Leading global law firm Herbert Smith Freehills has advised EDF, one of the world’s leading electricity companies, IFC (International Finance Corporation), a member of the World Bank Group, and the Republic of Cameroon (as investor) on the final agreements, including the financing, for the construction, operation and maintenance of the Nachtigal hydropower plant.
The project entails the design and construction of a 420-MW hydropower project on the Sanaga river near the Nachtigal Falls, located 65 km to the north-east of Yaoundé, as well as the operation of this facility for a period of 35 years. It also includes the construction of a 50-km power transmission line. The project will be owned and operated by NHPC (Nachtigal Hydro Power Company), currently owned by EDF (40%), IFC (30%) and the Republic of Cameroon (30%).
A cornerstone of Cameroon’s electricity sector development plan, Nachtigal is a national priority which will enhance the reliability of the country’s power system. Its expected power generation will cover more than 30% of the country’s electricity demand, amounting to an annual output of nearly 3TWh.
Construction will begin by the end of 2018, when the financial closing is completed. The dam is due to be fully commissioned in 2023.
The Herbert Smith Freehills team that advised EDF and IFC is composed in Paris of Christophe Lefort, partner, Mathias Dantin, of Counsel, Raphaëlle Buot de l'Epine and Erwann Nicot, associates, on projects matters, Eric Fiszelson, partner, Christelle Salmon Lataste, Of Counsel, on financing aspects, and Christopher Theris, partner, on corporate aspects. The team in London is composed of, Martin Kavanagh, partner, Lisa Quelch and Joanne Elson, associates, on financing aspects.
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