Guinea-Bissau is experiencing increased international engagement, regulatory reform and integration into regional energy networks in an effort to tap its vast untapped energy and mineral resources. These developments aim to create a favorable environment for private investment, improve energy reliability and promote sustainable growth. With improved stability and expanded infrastructure, Guinea-Bissau is creating new opportunities for investors seeking to participate in West Africa’s evolving energy and mining sector.
Energy and mineral development
Guinea-Bissau recently achieved an important milestone in connecting to the sub-regional electricity grid shared with Senegal, Gambia and Guinea-Conakry, significantly improving the stability and reliability of electricity supply to the capital. The integration, facilitated by the OMVG Interconnection Project, will leverage the 240MW Caleta hydropower plant in Guinea-Conakry, allowing Guinea-Bissau to receive up to 80MW of reliable supply.
In the offshore oil sector, offshore exploration company Apas Energy will drill the Atum-1X well in late 2024, targeting an estimated 314 million barrels of recoverable oil near Senegal’s maritime border. Onshore, the World Bank, the international financial institution, has approved $35 million in funding in mid-2024 to promote solar power, strengthen national grids and increase access to electricity, which currently accounts for less than 35%. Local microgrid projects are already operational, such as Bambadinka’s solar-diesel hybrid system.
Guinea-Bissau also has significant mineral resources, including bauxite near Boé and phosphate deposits at Farim. Last year, Azerbaijan’s state-owned mining company Azergold formally signed a cooperation agreement with the government to carry out advanced geological mapping and begin gold exploration activities.
Regulatory reform and regional integration
The ongoing reforms of the state-run power company Guine-Bissau Electricity Company, supported by international financial institutions the International Monetary Fund and the World Bank, include the introduction of prepaid meters, improved revenue collection, and alignment with African Organization for the Harmonization of Commercial Law standards. These initiatives are aimed at stabilizing operations and attracting private sector participation in electricity generation and distribution.
Regionally, Guinea-Bissau is expanding its role in West Africa’s energy infrastructure. Additional integration into West Africa’s power pool is expected to improve energy reliability and reduce costs. Guinea-Bissau is also positioned as a potential transit country for the Nigeria-Morocco gas pipeline, further strengthening its role in the regional energy corridor.
Guinea-Bissau’s recent advances in energy and mine development will be a key focus at the MSGBC Oil, Gas & Power 2025 conference and exhibition, to be held in Dakar from December 9th to 10th. Themed “Africa’s Energy, Oil and Mining: Synergies for Inclusive Economic Development”, the event will focus on opportunities arising from offshore oil exploration, renewable energy and mineral resource development, and ongoing reforms aimed at attracting private investment and strengthening regional energy infrastructure.
Explore opportunities, foster partnerships and remain at the forefront of the oil, gas and power sector in the MSGBC region. To secure your participation in the MSGBC Oil, Gas & Power 2025 conference, please visit www.msgbcoilgasandpower.com. To become a sponsor or participate as a representative, please contact sales@energycapitalpower.com.
