“Imperative that financial stability of sector is addressed to support private investment”, says Globeleq in run-up to iPAD Cameroon

“It is imperative that the financial stability of the sector is addressed to support and encourage private investment in Cameroon” – this is according to Jean-Louis Ekra, board member of Globeleq, a successful private investor in the country’s power sector and returning diamond sponsor at the upcoming iPAD Cameroon Energy Infrastructure Forum in Yaoundé.

Cameroon’s Minister of Energy and Water Resources, H.E. Basile Atangana Kouna, will deliver the opening keynote address during the iPAD Cameroon Energy Infrastructure Forum, taking place from 10-11 November and expected to gather some 170 high-level representatives from government, utilities, developers, investors and finance institutions.

“We are ready to do business”
Globeleq has been involved in developing and operating independent power projects in emerging markets since 2002 and is one of the most experienced companies in the African IPP sector.

Says Mr Ekra: “Globeleq has around 1,300 MW in operation across eight plants in five countries - Cameroon, Côte d’Ivoire, South Africa, Tanzania and Kenya. The company has around 2,500 MW of power projects in development and plans to add significant MW of new power generation during the next 10 years. In Cameroon, we are working hard to complete the final development stages to expand the existing Kribi gas fired plant from 216 MW to 330 MW.”

He adds: “we are ready to do business and build more sustainable power generation businesses across the continent. Our Kribi Expansion project is ready for financial closing so we would like to see the Government expedite the process so we can move into the construction phase and deliver more essential and affordable energy to the country. It is imperative that the financial stability of the sector is addressed to ensure continued private investment and the current IPPs in the country can continue to operate at world class operating standards.”

The Globeleq director says Cameroon is a stable country with many investment opportunities and he would like to see the country “establish a diverse mix of energy generation in which uninterrupted electricity supply becomes the norm and universal access to electricity in all urban areas is achieved. This is not out of reach but the Government must focus on remedying the sector issues, improving governance across all sectors, implementing sound energy policies and ensure transparency in awarding projects and establishing high standards of managing resources and revenues.”

iPAD Cameroon Energy Infrastructure Forum:
Dates: 10-11 November 2016
Venue: Hilton Hotel, Yaoundé, Cameroon

iPAD Cameroon is organised by Spintelligent, leading Cape Town-based trade exhibition and conference organiser, and the African office of Clarion Events Ltd, based in the UK. Other flagship events in Spintelligent’s power portfolio on the continent are African Utility Week, the West African Power Industry Convention (WAPIC), East African Power Industry Convention (EAPIC) and iPAD Rwanda Energy Infrastructure Forum.

Senior communications manager: Annemarie Roodbol
Telephone: +27 21 700 3558
Mobile: +27 82 562 7844
Email: annemarie.roodbol@spintelligent.com
Website: http://www.ipad-cameroon.com
Postal address: PO Box 321, Steenberg, 7947, South Africa

This release was published on openPR.