Nachtigal Hydropower Plant Project wins PFI’s 2018 'Global Multilateral Deal' Award
The Nachtigal Hydropower Plant project in Cameroon was awarded 'Global Multilateral Deal of the Year 2018' by Project Finance International (PFI).
The Award was presented at the PFI Awards dinner which took place in London on Wednesday 6 February.
Africa50 contributed to the financial closure of this project in December 2018, by acquiring 15% of the equity stake in the Nachtigal Hydro Power Company (NHPC) which runs the 420 MW Nachtigal hydropower project in Cameroon.
EDF, IFC, the Republic of Cameroon, Africa50 and STOA funded 24% of the project as equity investors, while the rest was funded through debt provided by 11 development finance institutions coordinated by IFC and 4 local commercial banks coordinated by Attijariwafa Bank.
The completion of this landmark €1.2 billion project – one of the few hydropower PPPs in sub-Saharan Africa - will help to cover about 30% of the country’s energy needs, as well as lower electricity prices. The dam is the largest privately-financed project in sub-Saharan Africa and will pave the way for similar projects in the future.
PFI is one of the leading sources of global project finance intelligence. It reports on major deals, providing data and in-depth analysis across their lifecycles. Every year, PFI organizes an Awards Dinner for over 600 project finance professionals to celebrate industry successes.
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