Cameroon Signs $1bn Hydropower Project Deal
The Government of Cameroon and Joule Africa have entered into a
memorandum of understanding for the development of the $1bn Kpep
hydroelectric project in Cameroon.
The company said the project will increase the
country's current installed power generation capacity by about 40% and
would have an installed capacity of more than 450 MW when completed.
Located
on the Katsina-Ala River in Menchum division, north of Bamenda, and
near the Nigerian border, the Kpep hydroelectric project is expected to
increase the power capacity, boosting economic development of the
region.
Joule Africa will undertake the project with local partner
Bethel Industrievertretung of Bamenda-Cameroon and European engineering
firm, Lahmeyer International.
Lahmeyer International is
recognised as one of the top hydro engineering firms in the world and
has extensive experience designing hydroelectric projects in Africa.
Joule
Africa is a member of the Joule Investments Group, a US-based
developer, owner, and operator of hydroelectric power projects in
emerging markets.
Demand for electricity in Cameroon is projected
to triple over the coming decade, requiring about an estimated 3 GW of
additional energy infrastructure by 2020.
African Bank to Approve $100 Million for Hydro Power Plant in Ethiopia
The African Development Bank is to approve 100 million US dollars to finance the construction of a new hydro power in Ethiopia, this September according to Lamin G. Barrow, Ethiopia Country Office Resident Representative of the African Bank.
The hydro electric power project will consist of two power plants
with a total potential capacity of producing 371 MW (1680 GWH) annually.
It
is expected that the project will cost more than 400 million US dollars
with the African Bank financing a quarter of the projected cost and the
remainder being co-financed from other financial institutions.
It is to be remembered that the African Development Bank is to approve a
231 million US dollar loan for the Ethiopia-Kenya power interconnection
project said officials from the bank.
The board of directors of
the African Bank will be expected to appraise the project in the first
quarter of the current financial before giving final approval according
to Halima Hashi Ethiopian Country Program Officer for the AfDB.
The
Ethio-Kenya power interconnection system is planned to provide a
reliable power supply to Kenya from Ethiopian hydro electric power
supplies.
The AFDB also gave a 234.5 million us dollar loan for the construction of roads in Ethiopia, linking the country to South Sudan and Kenya. The Bank made the loan to encourage trade relationships between Ethiopia and its neighbors.
The AFDB also gave a 234.5 million us dollar loan for the construction of roads in Ethiopia, linking the country to South Sudan and Kenya. The Bank made the loan to encourage trade relationships between Ethiopia and its neighbors.
The two roads to be financed
by the African Bank are the Bedele-Metu road and the upgrade and
construction on the Hawassa-Ageremariam road.
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