Almost a year after commissioning its Maroua and Guider solar photovoltaic plants, Release by Scatec, a subsidiary of the Norwegian energy company Scatec, wants to increase its electricity production capacity. This expansion project was recently approved by the Cameroonian authorities and the public company Eneo. The company, which leases its plant to Eneo, will add 28.6 MWp of solar generation capacity to the two plants and 19.2 MWh of battery electricity storage capacity.
The release of Scatec solar power plants has “greatly benefited the local population in northern Cameroon by eliminating power outages. This new project will further reduce our dependence on diesel and save the government millions of dollars in fuel costs,” explained Gaston Eloundou Essomba, Minister of Water and Energy of Cameroon.
Availability of financial resources
The expansion project will increase the combined capacity of the Maroua and Guider solar power plants to 64.4 MWp and 38.2 MWh of battery storage capacity. These facilities will be able to supply around 200,000 homes in Cameroon, according to Eneo estimates, generating an annual production of around 141.5 GWh of electricity. “In combination with the storage capacity, the installation will guarantee a stable supply of electricity, even during peak hours,” says Scatec.
The company, led by Hans Olav Kvalvaag, is confident that it has the necessary capital to carry out its expansion project. In July 2023, Release raised $102 million in equity financing (32%) from Climate Fund Managers (CFM), a fund manager based in The Hague, Netherlands.
The Maroua and Guider solar plants, in operation since September 2023, required an investment of 17 billion CFA francs (almost 26 million euros), carried out jointly by Release and its partners Izuba Energy and Sphinx Energy. The two plants, which have a combined capacity of 36 MWp, benefited from a guarantee of €11 million from Gabon-based BGFI Bank.
