en.Wedoany.com Reported - Trafigura has withdrawn from a cross-border power transmission project in Angola. According to two sources directly familiar with the matter who spoke to Reuters, the commodity trader is no longer involved in a planned 2,000-megawatt transmission line intended to transport Angola's surplus hydropower to copper and cobalt mining areas in the Democratic Republic of Congo and Zambia.
At least three such multi-billion-dollar transmission projects backed by private capital aim to connect Angola's vast idle hydropower resources to the power-starved critical mineral operations in two neighboring countries. In July 2024, Trafigura signed a non-binding agreement with engineering firm ProMarks and the Angolan government to conduct a feasibility study for the project.
"Trafigura has abandoned the project," said one industry source. Another source within the Angolan government confirmed the withdrawal, adding that the project remains under negotiation, "with some adjustments made to the composition of the consortium members interested in executing the contract."
The Ministry of Energy and Water did not respond to requests for comment, and it remains unclear whether the government will proceed with the project. Trafigura (a member of the Lobito Corridor railway consortium responsible for transporting critical minerals from the Democratic Republic of Congo to Western markets) replied "no comment" when asked if it still supports the project. ProMarks also did not respond to requests for comment.
Two other transmission lines developed by Meridia Energy (a joint venture between Dubai's Averi Finance and Morocco's Somagec) are moving forward and may fill part of the gap. According to officials, these projects will connect Angola's national grid to Kolwezi, a major copper and cobalt production hub in the Democratic Republic of Congo, while also linking Angola to the Southern African Power Pool and strengthening the Lobito Corridor. The lines will also reinforce the grid in Angola's oil-rich Cabinda province and connect the northern city of Soyo to the Democratic Republic of Congo. Specific projects include the $450 million Soyo-Inga-Cabinda line (800 MW capacity) and the $1.25 billion Lauca-Kolwezi line (1,400 MW capacity).
"Our goal is to achieve commercial operation for both lines by 2030," Averi's Chief Investment Officer Joao Alvares told Reuters. U.S. company HYDRO-LINK also plans to build an interconnection line between Angola and the Democratic Republic of Congo, primarily supplying low-cost, reliable power to the mining provinces of Lualaba and Katanga. This $1.5 billion project, approximately 1,200 kilometers (746 miles) long, includes five substations, with a construction period expected to take about two and a half years.
