Independent power generation group Globeleq has, through its majority-owned independent power generation companies, the Kribi Power Development Corporation and the Dibamba Power Development Corporation, acquired a majority interest in more than 300 MW of generation capacity in Cameroon.

The acquisitions would see the company owning and operating the 216 MW natural gas-fired Kribi power plant and the 86 MW heavy fuel oil-fired Dibamba facility, both of which sold electricity to the national integrated utility company Société Nationale d'Electricité (Sonel) under 20-year power purchase agreements. 

Globeleq’s parent company Actis, an emerging markets fund manager, recently acquired a majority stake in Sonel.

The Republic of Cameroon would retain its existing shareholding in the power generation companies. 

Commissioned in 2013 and located in southern Cameroon, Kribi uses offshore natural gas to supply baseload generation to the grid using 13 Wärtsilä 18 V 50 dual-fuel generating sets. 

Plans were under way for a 330 MW expansion of the plant.

Originally designed to provide electricity during times of peak demand, Dibamba, meanwhile, located some 20 km east of Douala, became fully operational in 2009 and uses eight Wärtsilä 18 V 38A generating sets.

With the addition of these assets, Globeleq now haD more than 1.2 GW in operation or under construction in five countries in sub-Saharan Africa.

The group’s three renewable-energy facilities in South Africa reached commercial operation in April 2014, while the 139 MW expansion of the Azito facility, in Côte d'Ivoire, remained on schedule for commissioning in 2015.

Globeleq's CEO Mikael Karlsson said Dibamba and Kribi were the only two independent power projects in Cameroon, adding that the company was “excited” to be an active participant in the country's power sector and contribute to economic development.

“These quality assets add significant capacity to the company's existing platform in the region,” he commented.

Globeleq Africa asset management head Chris Ford added that company had been active in Africa “for many years” and had a proven record of owning and operating global power assets. 

“We look forward to providing the country with reliable and affordable electricity and support the ongoing growth of the electricity sector in Cameroon,” he noted.

Since Globeleq’s launch in 2002, it has invested more than $1.3-billion in 42 power projects across the world.