logoBC
Yaoundé - 08 May 2021 -
Energy

Electric utility Eneo creates a subsidiary dedicated to electricity generation

Electric utility Eneo creates a subsidiary dedicated to electricity generation
  • Comments   -   Wednesday, 28 April 2021 17:01

(Business in Cameroon) - Electric utility Eneo announces that it recently initiated procedures for the creation of a subsidiary dedicated to energy production in Cameroon. According to Eneo, the subsidiary is being created in application of the commitments made at the government’s request when ENEO was signing the third amendment to its concession contract.

"The process began in February 2021, with the creation of a legal vehicle in which Eneo holds 100% of the shares and voting rights. All of Eneo’s shares, rights, and obligations in the electricity generation industry will be transferred to the entity called Eneo-Genco, through a partial asset contribution operation as provided for by the regulations in force and in particular the OHADA uniform act," the company said.

Eneo reminds that the conclusion of the process is subject to the approvals of the Eneo and Eneo-Genco’s extraordinary general meetings to be held in June 2021.

This new subsidiary is being created under the leadership of a joint committee chaired by the Minister of Water and Energy (Minee) with representatives from Eneo and several administrations like the Minee, the Ministry of Finance, the regulator Arsel and the Ministry of Justice.

S.A.

cameroon-banana-exports-dropped-by-22-11-yoy-in-apr-2021-assobacam-s-data
Banana producers operating in Cameroon exported 13,186 tons of the fruit in April 2021, according to the Banana Association of Cameroon (Assobacam)....
tradex-seeks-a-partner-for-the-supply-of-56-000-gas-cylinders
The state-owned oil operator Tradex recently issued an international call for tenders for the supply, within five months, of 56,000 12.5 kg gas...
cameroon-to-install-solar-plants-of-30mw-energy-generation-capacity-in-the-northern-regions-this-year
Cameroon and electric utility ENEO are currently fine-tuning a project to install mobile and modular emergency solar power plants. This was revealed, on...
consumer-price-index-rose-by-0-2-in-douala-in-march-2021-the-ins-reports
In March 2021, in Douala, the consumer price index (CPI) rose by 0.2%, according to the National Institute of Statistics (INS). The figure is slightly...

Mags frontpage


Business in Cameroon n99: April 2021

Outages ENEO’s director-general explains the situation


Cocoa: Time to boost processing


Investir au Cameroun n109: Avril 2021

Délestages Le DG d’Eneo s’explique


Cacao : cap sur la transformation

  1. Most read 7 days
  2. shared 1 month
  3. read 1 month
next
prev