Business cameroon9 Jun 2019 04:20
Business Cameroon May 2019 Energy page 25
KGAL New Frontiers acquires stake in SunErgy, a Norwegian company aiming for the Cameroonian market
Private Equity Fund KGAL New Frontiers, founded in 2018 by German KGAL, acquired 22% stake in SunErgy, a Norwegian company specialized in off-grid power supply to emerging countries. The transaction amount is yet to be disclosed but monies will foster SunErgy’s expansion to Cameroon where the company sees an opportunity to grow in the next 8 years, with the possibility of making the country a hub. The coming of SunErgy into Cameroon will help limit the power blackout still facing the country. Off-grid interconnected distribution services are already present in Cameroon, particularly in Douala, through companies which are partners to Gaz du Cameroun. SunErgy plans to build 8 solar plants this year with the aim of reaching 20,000 people. Back in May 2012, this Norwegian firm had already signed a MoU with Cameroon to connect ninety-two villages with solar power. The project covers about 115,000 households, or 600,000 people. A good opportunity for SunErgy will be to supply power to telecommunications tower managers. The latter often operate facilities located in remote places where even the supply of fuel for generators can be complicated. It can also supply health facilities as well as other small organizations.
Focus page 10
Norfund-CDC Group -led consortium takes ownership of two power plants in Cameroon
Actis, the British investment fund that acquired Eneo, announced Sept. 15, 2015 that it has transferred all of its Globeleq Africa assets to a consortium led by Norwegian Norfund and British CDC Group. The transaction was valued at $227 million (close to XAF125 billion). Wholly owned subsidiary of Actis, Globeleq Africa, specialized in energy production in many African countries, has taken ownership of the Kribi and Dibamba power plants after Eneo was bought by Actis. The two power plants of a combined capacity of 304 MW made Cameroon Globeleq Africa’s main energy producer on the continent, ahead of Côte d’Ivoire (288 MW with the Azito plant) and South Africa (three solar and wind plants with a total capacity of 238 MW). Currently, there are great changes happening in the Cameroonian energy sector. Indeed, there is a new law opening the production and commercialization segment to competition and establishing a public institution as manager of the power distribution network. This law came into effect a year ago
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