YAOUNDE, Cameroon--French power utility Electricite de France (EDF.FR), or EDF, will build a gigantic hydroelectric power facility that will help the West African nation nearly double its energy output.
Estimated at XAF718 billion (1.23 billion), the Nachtigal power plant will be constructed 65 kilometers northeast of the country's capital Yaounde, and will produce 420 megawatts of electricity upon completion by 2022, according to the agreement signed Tuesday by EDF and the government of Cameroon.
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"This is a major step leading toward the government's plan to triple electricity production by 2025," Cameroon's Minister of Energy and Water Resources, Basile Atangana Kouna, said. He added "construction work will start by November this year."
Before signing the agreement, Jean Bernard Levy, CEO and chairman of EDF, held a discussion with Cameroon's President Paul Biya, whom he said was "upbeat" on the project.
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(END) Dow Jones Newswires
June 07, 2017 13:05 ET (17:05 GMT)