(Business in Cameroon) - Africa50, the pan-Africa infrastructure investment platform, has just acquired 15% of stake in the Nachtigal project (420 MW).
On the occasion of the signature of the related agreement, Koffi Klousseh, the platform’s Director of project development, said: “Nachtigal will be the largest hydropower plant in Africa that is primarily funded with private capital. It will have a strong demonstration effect under the government’s sector reform process, paving the way for similar projects in the future”.
The project is all the more interesting as it will increase Cameroon’s power capacity by 30%. It is “one of the very few public-private partnership (PPP) hydropower projects in Sub-Saharan Africa,” according to Elisabeth Huybens, World Bank Country Director for Cameroon.
Following this transaction, the shareholding of NHPC is now comprised of EDF (40%), IFC (20%), the Cameroonian State (15%), Africa50 (15%) and STOA Infra & Energy (10%).