Globeleq buys Cameroon assets

19 June 2014

Independent power producer Globeleq has boosted its presence in sub-Saharan Africa with the purchase of over 300 MW of generating capacity from AES.

The assets include the 216 MW natural gas fired Kribi and the 86 MW heavy fuel oil-fired Dibamba power plants. AES sold its interest in the plants for $202 million.

Both power plants sell their electricity to Societe National d'Electricite (Sonel), Cameroon's national utility, under 20-year power purchase agreements. The plants were the first independent power plants in Cameroon, built by AES after it entered the country's electricity market in 2001.

Commissioned in 2013 and located in southern Cameroon, Kribi uses offshore natural gas and currently supplies baseload generation to the grid using 13 Wärtsilä 18V50 DF generating sets. A 330 MW expansion of the plant is being planned.

Originally designed to provide electricity during times of peak demand, Dibamba became fully operational in 2009. The plant is located approximately 20 km to the east of Douala and uses eight Wärtsilä 18V38A generating sets.

With the addition of these assets, Globeleq has more than 1.2 GW in operation or under construction in five countries in sub-Saharan Africa. Its three renewable energy facilities in South Africa reached commercial operations during in April 2014 and the 139 MW expansion of the Azito facility in Cote d'Ivoire remains on schedule for commissioning in 2015.

Globeleq also operates power generating assets in Central America.

Sian Crampsie

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