[Cameroon] InfraCo Africa invests $1.7 million in Elan Solar project
InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed a Convertible Loan Agreement with Project Élan 1 SAS, committing up to $1.7m to develop Project Élan Solar in Cameroon.
The project is sponsored by established developers GSC Energy (Pty) Ltd and Sturdee Energy (Pty) Ltd and will be one of Cameroon’s first commercial-scale solar photovoltaic plants.
“We, together with Sturdee Energy, are delighted to be partnering with InfraCo Africa to progress Élan Solar which will deliver clean, additional power to Cameroon’s grid. The project will also contribute to achieving the Government of Cameroon’s ambitions for the country’s wider renewable energy sector.” Steven Moti, Group Executive Chairman, GSC Holdings
“This investment by InfraCo Africa recognises the professional job done by GSC Energy and Sturdee Energy to date, working with the government to explore how existing hydro regulations can be adapted to pioneer bankable solar energy in Cameroon’s energy mix. We are excited to progress the project together and are also grateful for the unwaivering support we have received from the Ministry of Energy and Water Resources.” James White, Executive Director, Sturdee Energy
Élan Solar will be built in the Garoua area of northern Cameroon. Expected to be built in a single phase, it is anticipated that the 50MWAC plant will begin delivering much-needed power to the country’s Northern Interconnected Grid in 2021.
Cameroon’s current reliance upon hydro power has left supplies vulnerable to fluctuating rainfall. With the country’s population growing rapidly, the Government of Cameroon has identified solar as having considerable potential to stabilise supply; meeting growing demand for reliable electricity from homes and businesses.
“Élan Solar is the first power project InfraCo Africa has undertaken in Cameroon. We are pleased to share our extensive knowledge and expertise in the sector to pioneer solar in Cameroon; transforming access to reliable power for domestic and business customers.” Kodjo Afidegnon, Head of West African Business Development, InfraCo Africa.