Basile Atangana Kouna, Minister of Water Energy of the Republic of Cameroon and Electricité de France (EDF) has signed a production concession contract, giving EDF full development rights for the Nachtigal Hydroelectric Project.

The signed agreement altogether empowers EDF to do the preliminary groundwork for the production and likely transportation of the 420 MW of electricity that will be generated by the project.

The event took place on July 10, 2014, a day after the inauguration of the EDF Cameroon office. The project holds great importance for the government, according to Minister Kouna. He also expressed that EDF is a valued partner in the Nachtigal Hydroelectric Project and possible future projects.

The International Development Director of EDF, Edouard Dahome, said “This agreement is a significant step because this right that we are given by the government gives us the certainty that we have all opportunities to develop the project.”

The preparatory technical studies for the project are near completion. Dahome continued, “We are straight on the path that we have designed which spells out that by the end of 2015 and beginning 2016 we will be able to take the final investment decision for the project.”

“Everything is on track. This is a very significant project for Cameroon because at least 20 per cent of the country’s energy will come from it in 2020. It has a capacity of 420 MW and will cost around 850 million dollars (about FCFA 410 billion). Part of the studies is also to see how we will mobilize the funds,” he added.