Trafigura Withdraws From 2,000 MW Angola-DRC-Zambia Power Line Project
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Trafigura has withdrawn from a planned 2,000-megawatt power transmission line linking Angola to copper and cobalt mines in the Democratic Republic of Congo and Zambia. Reuters reported the withdrawal on Wednesday, July 15, citing two sources familiar with the matter.
The Swiss commodities trader and its engineering partner, ProMarks, have not commented on the withdrawal. An Angolan government official confirmed Trafigura’s exit and said negotiations were continuing as the makeup of the consortium interested in carrying out the project changed.
In July 2024, Trafigura signed a nonbinding memorandum of understanding with ProMarks and the Angolan government to conduct technical and economic feasibility studies for the line. The project was designed to carry surplus hydropower generated by dams in northern Angola to mining areas in the DRC and Zambia while connecting to southern Africa’s regional power grid.
The electricity was to be sold to mining companies operating in the region, particularly copper and cobalt producers. Both metals are essential to the production of electric vehicle batteries.
Trafigura’s withdrawal does not mark the end of plans to expand electricity links between Angola and the DRC. Two alternative projects are moving forward, Reuters reported. Meridia Energy, a joint venture between Dubai-based Averi Finance and Moroccan construction group Somagec, is developing both transmission lines.
Source: Wikipedia