The Freeport McMoRan Grasberg copper…
Oil prices fell to one…
Africa is becoming more and more famous for its renewable energy projects. The huge continent has vast abundance of renewable energy sources, and as its economies develop it is looking to alternative energy for much of its power, rather than fossil fuels. With giant solar and wind projects in the north, geothermal projects in the east, and bio mass in the south, Africa truly is looking at every option available to it.
A huge new $1 billion hydroelectric project has been agreed between the Government of Cameroon and Joule Africa, part of the Joule Investments Group, a US-based developer, owner, and operator of hydroelectric power projects in emerging markets. The Kpep project will have a capacity of 450 MW and is expected to increase the countries power generation capacity by 40 percent. Located on the Katsina-Ala River in Menchum division, north of Bamenda, and near the Nigerian border, it is hoped that the plant will boost economic development in the region.
Lahmeyer International is acknowledged as the top hydro engineering firm in the world, and will use its extensive experience of desiging hydroelectric projects in Africa, to help Joule Africa and Bethel Industrievertretung of Bamenda, Cameroon to complete the power plant.
Cameroon’s energy demand is expected to increase by 3GW over the next decade and this new hydroelectric plant will help them cope with that increase.
By. Joao Peixe of Oilprice.com
Joao is a writer for Oilprice.com