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Norwegian renewable energy producer, Scatec, has signed a lease agreement with Cameroon’s primary electricity company, Eneo, for the development of two hybrid solar and storage plants. With a total capacity of 36MW of solar and 20MW of storage, the plants will increase access to clean power, particularly in Maroua and Guider in Cameroon.
The agreement provides for a flexible contract between Scatec and Eneo, whereby the partially state-owned company will coordinate generation capacity with the company’s needs. First power is expected before the end of 2021, with the balance to be delivered in phases throughout 2022.
“We are pleased to enter into this agreement with Eneo, which further fuels our journey to make renewable energy more accessible and affordable across growth markets. The deal marks our entry into the Cameroonian market, and we are proud to contribute with a cost-efficient and immediate solution to a cleaner and more stable electricity supply in a region suffering from power shortages caused by droughts limiting the supply of hydropower,” stated Raymond Carlsen, CEO, Scatec.
A partnership between Scatec’s Release – a flexible leasing agreement of pre-assembled solar PV and battery equipment offering industrial players access to both reliable and low-cost solar power – and the International Finance Corporation (IFC), will support the development of the two projects. According to the terms of the partnership, the IFC will contribute between 10% and 20% towards project costs.
“Access to sustainable, reliable and affordable power is essential to economic recovery and growth. The IFC is proud to partner with Scatec’s Release to help bridge the power gap in Cameroon through a unique solution that enables solar power systems to be quickly deployed to help meet the electricity needs of today while paving the way for more competitive, cleaner and long-term energy sector sustainability in Cameroon,” stated Sylvain Kakou, Central Africa country manager, IFC.