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Globeleq acquires majority interest in Cameroon power plants

Cameroon heavily relies on hydroelectric power, which might lead the electricity sector vulnerable to droughts. (Image source: Hope Abrams/Flickr)

Power generation major Globeleq has acquired majority interest in two power plants in Cameroon

216MW natural-gas fired Kribi Power Development Corporation and 86MW HFO-fired Dibamba Power Development Corporation will be owned and operated by Globeleq, stated authorities.

The plants sell power to Cameroon's integrated national power body Societe Nationale d’Electricite (Sonel) under 20-year power purchase agreements (PPAs), according to reports.

Mikael Karlsson, CEO of Globeleq, said, “Dibamba and Kribi are the only two independent power projects in Cameroon. We are excited to be an active participant in the country’s power sector and contribute to economic development. These quality assets add significant capacity to the company’s existing platform in the region, further establishing Globeleq as the leading private power company in Africa.”

The Central African nation heavily relies on hydropower than electric – of the installed 817MW of power, 88 per cent is generated from hydroelectric sources alone.

The Kribi power plant uses offshore natural gas and harnesses base load generation to the grid using 13XWartsila 18V50 DF generating sets. According to Globeleq authorities, a 330MW expansion for this plant is currently being planned.

Chris Ford, head of asset management for Globeleq Africa, added, ”Globeleq has been active in Africa for many years and has a proven track record owning and operating power assets all over the world. We look forward to providing the country with reliable and affordable electricity and support the ongoing growth of the electricity sector in Cameroon.”

 

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