Sustainable Energy Funds supports CMR solar project

The African Development Bank (ADB) announced January 30, 2015, the approval of 38.5 million Cfa francs on the Africa Fund for sustainable energy for (AFIS).

This was done in preparation for the first project of independent production of energy (IPP) in the field of solar energy in Cameroon.

This funding to the JCM Greenquest Solar Corporation, will allow them to carry out feasibility studies for a project to construct a 72 MW solar plant on Cameroonian territory.

"As a first IPP project in the field of renewable energy in the country, we hope that this project will trigger the development of renewable energy in Cameroon and attract more investors in the area of clean energy," said Michaël Strait, Managing Director of JCM Capital, a company based in Toronto in Canada and mother house of JCM Greenquest Solar Corporation.

As a reminder, "Fund for sustainable energy in Africa is a trustee donor fund administered by ADB and endorsed through a commitment of 30 million francs Cfa ($60 million) of the Danish and U.S. Governments", explained the BAD.

The objective of this Fund, "is to promote sustainable economic growth of African countries, which is supported by the private sector through the effective use of hitherto untapped clean energy resources.

The SEFA is equipped with three counters, a window Preparation Project to fund the activities of pre-investment, a one-stop holding of participations, aimed at addressing the lack of access to start-up capital and a window environment, aimed at contributing to the creation of a business environment conducive to the development of projects in renewable energy.