(Business in Cameroon) - During the last board meetings of Kribi Power Development Corporation (KPDC) and Dibamba Power Devlopment Corporation (DPDC) held on September 5, 2014 in Paris, Globeleq, which took over the assets of the two parent companies of the Kribi gas plant (216 MW) and the Dibamba oil plant (86 MW) in Cameroon announced the creation of Globeleq Cameroon Management Services (GCMS), a company registered in Cameroon that will “supervise the management” of KPDC and DPDC.

Fully owned by Actis, the British private equity firm, which itself bought all of AES Corp’s assets in the Cameroonian electricity sector in 2013, the new managing firm for KPDC and DPDC announced the appointment of Frédéric Didier Mvondo, former Managing Director of the DPDC, as Managing Director of the new Cameroonian subsidiary.

Present in 26 countries in Africa and in the Americas, Globeleq, with 500 billion FCFA in assets (1.3 billion dollars), participated in the production of close to 14,000 MW of electricity around the world since 2002. In Cameroon, the energy company will produce a little over 300 MW (over 20% of national production) which will continue to be sold to the public electricity company, AES Sonel, whose name-change after being acquired by Actis was made official on September 12, 2014.