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France's EDF Group signed an agreement to build and operate a €1.
2 billion hydropower project in Cameroon, the first step
in expanding Africa's hydropower business plan, Reuters reported.
According to the head of EDF's international division, "This is the first time EDF has brought together all of these industrial roles, which include design, negotiation, pilot projects, construction, operations and maintenance services
.
" ”
EDF will own 40 percent of the project and the state of Cameroon will hold 30 percent
.
The International Finance Corporation, the World Bank's investment arm, will also own a 30 per cent stake and is coordinating loans
from 11 development finance institutions and four local commercial banks.
The contracts were signed in Paris by representatives of EDF, IFC and the Cameroonian government, as well as lenders
involved in the financing of the project.
EDF will invest 120 million euros in the project and will operate the facility for 35 years, selling electricity
to the grid through a power purchase agreement.
It is understood that construction works will begin at the end of this year, and the project is expected to be put into operation
in 2023.
:/, please indicate the source for reprinting)
France's EDF Group signed an agreement to build and operate a €1.
2 billion hydropower project in Cameroon, the first step
in expanding Africa's hydropower business plan, Reuters reported.
According to the head of EDF's international division, "This is the first time EDF has brought together all of these industrial roles, which include design, negotiation, pilot projects, construction, operations and maintenance services
.
" ”
EDF will own 40 percent of the project and the state of Cameroon will hold 30 percent
.
The International Finance Corporation, the World Bank's investment arm, will also own a 30 per cent stake and is coordinating loans
from 11 development finance institutions and four local commercial banks.
The contracts were signed in Paris by representatives of EDF, IFC and the Cameroonian government, as well as lenders
involved in the financing of the project.
EDF will invest 120 million euros in the project and will operate the facility for 35 years, selling electricity
to the grid through a power purchase agreement.
It is understood that construction works will begin at the end of this year, and the project is expected to be put into operation
in 2023.
:/, please indicate the source for reprinting)
/
