUR 0,92  ↓-0.001        USD/JPY 155,77  ↑+0.152        USD/KRW 1.355,87  ↑+4.05        EUR/JPY 169,49  ↑+0.255        Crude Oil 84,06  ↑+0.08        Asia Dow 4.027,83  ↑+18.98        TSE 1.810,50  ↓-11        Japan: Nikkei 225 39.147,71  ↑+360.33        S. Korea: KOSPI 2.737,73  ↑+13.11        China: Shanghai Composite 3.166,08  ↑+12.0486        Hong Kong: Hang Seng 19.650,18  ↑+96.57        Singapore: Straits Times 3,39  ↑+0.009        DJIA 22,50  ↑+0.0593        Nasdaq Composite 16.685,97  ↓-12.333        S&P 500 5.303,27  ↑+6.17        Russell 2000 2.095,72  ↓-0.5318        Stoxx Euro 50 5.064,14  ↓-8.31        Stoxx Europe 600 522,94  ↓-0.68        Germany: DAX 18.704,42  ↓-34.38        UK: FTSE 100 8.420,26  ↓-18.39        Spain: IBEX 35 11.327,70  ↑+28.4        France: CAC 40 8.167,50  ↓-20.99        

Empowering the country

Article - September 19, 2012
With all the development taking place in Equatorial Guinea, its people are entering an age of enlightenment
The electrical sector in Equatorial Guinea was never one to boast about. However, the situation today is different; under the nation’s Horizon 2020 plan, a rapid turnaround is taking place.

Following a restructuring in 2001 and a total investment of more than $2 billion, EG has launched 20 electrification projects, embracing the full spectrum of the production, transportation, distribution and marketing of electricity. Gone are those days when electricity supply was a matter of national concern.

Previously under the control of SONER (National Rural Electrification Company) in rural areas and ENERGE (Electricity Corporation of Equatorial Guinea) in urban areas, the generation and distribution of electricity throughout the country were handed over to SEGESA (Electricity Company of Equatorial Guinea) when it absorbed the previous two operators in November 2001.

The capital of SEGESA is presently 70% publicly owned with 30% private participation, while plans for full privatization are being developed.

Established in Malabo, today SEGESA is the national electricity company serving the whole country. It operates two transmission networks; one of which is located on the island of Bioko, and supplies both Malabo and Luba, while the other is onshore.

So now, and due greatly to SEGESA’s efforts, the country can proudly boast of having an exemplary and enviable electricity supply system. Jose Maria Ondo, General Secretary of SEGESA, highlights the exceptional advances made by the company in recent years in furthering the country’s vision set out in the Horizon 2020 plan. “My greatest motivation and satisfaction is in seeing met the goals set forth by the great founding leader of the Democratic Party of Equatorial Guinea (PDGE) and President of the nation, Mr. Obiang Ngueme Mbasogo, in the Horizon 2020 plan,” he says.

The electrical infrastructure of the country’s transport system is 95% fully executed and operative and the extension of the turbo-gas center is over 90% complete and currently producing 120 MW daily. Moreover, in the continental region over 90% of the population has access to electricity following the development of stations in Djiblo and Sendje, among others. With improved road conditions transport and access have been greatly facilitated.

SEGESA’s Insular Deputy Regional Director, Julian Mbomio, comments on the benefits that, once completed, these stations will provide for citizens. “These will undoubtedly bring prosperity and welfare to the overall population,” he says. “The benefits are already starting to show.”

The remarkable progress made under the rule of President Obiang is truly appreciated when one compares the situation today with that of several years ago. SEGESA’s General Secretary recalls the lack of power supply to satisfy the level of demand just a few years back. There was insufficient electricity generation capacity throughout the country, a reality which forced recurring power cuts to be made. The entire population depended on just one working turbo gas station, located in Malabo and that produced 28MW.

Mr. Mbomio notes on the company’s achievements: “We now have power in the country, something which we did not have a short while back, and this is the key tool which has enabled us to relaunch our country’s economy.”

Not only is SEGESA able to count on full government support, the company also benefits from the country’s cooperation with China and cooperative exchanges of technical know-how with Cuba.