MIGA agreed to issue guarantees of up to EUR164.5 million (US$187.9 million) covering EDF and STOA’s equity and quasi-equity investments in the Nachtigal project. The guarantees are issued for up to 15 years against the risk of Breach of Contract. The financing has been provided alongside payment and loan guarantees from the IBRD, and an investment, loan and risk management swaps by IFC.
The Nachtigal project consists of the design, construction and operation, for 35 years, of a dam and a 420 MW hydroelectric plant on the Sanaga River near the Nachtigal Falls, located 65 km northeast of Yaounde. It also includes the construction of a 50 km transmission line to Nyom and a 2km long and up to 14m high dam and a 3km supply canal. The plant will be comprised of seven 60 MW generators.
The project's power generation will cover 30% of the country’s electricity demand, amounting to an annual output of nearly 3TWh.
Country updates
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December 04, 2018
STOA and Africa50 acquire a stake in the 420 MW hydro project in Cameroon
STOA and Africa50 has signed the shareholders’ agreement and associated share transfer agreements for the 420 MW hydropower project. The Nachtigal project consists of the design, construction a...
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November 08, 2018
EDF, IFC and the Republic of Cameroon sign final and binding agreements for 420 MW hydropower project
EDF, IFC, and the Republic of Cameroon signed final and binding agreements for the construction of the Nachtigal hydropower plant. The project entails the design and construction of a 420-MW hydropow...
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October 16, 2018
EIB approves financing for 420 MW hydropower project in Cameroon
The European Investment Bank (EIB) has announced that it has approved financing for the 420 MW Nachtigal hydropower project in Cameroon, which has an estimated total cost of EUR1.17 billion (US$1...
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November 30, 2017
The African Development Bank Group has approved a loan to help finance development of the project
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November 15, 2017
MIGA mulls 420 MW hydro project in Cameroon
Multilateral Investment Guarantee Agency (MIGA) is mulling providing a guarantee for EDF International’s 420 MW Nachtigal hydro project in Cameroon.
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