Cameroon’s agency regulator charged with the electricity sector (Arsel), with the financial support of the European Union will be hosting from March the 10th to the 13th the first ever investment electricity forum in the country. The event coordinators have chosen as theme "Investing in decentralized electrification through biomass and small hydro".
Cameroon Concord gathered that the show plans to attract 25 foreign companies to explore investment opportunities in the sub-sector of rural electrification through renewable energy (hydro and biomass). The event is an extension of Invest'Elec project, launched since 2012, which aims to enable the different actors involved in the electricity sub-sector, to realize through public-private partnerships, joint ventures for the immense potential of rural electrification in Cameroon.
In a statement issued to local and international media houses, Jean Pierre Kedi, the CEO of Arsel revealed that the penetration rate of rural electrification in Cameroon is estimated at 14%, despite the great potential available in the country. Pierre Kedi added that the gap between supply and demand is has always been negative. The objective of this first living Invest'Elec, is to boost rural electrification in Cameroon. The European Union has supported Cameroon in the rural electrification project to the tune of over 230 million euros, more than 150 billion CFA francs.