Hydroelectric projects energize Cameroon's economy

Boasting the second-largest hydroelectric potential in Africa thanks to its many rivers, Cameroon has yet to fully exploit its huge resource as only a small percentage of its estimated 12,000 megawatt capacity has been realized.

Several major new infrastructure projects are set to provide a major boost to this utilization rate over the next few years. However, plenty of significant investment opportunities in the hydroelectric sector and other renewable energies are still available throughout the country, said Basile Atangana Kouna, the minister of water and energy.

"Cameroon is a very water-rich country, but to make it accessible to the population we need financing," he said. "The government is moving in the right direction, with a 10-year investment plan supported by many foreign investors, including China Exim Bank.

"China is collaborating with us on a number of projects that will bring drinkable water to an increasing number of Cameroonians. China is also participating in some of Cameroon's most important energy projects, such as the construction of the Memve'ele Hydroelectric Dam, which will generate 250 MW of electricity.

"Cooperation with China is really useful for us. Our hope is by 2035, all Cameroonians will have access to drinkable water and electricity, which will greatly contribute to the fight against poverty."

Flood of FDI

Minister Atangana Kouna revealed plans for a 600 MW hydroelectric dam in Chollet that will be built with the help of foreign finance, equipment, knowledge and expertise.

Construction is scheduled to start by 2018 and the project should generate power by 2022 as officials strive to ensure the country's rich economic potential is not hindered by power outages and that the nation's increasing energy needs can be met.

"Cameroon has enormous potential, and we invite our partners and international investors to come and work with us in order to help us develop our country," the minister said. "We are working on measures to improve governance and attract investors. China has understood the advantages of win-win partnerships in Africa, and today the country is very strong on our continent."

The minister also wants companies to follow President Paul Biya's lead and invest in renewable energies in the global fight against climate change. "The renewable energy potential of Cameroon is enormous," he said. "We have sun, wind, biomass and other sources that can be developed. However, we need financial assistance to develop such projects."

Founded in 2005 and overseen by the Ministry of Water and Energy, Cameroon Water Utilities Corp - or CAMWATER - is part of a public-private partnership with Camerounaise Des Eaux that supplies water to tens of thousands of homes and businesses. CAMWATER is responsible for building and renovating the water infrastructure, financing new projects and managing assets so as to increase the supply of drinkable water.

"Our greatest achievement has been to pass from 300,000 cubic meters of water per day to around 700,000 cubic meters - a goal that we've reached thanks to a number of bilateral and multilateral agreements that gave us the necessary financing and know-how," said CAMWATER General Manager Jean Williams Sollo. "We are fully aware that, nowadays, you can't do anything without China and we will continue working with the Chinese as they have the technology, workforce and financial means.

"We will continue to seek cooperation and finance from China and are already working on a new project in Douala and conducting talks with Chinese companies and Chinese banks to make it happen. Finally, once an infrastructure is completed, it needs to be maintained.

"Once we have completed an infrastructure in partnership with a Chinese company, we know that we will continue to work closely with them in order to maintain it: the cooperation remains and the business relationship continues to improve."