Cameroon, EDF Consortium to Invest EUR1 Billion to Boost Power Output
November 04 2015 - 8:22AM
Dow Jones News
By Emmanuel Tumanjong
Special to DOW JONES NEWSWIRES
YAOUNDE, Cameroon--Electricite de France and Rio Tinto Alcan
have teamed up with ENEO Cameroon S.A. and the Cameroon government
to jointly invest one billion euros ($1.1 billion) to boost
electricity generation in the West African country.
Details of the contribution by each party wasn't disclosed.
The money will be invested in the Nachtigal power plant,
southwest of Yaounde, helping it generate 420 megawatts of
electricity by 2021. "Energy from Nachtigal will be destined mainly
to the public sector," said a statement from the consortium.
The investment is crucial for Cameroon, whose yearly energy
demand is growing by about 7%, according to government figures.
ENEO Cameroon currently accounts for 990 megawatts of Cameroon's
national power output of 1,292 megawatts.
In April, ENEO penned a $34 million deal to fire up two new
natural-gas-fired thermoelectric power plants in Douala, adding 50
MW of electricity capacity in its efforts to reduce its dependence
of hydropower.
Write to Emmanuel Tumanjong at
realtimedesklondon@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 04, 2015 08:07 ET (13:07 GMT)
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