An Electricity company known as the Nachtigal Hydro power Company has been created in Cameroon.
An agreement to concretize the existence of this company was signed yesterday 7th July 2016 in Yaounde between France and Cameroon and the International Finance Corporation.
The Minister of Water Resource and Energy Basile Atangana Kouna signed on behalf of Cameroon while Jean-François Arsenault represented the French Government.
The Nachtigal Hydro-Power Company is expected to provide one third of Cameroon’s Energy by 2020, and to supply power to the aluminum plan in Edea.
The company will in the Months ahead complete the construction of 420 mega watts power dam on the river Sanaga. It is estimated to cover a distance of 40 miles transmission line.
According to the agreement, the French Government will have a 40% share of the company and the Electricite de France will exploit the dam for a period of 35yrs while Cameroon on the other hand will have 30% share.
30% of the project will be funded the International Finance Corporation.