A formal agreement was reached on 13 April in Yaoundé, in the framework of a public-private partnership, concerning the future power purchase contract for the Makay hydroelectric complex.
The State of Cameroon was represented by Minister Basile Atangana Kouna. The Moroccan Platinum Power, by its CEO, Omar Belmamoun. And Eneo Cameroon, subsidiary of the British fund Actis, by its director general, Joël Nana Kontchou. According to the agreement on terms of reference signed between the parties, Nana Kontchou explained, the concern in this project is “to negotiate with the developer a tariff of purchase of energy that is compatible “We welcome the joint vision of the parties with a view to implementing the Makay project as soon as possible, thus contributing to the strengthening of of energy supply in Cameroon “.
The Makay complex, located on the Nyong River in the Nyong-et-Kelle division, will develop an estimated capacity of 400 MW, producing more than 1600 GWh/year at a capital cost of one million dollars. This would translate into access to electricity for an additional population of 6 million people.
According to Omar Belmamoun, this hydropower infrastructure, which lays the foundation stone will take place this year 2017, will be put into operation in the second half of 2023. Platinum intends to sell the renewable energy produced in Makay to the Eneo company in charge of production and of the commercialization of electricity in Cameroon.
The development of this project began in January 2014 by signing a memorandum of understanding between the Moroccan company and the Republic of Cameroon. Platinum Power is a reference shareholder, the US investment fund Brookstone Partners.