The President of the Republic, João Manuel Gonçalves Lourenço, has approved the concession of the electricity transmission system that will connect Angola to the Democratic Republic of the Congo (DRC), enabling the export of Angolan electricity to markets in Central and Southern Africa. The measure, formalised through Presidential Decree No. 115/26, marks a significant step in the country’s strategy for regional energy integration and strengthens Angola’s position as a potential strategic energy supplier.
The project, known as the Northern Corridor, is the largest cross-border electricity interconnection infrastructure ever undertaken in Africa without the use of public funds. The concession will be implemented by Meridia Energy, a company established by Averi Finance and Somagec, while the concession is formally held by Somagec Energy Holding Limited (SEHL), headquartered in Dubai. According to the project developers, the entire investment will be financed through private capital, with no financial burden or sovereign guarantees required from the Angolan State.
The project includes the construction of electricity transmission lines linking Soyo to the border with the Democratic Republic of the Congo and extending Angola’s national power grid to Cabinda. Among the key components is a high-voltage transmission line with the capacity to carry up to 800 megawatts (MW), enabling not only electricity exports but also strengthening power supply to Cabinda, with expected benefits for local economic development.
Another noteworthy feature of the initiative is its financing model. The project will be developed under a BOOT (Build, Own, Operate and Transfer) arrangement, under which the infrastructure will be built, financed, operated and, at the end of the concession period, transferred to the Angolan State. This model eliminates the need for public funding or sovereign guarantees, an approach that remains uncommon for large-scale electricity transmission projects across Africa.
Under the partnership, Somagec will be responsible for engineering, technical feasibility studies and environmental impact assessments, while Averi Finance will lead the financial structuring and capital mobilisation required for the project. The company states that it has secured full financing for the two main transmission lines included in the project.
14/07/2026
