CAMEROON: the capital of Nachtigal Hydropower Company increases from 3 to 5 shareholders
The Nachtigal hydroelectric project is attracting more and more interest from foreign investors. Africa50, an investment fund of the African Development Bank (AfDB), and Stoa Infra Energy, an investment fund specializing in infrastructure and energy in Africa, Latin America and South-East Asia, come to join the capital of the hydroelectric company Nachtigal (NHPC), the company responsible for the construction and development of the project. To allow these two new shareholders to join NHPC, the SociÃ©tÃ© FinanciÃ¨re Internationale (IFC) and the State of Cameroon have respectively sold a third and half of their shares.
After this change, the shareholding of NHPC is now as follows: 40% for ÃlectricitÃ© de France (EDF), 20% for (IFC), 15% for the State of Cameroon, 15% for Africa50 and 10% for Stoa Infra & Energy.
âThis energy infrastructure will be the largest private hydropower plant in Africa. It will support the ongoing reforms in the energy sector in Cameroon and serve as an example for the development of other similar projects in the future, âsaid Koffi Klousseh, Director of Project Development at Africa50. For the Cameroonian Minister of Finance, “the official entry of these new shareholders is an important step in the process initiated for the disbursement from December 19, 2018, of the funds necessary for the effective start of the construction of the dam,” said Louis . Paul Motaze.
The energy produced by Nachtigal will be transported to YaoundÃ© by Sonatrel
The ceremony held in YaoundÃ© on December 4, 2018 also saw the signing of the contract formalizing the partnership between NHPC and the National Electricity Transport Company (Sonatrel). The latter will transport the electricity produced on a 50-kilometer line to the Nyom 2 transformer station, north of YaoundÃ©. With a total cost of 1.2 billion euros, the Nachtigal hydroelectric dam (with a capacity of 420 megawatts, or 30% of the installed capacity) is the cornerstone of Cameroon’s strategic plan for the development of the electricity sector. . Nachtigal is a national priority to secure the country’s electricity system. The project will improve and secure access to electricity for the population while contributing to the low carbon transition.