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Morocco’s Platinum Power to invest over $800 million in Cameroon hydropower project | The Africa Report

the Africa ReportIn the “Economic Cooperation” section of the joint statement that followed the third meeting of the US-Morocco Strategic Dialogue in April of this year, ”The Secretary and Minister applauded the Memorandum of Understanding signed today between the Government of Morocco and the Millennium Challenge Corporation designed to share expertise and lessons learned with other select countries in Africa.” Among Morocco’s expertise, according to the  MOU, is “the energy sector in sub-Saharan Africa.” Indeed just two months later, The Africa Report writes:

Cameroon is set to add 400 megawatts to its current 1,200 megawatts of electricity as Morocco’s Platinum Power’s plans to build a hydroelectric project in the central African country.

Platinum Power, a subsidiary of U.S. private equity firm Brookstone Partners, says plans to invest 500 billion CFA francs ($845.87 million) to build a hydroelectric project in Cameroon, the company said.

The firm signed a framework public, private partnership agreement with the Cameroonian government on Wednesday to build a 400 megawatt capacity complex in Makay, in the country’s Centre Region. [full story]

 

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