Financial close of the €1.26 billion Nachtigal hydro power plant to be built in Cameroon was achieved on 24th December 2018. The total debt package of the project is €916 million.
The Emerging Africa Infrastructure Fund (EAIF), which is part of the Private Infrastructure Development Group (PIDG), has provided a €50 million loan over 18 years to Nachtigal Hydro Power Company (NHPC). NHPC will build a run-of-the-river hydro power station at Nachtigal on the Sanaga River in Cameroon.
EAIF Executive Director Emilio Cattaneo says the financial close is confirmation that the groundworks and civil engineering of the project will soon begin.
“Nachtigal is a big project that will help transform the economy of Cameroon,” he said. “It will improve living conditions for people across the country and deliver many decades of clean, green power. It is a perfect example of the way that PIDG companies use blended finance from public and private sources to bring sustainable economic, business and social benefits.”