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Yaoundé, Cameroon.
ENEO Cameroon is a power generation, transmission and distribution company which is investing in the development of its grids and the rehabilitation of its power plants. This is improving the quality of the service nationwide.
Client presentation
ENEO Cameroon SA (formerly AES SONEL SA), the Cameroonian electricity company, was privatized in 2001. It is owned by the US group AES Corporation, a major international electricity player, and the Government of Cameroon. ENEO Cameroon serves 528,000 subscribers and sells 3,300 GWh of electricity a year. The capacity of its generation facilities stands at 933 MW, 75% of which is hydropower. ENEO Cameroon is one of the only power distribution, transmission and generation concessions in Africa.
Project description
Proparco’s loan will contribute to financing ENEO Cameroon’s investment program for 2005-2009. This program has a total cost of EUR 380m and is mainly based on the rehabilitation, renewal and expansion of power transmission and distribution grids, as well as the rehabilitation of existing hydropower plants.
Project impact
This project will have significant impacts on the quality and expansion of the electricity service in Cameroon, by connecting 50,000 additional subscribers every year. Over 4 million people are expected to benefit from a connection or improved service. It will contribute to national efforts to develop an accessible and reliable electricity sector, which is a prerequisite for the economic development of the country.
08/12/2006
Date of signature of the project
Cameroon
Location
Financing tool
30 000 000 Euros
Amount of funding
Loan of EUR 30 M
Financing details
ENEO Cameroon SA (ex AES SONEL S.A.)
Client