(Business in Cameroon) - Nachtigal Hydro Power Company (NHPC), the company in charge of the development and operation of the Nachtigal hydro plant project, announced it has disbursed XAF2 billion to compensate 772 people affected by the project.

This operation, says NHPC, is part of “a process rigorously examined, in consultation and transparency, to establish a fair and equitable compensation”. First, affected assets and people were identified between August 2015 and April 2016, then inventories were validated in a contradictory manner with each affected person.

The company said the level of compensation was defined on the basis of a 2003 decree that enables to include international best practices and the reality of local market prices, after which compensation decrees establishing the list of beneficiaries were issued in February 2018. Beneficiaries were made aware of the proper management of compensation before payments were made.

Nachtigal Hydro Power Company is 40% owned by EDF, 20% by the International Finance Corporation (IFC), 15% by the State of Cameroon, 15% by Africa50 and 10% by STOA Infra & Energy. Under this shareholding, NHPC will operate the facility for 35 years. The dam, whose commissioning is scheduled for 2023, is expected to produce more than 2,900 GWh/year.

S.A