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Yaoundé - 25 May 2018 -
Electricity

ENEO reached an agreement with KPDC about its debt

ENEO reached an agreement with KPDC about its debt
  • Comments   -   Thursday, 15 February 2018 13:02

(Business in Cameroon) - Kribi gas power plant is gradually increasing the volume of energy it supplies to ENEO. The normalization follows an agreement between KPDC (which built and operates the power plant) and ENEO about the debt the latter owes the former. This was revealed on February 14, 2018, in Kribi by Joël Nana Kontchou, the managing director of ENEO, during the inauguration of his company’s headquarters in Sanaga Océan.

Later last year, due to ENEO’s debts which reached the critical threshold, KPDC reduced the generating capacity of Kribi gas power plant by 100 MW. Consequently, ENEO was deprived of the energy necessary to supply its clients in the southern interconnected system.  

Unable to pay its debts, ENEO in turn referenced about CFA100 billion Cameroon owes it. These debts included the consumption of public institutions and the debt in the framework of the tariff compensation plan.  

Once government paid a portion (CFA15 billion) of that debt, ENEO was also able to pay part of its debt, thus soothing the collaboration between the companies controlled by Actis, the British investment fund.

BRM

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