Asonha Energie

What Asonha Energie does

Asonha Energie is a Gabonese Special Purpose Vehicle (société anonyme de droit Gabonais) created in July 2018 as a joint venture between Gabon Power Company (GPC), the infrastructure subsidiary of the Fonds Gabonais d'Investissements Stratégiques (FGIS), and Meridiam, a French mission-driven infrastructure investment firm. The company was established exclusively to develop, finance, construct, operate, and maintain the Kinguélé Aval hydroelectric project — a 35 MW run-of-river facility on the Mbei River, approximately 90 km east of Libreville in Gabon's Estuaire Province. The project's technical configuration comprises a ~48m mixed gravity embankment dam, a semi-buried powerhouse housing three Francis turbines rated at 12.2 MW mechanical power each (nominal net head 43m, flow 15–30 m3/s), a 225kV substation, and approximately 200m of transmission line connecting to the existing Kinguélé–Libreville grid. The asset represents roughly 7% of Gabon's total installed electrical capacity and is sized to satisfy approximately 13% of Libreville's electricity demand.

The company's commercial model is a 30-year Build-Own-Operate-Transfer (BOOT) public-private partnership awarded through a competitive tender in 2018 and formalized by the 2019 Contrat de Partenariat and Contrat d'Achat d'Énergie Électrique (PPA) with the Gabonese State, which acts as the sole off-taker via the national grid. Construction is executed under a turnkey EPC contract with Sinohydro and is monitored by an EDF-Artelia owner's engineer joint venture; financing was arranged in July 2021 via a syndicate of IFC, the African Development Bank (AfDB), DBSA, and EAIF, with the first disbursement tranche received in November 2023. Construction officially began on 8 December 2021 with a 40-month build schedule and successive turbine commissioning. The company is currently in the construction phase, has 14 employees per firmographics, and operates from headquarters in Libreville at 2080 Boulevard de la Nation.

The company does not employ consumer-facing marketing or distribution channels; revenue mechanics depend entirely on regulated PPA payments from the Gabonese government over the concession period. The environmental and social framework (EIES, PGES, Biodiversity Action Plan, Livelihood Restoration Plan, Stakeholder Engagement Plan) is designed to comply with both Gabonese regulation and international DFI standards, given that part of the reservoir lies within the Monts de Cristal National Park (PNMC) and its buffer zone. Governance is split between GPC and Meridiam, with board representation from both shareholders and a Chairman drawn from GPC's Director General.

Name

Asonha Energie

Legal name

Asonha Energie

Website

https://asonha.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Asonha Energie is a Gabonese Special Purpose Vehicle jointly owned by Meridiam and Gabon Power Company (FGIS) that builds, finances, operates, and will transfer the 35 MW Kinguélé Aval hydroelectric plant on the Mbei River under a 30-year BOOT concession, selling all output to the Gabonese national grid under a long-term PPA.

Ownership category

akta.pro rank

Product category

Hydroelectric Power Generation

NAICS

Hydroelectric Power Generation (221111), Electric Bulk Power Transmission and Control (221121)

SIC

Cogeneration Services & Small Power Producers (4991), Engines & Turbines (3510)

akta.pro primary industry

Wind Balance-of-Plant EPC (Crane Pads, Turbine Foundations, Internal Roads) (EUAEADAI)

akta.pro secondary industries

Substation & Interconnection EPC (Collector/POI Substations, Switchyards) (EUAEADAC), Transmission Interconnection & Line Works (Gen-Tie Lines, Overhead/Underground Lines) (EUAMAFAF), Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK), Civil & Site Works EPC (Earthworks, Roads, Drainage, Foundations) (EUAEADAA)

Keywords

• Hydroelectric power generation
• Renewable energy infrastructure
• Public-private partnership utilities
• Power purchase agreements
• Clean electricity generation

Headquarters

HQ city

Libreville

HQ country

Gabon

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Technology or R&D, Personnel, Operations, Supply Chain

Revenue model

1. Electricity generation and sale under long-term Power Purchase Agreement (PPA): Asonha Energie generates electricity via the Kinguélé Aval hydroelectric plant and sells it to the Gabonese government under a long-term electricity purchase agreement (contrat d'achat d'énergie électrique) signed as part of the 2019 PPP framework. Revenue is generated over a 30-year concession period (BOOT model). The company is also responsible for constructing, financing, operating, maintaining, and transferring the asset. First financing tranche from international lenders received in November 2023.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Asonha Energie is a Special Purpose Vehicle (SPV) created to develop, finance, construct, operate, and maintain the Kinguélé Aval hydroelectric power plant (35 MW installed capacity) on the Mbei River in Gabon. Under a 30-year BOOT (Build-Own-Operate-Transfer) Public-Private Partnership with the Gabonese State, the company generates and sells electricity exclusively to the national grid under a long-term Power Purchase Agreement, while also delivering associated transmission infrastructure including a 225kV substation and grid connection.

