Linklaters advises Platinum Power on $854m hydro plant in Cameroon
Linklaters is advising Platinum Power, a subsidiary of private equity firm Brookstone Partners, on plans to invest $854m in building a hydroeclectic plant in Cameroon. Platinum Power signed a framework public-private partnership agreement with the Cameroonian government this week to build a 400 megawatt capacity complex in Makay, in the country's Centre Region.
Construction of the new plant, whose electrical capacity represents 30% of the country’s current installed capacity, will begin in 2017 with completion set for 2020.
Francois April, partner at Linklaters, says: “Given the power deficit and blackouts that occur in this region on a regular basis, this project will deliver real tangible benefits. Out of the 1 billion people living in Africa, only 25% have access to electricity. Due to the vigorous demography of the continent, 10 million more people every year will need access to power, which provides for very exiting power development opportunities.”
The Linklaters team is being led by Projects partner Francois April and includes counsel Mark Barges and managing associate Aymeric Voisin.