The first Independent Power Project (IPP) has closed in Cameroon.
The transaction involved refinancing the Dibamba Power and Development Company (DPDC), a joint venture between US-based global power company AES (56%) and the Government of Cameroon (44%).
The project, worth €92.4 million ($132.9 million), is one of the first Development Finance Institutions (DFI) financed projects to sign since the financial crisis.
The €70 million debt financing for DPDC was provided by a consortium of DFIs, including the...