Differentiator

Problem solved

Functional benefit

Products and services

• Kinguélé Aval Hydroelectric Power Plant A 35MW run-of-river hydroelectric facility on the Mbei River, 90 km east of Libreville, Gabon, comprising a mixed gravity embankment dam (~48m high), a powerhouse with three Francis turbines (12.2 MW each at 43m net head), and integrated environmental and social management systems. Generates and sells clean, decarbonized electricity to the Gabonese national grid under a 30-year BOOT concession.
• Electricity Transmission Infrastructure Construction of electrical energy transport infrastructure connecting the Kinguélé Aval plant to the existing Kinguélé–Libreville national grid, including a 225kV substation (70m x 80m platform at 27NGG altitude) and approximately 200 meters of transmission line. Built on behalf of the Gabonese State as part of the partnership contract.

Quantifiable outcome

• 35 MW of installed hydroelectric capacity — 7% of Gabon's total power and ~13% of Libreville's electricity needs
• +3 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Sinohydro CorporationcoreImplementation/ SI/ Consulting Partner · 1 January 2021Sinohydro is a Chinese state-owned engineering and construction enterprise specializing in hydroelectric projects. Asonha awarded Sinohydro a turnkey EPC (Engineering, Procurement, Construction) contract for the Kinguélé Aval dam and grid connection infrastructure. Sinohydro has also committed to preferential local Gabonese employment through a 2021 agreement signed with the Office National de l'Électricité (ONE). In October 2021, Sinohydro signed a Local Content Agreement with ONE to maximize employment and economic benefits for Gabonese workers and suppliers.
• EDF-Artelia Joint VenturecoreImplementation/ SI/ Consulting PartnerThe EDF-Artelia consortium was engaged by Asonha Energie to provide owner's engineer services (Assistance à Maîtrise d'Ouvrage). The joint venture delivers technical, administrative, commercial, and financial assistance related to EPC contract execution and oversight, ensuring the dam construction meets design specifications and international standards.
• ARSEE (Agence de Régulation du Secteur de l'Eau potable et de l'Énergie)minorOthersARSEE is the Gabonese regulatory agency for the water and energy sectors. It conducted an official regulatory inspection visit to the Kinguélé Aval construction site on 29 November 2023, led by Director General Emmanuel Berre, to verify compliance with regulatory requirements.
• ANPN (Agence Nationale des Parcs Nationaux)minorOthersANPN is the National Agency for National Parks in Gabon. In March 2022, Asonha provided ANPN's Monts de Cristal National Park team with 2 four-wheel-drive vehicles to support park management activities. This reflects Asonha's environmental and social commitment under the project's Biodiversity Action Plan, given that part of the Kinguélé Aval reservoir lies within the Monts de Cristal National Park and its buffer zone.

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Engie Africa: Africa-focused arm of global utility Engie, operating renewable and thermal generation assets across the continent. Comparable as a broad incumbent with multi-country African footprint, project development capabilities, and long-term PPA expertise overlapping with Asonha's concession model.
• Meridiam: French mission-driven infrastructure investment firm and Asonha's majority co-shareholder via its Africa Central and Africa West teams. Comparable as the parent platform managing long-duration sustainable infrastructure equity across Africa and broader OECD markets.
• Globeleq: UK-headquartered power developer focused exclusively on Sub-Saharan Africa with a portfolio of hydro, wind, solar, and thermal IPPs. Comparable as an established Africa-focused independent power producer with similar long-term PPA structures and DFI financing access.
• EDF (Électricité de France): Global utility engaged in Africa via the EDF-Artelia joint venture, which serves as Asonha's owner's engineer. EDF has African generation assets and competes broadly in the IPP space with deep technical and financial capabilities relative to a single-asset SPV like Asonha.

Others

• PowerChina / Sinohydro: Chinese state-owned EPC contractor and hydro specialist serving as Asonha's turnkey construction partner for the Kinguélé Aval dam. Comparable as a globally significant EPC contractor and hydro project developer with deep African infrastructure project delivery experience.
• Africa Finance Corporation: Pan-African multilateral development finance institution providing debt and equity for African infrastructure projects including power generation. Comparable as a peer institutional investor/lender with similar DFI mandate overlapping with IFC, AfDB, DBSA, and EAIF in Asonha's capital structure.

Direct peers

• Bui Power Authority: Ghanaian state-owned hydro generator operating the 400MW Bui Dam on the Black Volta River. Comparable as an African hydropower operator delivering baseload clean electricity to a national grid with multilateral financing support and a similar long-term utility structure.
• Rusumo Power Company Limited: Trilateral SPV (Rwanda, Tanzania, Burundi) developing the 80MW Rusumo Falls hydroelectric project, financed by the World Bank, AfDB, and other DFIs. Directly comparable as a regionally-financed African hydro PPP with multilateral lender syndicate and sovereign off-take structure analogous to Asonha.
• Nachtigal Hydropower Company: Cameroon-based SPV developing the 420MW Nachtigal hydroelectric plant under a 30-year concession with the Cameroonian government, financed by IFC, AfDB, and other DFIs. Closely comparable to Asonha in PPP structure, multilateral DFI financing, hydro EPC delivery, and African sovereign off-taker arrangement.
• Azito Energie: Côte d'Ivoire-based IPP operating a ~430MW gas-fired combined-cycle power plant under a long-term PPA with the Ivorian government, financed with DFI participation. Structurally analogous to Asonha as a West/Central African IPP under a sovereign PPA with multilateral lenders.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Asonha Energie