The Kribi Gas Power Project : Private, Local-Currency Financing Made Possible through an IDA Guarantee
In the late 1990s the government of Cameroon initiated a reform to improve efficiency and increase private sector participation in the country s power sector. The reform included new legislation, a new regulator, and privatization of SONEL, the sta...
| Main Authors: | , |
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| Format: | Brief |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2015
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2015/01/24381411/kribi-gas-power-project-private-local-currency-financing-made-possible-through-ida-guarantee http://hdl.handle.net/10986/21762 |
| Summary: | In the late 1990s the government of
Cameroon initiated a reform to improve efficiency and
increase private sector participation in the country s power
sector. The reform included new legislation, a new
regulator, and privatization of SONEL, the state-owned
integrated power utility, which was transferred to private
management under a 20-year concession in 2001. The
concessionaire, Energy of Cameroon (ENEO), was granted
exclusivity over transmission and distribution of
electricity and the right to develop and own up to 1,000 MW
of generating capacity. In the early 2000s the government of
Cameroon decided to pursue the exploitation of offshore gas
reserves for, among other things, incremental power
generation. As a result, in March 2006, Perenco Cameroon, a
subsidiary of French Perenco, signed a 25-year
production-sharing agreement with Societe Nationale des
Hydrocarbures (SNH), the state-owned gas supplier, to
exploit the Sanaga South gas field. That agreement was the
basis for the later development of the Kribi Gas Power Project. |
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