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Yaoundé - 03 October 2022 -
Energy

French banker Société Générale goes solar in Cameroon

French banker Société Générale goes solar in Cameroon
  • Comments   -   Thursday, 05 May 2022 12:42

(Business in Cameroon) - Au Cameroun, le banquier français Société Générale se met au solaire pour préserver l’environnement

The local branch of the French banking group Société Générale reached a deal to acquire a solar panel from Electricité de France (EDF). The initiative is part of the bank’s commitment to environmental, social, and governance issues in Cameroon. It is expected to reduce carbon emissions by about 2,000 tons, the equivalent of "nearly 12,000 trees planted in Cameroon."

"The pilot sites for these hybrid solar power plants are the agencies (Bali, Yaoundé, Hippodrome, Ngaoundéré, Garoua, Maroua and Foumban) and the Minfopra ATM in Yaoundé. As for the headquarters building in Bonanjo, a contract for the installation of a harmonic reduction and power factor correction device has also been signed by both parties," the banking group informed.

This initiative by Société Générale Cameroun also contributes, albeit on a very small scale, to the diversification of the energy mix in the country, which is still largely dominated by hydroelectricity and thermal power. According to official data, solar, biomass, and wind power still represent barely 1% of the energy mix.

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