By: Nghiinomenwa-vali Erastus
Namibia and Angola are yet to secure funding for the Baynes Binational Hydropower Project with less than three years remaining before the project construction begins in 2027.
Mines and Energy Minister Tom Alweendo there is still time to source funds and he projected that funding could be secured by the end of 2026.
The construction of the dam is scheduled to begin in early 2027, pending successful funding arrangements.
The two governments signed the Baynes Implementation Agreement in Windhoek on Monday, following Cabinet approval of the project.
This agreement legally binds both governments to see the project through to completion.
Alweendo stated that “the next milestone target is securing funding and reaching financial close by end 2026, and commencement of construction of the dam during the first quarter of 2027”.
Comments