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AfDB’s Sustainable Energy Fund for Africa (SEFA) has approved a grant worth US$777,000 for Canada’s JCM Greenquest Solar Corporation to develop a 72MW solar photovoltaic (PV) plant in Cameroon
SEFA’s grant would cover environmental and social assessments, as well as technical, legal and financial advisory services, said AfDB.
With the solar project, the southern African nation is set to welcome its first renewable energy independent power producer (REIPP).
Michael Strait, managing director of the development group at JCM Capital, said, “We welcome the support of AfDB as we work with the government of Cameroon to help them achieve their energy policy goals. As the first REIPP, we believe the project will jumpstart the development of renewables in Cameroon and attract significant investment in the clean energy sector.”
Alex Rugamba, director of the energy, environment and climate change at AfDB, added that the AfDB’s support was critical in delivering Cameroon’s first renewable energy IPP and its success will have significant effects on the country’s power sector and the continent at large.
AfDB officials stated that the country’s energy access rate was only 18 per cent in 2013, compared to its abundant supply of oil and gas, and renewable sources. The government of Cameroon has established an Energy Sector Development Plan (PDSE 2030) with the objective of attaining a 75 per cent electrification rate by 2030.