Afc invests in cameroon’s landmark 420mw hydro-electric power station energy central k electric jobs 2016

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The EUR 1.2 billion power electricity in costa rica generation project will consist of a 420MW hydro-electric power station as well as a 50KM transmission line. The financing structure will take a 76:24 debt to equity ratio, with AFC providing EUR 50 million in debt and an additional 18-year interest rate swaps of up to EUR 75 million. Construction is expected to commence by the end of 2018.

This investment into Cameroon’s power sector comes following consistent growth electricity in the 1920s in the demand for electricity across the country for both domestic and industrial use. For example, during the 2012 – 2016 period, demand grew at a Compound Annual Growth Rate of 7.6%, from 4.2TWh gas in oil to 5.7TWh in the grid to which Nachtigal will connect. Currently, demand in the grid to which Nachtigal will be connected is expected to more than double from 5.7TWh in 2016 to above 13TWh by 2030.

As is the case with all projects Africa Finance Corporation participates in, the decision to go forward with the Nachtigal hydro project was based on its potential to drive economic development while also natural electricity examples considering its wider impact. The NHPC will be the cornerstone of Cameroon’s low carbon development plan and was selected because it was ranked as the best future hydro project to be developed in the electricity voltage in germany LCDP. AFC, the sponsors and lenders will develop the project in compliance with national and international best practices in terms of environmental and social management and infrastructure building.

Samaila Zubairu, President CEO to AFC commented on the announcement: “Cameroon is a textbook example of a nation that has, in recent years, demonstrated a deep-rooted commitment to surmount its power deficit challenges by successfully creating a highly investible sector. The financial close of projects gas in oil lawn mower such as these and the Kribi IPP are a testament to their earnest efforts.

AFC, an investment grade multilateral finance institution, was established in 2007 with an equity capital base of US$1billion, to be the catalyst for private sector-led infrastructure gas pain relief investment across Africa. With a current balance sheet size of approximately US$4.2 billion, AFC is the second highest investment grade rated multilateral financial institution in Africa with an A3/P2 (Stable outlook) rating from Moody’s Investors Service. AFC successfully raised US$750 million in 2015 and US$500 million in 2017; out of its Board-approved US$3 billion Global Medium zyklon b gas effects Term Note (MTN) Programme. Both Eurobond issues were oversubscribed and attracted investors from Asia, Europe and the USA.

AFC’s investment approach combines specialist industry expertise with a focus on financial and e85 gasoline technical advisory, project structuring, project development and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth. AFC invests in high quality infrastructure electricity prices by country assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. To date, the Corporation has invested approximately US$4 billion in projects within 28 countries across North, East, West and Southern Africa.