China to invest in Guinea Bissau biomass plant
China will invest $184 million dollars into a 30 megawatt biomass power plant in Guinea Bissau, according to a media report in Reuters.
"The funds are meant for construction of a biomass plant fed by two generators each with 15 ( sic.) kilowatt (MW) capacity," a statement from the Chinese embassy said, quoted in Reuters.
China will foot 93% of the bill for the project, while Guinea pays for the remaining 7%.
Guinea Bissau, a former Portuguese colony, suffers chronic power shortages that often leave its seaside capital Bissau in darkness.
China has pledged to put about $60 billion into African development projects. In 2015, Chinese President Xi Jinping announced a multi-billion dollar development initiative at a summit in South Africa, saying it would boost agriculture, build roads, ports and railways and cancel some debt.
China has already built Guinea Bissau's national stadium, main parliament building and a government palace.