• Market Watch

Government to pursue Baynes project

• 1 Month Ago - 2024-07-31 00:00:00

Government has advanced plans for the Baynes hydropower project and instructed the mines and energy ministry to sign an implementation agreement with its counterpart in Angola.
The development was announced by deputy information minister Modestus Amutse, who recently delivered the 12th Cabinet decision.
“Cabinet took note of the latest developments on the bi-national Baynes hydropower project and the cost-benefit analysis undertaken for the co-existence of the Baynes project and the Kudu-to-gas power project,” Amutse said.
He said Cabinet has approved, in principle, the signing of the Baynes Implementation Agreement and has mandated the mines and energy ministry to sign the agreement on behalf of the Namibian government, subject to its submission to Cabinet for final endorsement.
“Cabinet endorsed the transformation of the Baynes project office into the Baynes bi-national implementation unit to operate in collaboration with the permanent joint technical commission on the Cunene Basin,” he explained.

Approvals
Cabinet approved the establishment of the joint project office to be situated in either Windhoek or Luanda, Amutse added.
Cabinet also approved the selection of the public funding model as the preferred implementation office for the bi-national Baynes hydropower project, including the Baynes regulating dam.
Cabinet further approved expediting the commencement of the construction of the Baynes access road by not later than September 2024.
The finance ministry was also tasked with mobilising funding arrangements for the construction of the dam.
“Cabinet directed the ministry of finance to commence with the mobilisation for funding of Namibia’s obligation for the construction of the Baynes regulating dam and Baynes main dam, including sourcing additional funding for the construction of the road access to the Baynes project site,” he said.
Government will embark on the Baynes power project this year.