Kribi

completed

IFC proposes to invest up to Euros 35 million in Kribi Power Development Company (KPDC or the company) for the development of a gas-fired power plant with a gross capacity of 216 MW and the associated 100 km 225 kV double circuit transmission line from Kribi to Edéa (Kribi) in Cameroon. KPDC is an affiliate of AES Sonel, the privatized integrated electric utility of Cameroon and an IFC investee company. AES Sonel will also be the off-taker of the power produced by KPDC. The Kribi project will be Cameroon’s second Independent Power Project (IPP) after the Dibamba power plant. Gas will be supplied to Kribi from the Sanaga Sud gas project being developed by Perenco in partnership with Société Nationale des Hydrocarbures (SNH: the national petroleum company). Although the Sanaga Sud gas facility is not funded as part of the project, Kribi is expected to be the main gas offtaker at least during initial years of operation, and reliable supply of gas is important for optimal operation of Kribi. The main objectives of the project are to meet the increasing demand for power in the country and to diversify Cameroon’s current mostly hydro generation capacity through thermal generation expansion while displacing inefficient thermal power plants thereby reducing environmental impact, including carbon emissions. This project was first disclosed on February 20, 2008 and due to changes in the project size and scope a new disclosure had to be done.