Stability key to Cameroon energy sector growth

cameroon energyYAOUNDE, (CAJ News) – THE political stability in Cameroon has put the energy sector in the West African country in good stead to record growth.

This is the prevailing sentiment ahead of the Infrastructure Partnerships for African Development (iPAD) Cameroon Energy and Infrastructure Forum scheduled for Yaoundé in December.

The forum has received a major boost after Globeleq, the power provider, as confirmed as the diamond sponsors.

Dr Reuel Khoza, Chairman of the Globeleq Board, said Cameroon was a stable country with many investment opportunities.

“It offers experienced investors a growing economy with strong fundamentals and a strong institutional framework in which do to business, provided they can navigate the specifics of the market and business environment,” said Khoza.

He said in the energy and infrastructure sectors, there was strong demand for power generation, electricity transmission and distribution and transportation infrastructure.

“Political stability enables the protection of both domestic and foreign investments while the country has a well-educated and mostly bi-lingual workforce,” said Khoza.

Globeleq has been involved in developing and operating independent power projects in emerging markets since 2002, so it is one of the most experienced companies in the African IPP sector.
Globeleq currently has around 1 300 MW in operation in Cameroon, Ivory Coast, South Africa, Tanzania and Kenya.

The company plans to develop and contribute a further 5 000 MW to the region over the next 10 years.

In Cameroon, it is in the final stages of developing a project to expand the existing Kribi gas fired plant from 216 MW to 330 MW.

In Ghana, it is developing a 450 MW gas-fired project and in South Africa it is continuing to build on its renewable energy platform.

Meanwhile, Cameroon’s Minister of Energy and Water Resources, Basile Atangana Kouna, will officially open the iPAD Cameroon Energy and Infrastructure Forum as more than 200 utility experts, financiers and prospective investors will gather to focus on fast-tracking the country’s development.

Organized by Spintelligent, the leading Cape Town-based trade exhibition and conference organiser, and the African office of Clarion Events Ltd, based in the United Kingdom, the event will be held on December 1-2.

CAJ News

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Posted by on Nov 16 2015. Filed under Africa & World, Energy, Featured, Mobile & Telecoms, National, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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