Five countries in southern Africa on Friday signed a multi-billion-dollar deal to set up a company aimed at boosting the region's dwindling electricity supplies.
Ministers and power utilities from Angola, Botswana, the Democratic Republic of Congo, Namibia and South Africa signed a memorandum of understanding for the development of Westcor, a joint venture to oversee the generation and distribution of electricity in the region.
"Today we are signing a memorandum of understanding... in which we anticipate that not only these countries, but others in the SADC region as well will be afforded an opportunity to share in the supply of electricity," said South African Minerals and Energy Affairs Minister Phumzile Mlambo-Ngcuka.
The five-billion dollar (3.9-billion-euro) project is expected to be finalised by 2011, drawing its main electricity source from the DRC's proposed new INGA III hydropower plant.
Situated in the giant Congo River, about 225 kilometres (140 miles) downstream from the capital Kinshasa, INGA III is expected to generate some 3,500 megawatts in electricity upon completion. One megawatt is enough energy to power 1,000 homes.
"The impact (of this deal), will be significant in the capacity to generate energy," added DRC Energy Minister Jean-Pierre Kalema Losona.