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Yaoundé - 26 September 2021 -
Energy

Cameroon: National Hydrocarbons Corporation SNH announces investment in the renewable energy industry

Cameroon: National Hydrocarbons Corporation SNH announces investment in the renewable energy industry
  • Comments   -   Monday, 13 September 2021 15:11

(Business in Cameroon) - In its recent periodical, the National Hydrocarbons Corporation SNH announced its ambition to exploit development opportunities in the renewable energy sector. The corporation provided no further details on the investments projected but it stresses that it is in line with its 2020-2024 strategic plan.

Should the project come to fruition, it will mark the start of diversification in this state-owned company, which is currently focused on hydrocarbons management. In Cameroon, the renewable energy industry is nascent. According to UNESCO, the country has an important renewable energy potential with outstanding solar and biomass resources. However, energy access is still low, in rural areas notably. In the North and the Far North, that low energy access is more pronounced with just 22% of electrification rate and over 95% of households using wood fire for cooking purposes.

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