(Business in Cameroon) - Cameroonian Ministry of Water and Energy (Minee) reported that its actions this year focused on completing the electrification of 166 localities via solar photovoltaic system and launching the second phase covering 184 localities.
As part of the first component led by Chinese Huawei, Minee said it received a budget allocation of XAF1.5 billion for 2018 as counterpart funds. The project saw the completion of construction work and the commissioning of 166 solar power plants and distribution networks.
As of September 30, 2018, the number of subscribers to these power plants stood at 6,159, getting 166 localities connected. Funds for implementation were raised through a buyer-credit loan with the Chinese partner Huawei, whose total financing amount was $106 million, or about XAF61 billion.
For the second phase of the project involving 184 localities, a budget allocation of XAF454.446 million for counterpart funds was mobilized by the Cameroonian government. Last year, Cameroon signed a loan agreement with the Bank of China worth $123.3 million (about XAF71 billion), under this phase which is already 31% completed.