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Infinity Power to develop projects in Cameroon: Our friends at Infinity Power signed an MoU with the Cameroon West Regional Council to develop 4 GW of various renewable energy projects by 2035, according to a press release (pdf). The projects could include solar, wind, battery storage, and biomass facilities.
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We knew this was coming: Infinity was planning to gather USD 2 bn in debt and equity to develop 4 GW of small-scale projects in West Cameroon, CEO Mohamed Ismail Mansour told Bloomberg earlier this month.
Who else is on it? UN Habitat will offer technical assistance and participate in feasibility studies, create a governance system for energy generation and distribution, design programs for productive energy use, and ensure that communities directly benefit from the energy produced, the press release adds.
REMEMBER- South Africa is also getting a piece of the action: The company wants to expand further in South Africa after closing its acquisition of Africa-focused wind power platform Lekela Power last year, Mansour told the business information service earlier this month. The transaction gave Lekela an enterprise value of USD 1.5 bn. However, Infinity has experienced obstacles with its five existing wind projects in the country and will study over 10 projects across regions to mitigate other possible risks.
