Globeleq opens CMR subsidiary for Kribi, Dibamba power plants

Globeleq, which took over the assets of both companies owning gas plants in Kribi (216 MW) and oil Dibamba (86 MW) in Cameroon, announced the creation of Globeleq Cameroon management Services (GCMS), a company under Cameroonian law which will now "oversee the management" of Kribi Power Development Corporation (KPDC) and Dibamba Power Development Corporation (DPDC).

100% controlled by the British investment fund Actis, which has itself acquired 100% of the assets of the American AES Corp in the electricity sector in Cameroon in 2013, the purchaser of KPDC and DPDC has also announced the appointment of Frédéric Didier Mvondo hitherto Managing Director of DPDC,as the Managing Director of its new subsidiary in Cameroon.

Present in 26 countries in Africa and America, Globeleq, whose assets total more than 500 billion CFA francs ($ 1.3 billion), participated in the production of nearly 14,000 MW of electricity around the world since 2002.

In Cameroon, this operator of the energy sector will monitor the production of just over 300 MW (more than 20% of national production), which will keep on being sold to the public electricity service concessionaire, AES Sonel, that changed its name, following its acquisition by Actis, will be formalized this Sept. 12, 2014.