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 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.
Following this operation, the project company will be 40% owned by EDF, 20% by IFC – a World Bank Group institution, 15% by the Republic of Cameroon, 15% by Africa50 and 10% by STOA.
Financing agreements for the construction of the Nachtigal hydroelectric dam were signed on November 8, 2018 in Paris by EDF, IFC, a member of the World Bank Group, and the Republic of Cameroon. The start of construction is planned for the beginning of 2019, while the operational commissioning of the dam is scheduled for 2023.
Country updates
-
-
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...
Read more -
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...
Read more -
November 30, 2017
The African Development Bank Group has approved a loan to help finance development of the project
-
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.
Read more -
October 31, 2017
The first permitting steps for the scheme, which the Italian firm is developing with a local partner, have already been completed, according to a statement on Enerray’s website
The first permitting steps for the scheme, which the Italian firm is developing with a local partner, have already been completed, according to a statement on Enerray’s website. Earlier this month the project has received an official validation for the selected site in Northern Cameroon, of 70 ha (173 acres), and held a presentation of the scheme
