Nachtigal Hydropower Plant in Cameroon will help limit climate change.
On the 31st of January 2019, the World Bank Group via World Bank Africa tweeted; that it supports the construction of the Nachtigal Hydropower plant in Cameroon.
Derivatives from the tweet suggests that; the 420 mega watts (MW) Nachtigal Hydropower project which will be a source of clean power generation in Cameroon; will also help avoid 40 – 60 million tons of carbon-dioxide (CO2) emissions and this will be for over a 40 years period.
One other thing to note from the tweet is “We have the power to limit the causes of climate change”. This is of course true, as implementation of similar projects as the Nachtigal Hydropower plant; will drastically reduce green house gases that causes global warming and climate change.
See tweet below:
We have the power ⚡️ to limit the causes of #ClimateChange, & the @MIGA-backed Nachtigal #hydro plant in #Cameroon 🇨🇲 helps avoid 61 million tons of CO2 emissions over 40 years. Read more: https://t.co/HBgs5QuJYG pic.twitter.com/evfWl4eIt4
— World Bank Africa (@WorldBankAfrica) February 1, 2019
In the World Bank press release, Multilateral Investment Guarantee Agency (MIGA); International Bank for Reconstruction and Development (IBRD) and also International Finance Corporation (IFC) are all backing the €1.2 billion (US$1.36 billion) Nachtigal hydropower plant in Cameroon.
Nachtigal Hydropower Funding
MIGA, a member of the World Bank Group created in 1988 is providing €164.5 million in guarantees for the project. IBRD is also providing payment and loan guarantees while IFC is providing an investment, loan and risk management swaps; all for the success of this project. The European Investment Bank (EIB) is also supporting the project owners Nachtigal Hydro Power Company (NHPC) with a €50 million long term finance loan.
NHPC owns and will operate the Hydropower plant in Cameroon. Stakeholders of NHPC includes Electricite de France EDF (40%), IFC (20%), Cameroon government (15%), Africa50 (15%) and STOA (10%).
The Nachtigal Hydropower plant will produce almost 3,000 GWh per annum, which covers 30% of Cameroon’s energy needs. Cameroon currently have an installed capacity of about 1,500MW but the demand for electricity is rapidly increasing. Estimates also show that this demand will quadruple by 2035.
Cameroon has the third largest hydropower development potential in Sub-Saharan Africa, and hydropower will represent about 75 percent of its energy mix by 2023.
The project with an expected date of delivery in 2023 will also provide 1,500 jobs during construction and also on completion, it will deliver power enough for 453,000 customers.
The Nachtigal Hydropower plant will be located on the Sanaga River, about 65km north-east of Cameroon’s capital Yaounde.