The Minister of Water and Energy, Basile Atangana Kouna, and the managing director of Nachtigal Hydro Power Company (NHPC), Olivier Flambard, signed this Thursday, April 20, 2017 in Yaoundé, Within the framework of the upstream Nachtigal hydroelectric project.
The signing of the Convention marks an important step in the implementation of this project. It makes NHPC the concession holder of the upstream Nachtigal hydroelectric development for a period of 35 years and allows NHPC to transfer the land rights to the site of the hydroelectric works.
As a reminder, Nachtigal Amont is a hydroelectric project developed by Nachtigal Hydro Power Company created in 2016, whose shareholders are the State of Cameroon (30%), SFI (30%) and EDF International (40%), Construction of a dam and a 420 MW power station on the Sanaga River.
The most significant recent advances in the project include the selection of the four clusters of companies for the project works contracts following the tendering process, the start of the implementation of the plans Environmental and social commitments validated by mid-2016, the signing of decrees of classification and compensation for the release of land in the hydroelectric development area.
The financial closure of the project is planned for the end of 2017 for a commercial commissioning of the Nachtigal plant in 2021. The total cost is about 690 billion FCFA. This amount will be financed by 30% by the shareholders and by 70% by the lenders, with 2 tranches of financing. The first is financed by local commercial banks (about 25% of the total debt) and the second is financed by donors (about 75% of total debt).