Developing Renewable Energy : Government Engages Indian Firm
By Godlove BAINKONG, Cameroon Tribune, 24-12-2014
The government of Cameroon has gone into partnership with Signature
Africa Venture Limited, part of a Dubai-based investment holding
company, Signature Group Capital Partners, for the outfit to carryout
feasibility studies across the country in view of developing diverse
renewable energy sources.
Energy and Water Resources Minister (MINEE)
Basile Atangana Kouna and the Business Development Director of the
Indian firm, Vikas Bhatnagar, signed four Memorandums of Understanding
(MoUs) in Yaounde yesterday December 23.
These include studies for developing a rural electrification project,
construction of a biomass electricity development pool and a solar
energy pool as well as mini hydroelectricity plants in some regions of
the country on the Build, Operate and Transfer (BOT) mode. Speaking to
reporters after the ceremony, Vikas Bhatnagar said Signature Africa
Venture Limited will by the MoUs bring its strong team of experts to
start off studies as early as January. “All these will be at our cost.
Our technical team will be here to carry out the studies and we are
fully ready to put our manpower and resources here. Renewable energy is
the most cost-effective energy source which can be used without any
disruption in the country,” he said. Vikas Bhatnagar sounded upbeat
that with experience the company has acquired elsewhere especially with
the development of a biomass project in Mozambique, effectively carrying
out the studies for an optimal execution of the different projects
capable of bridging the electricity demand/shortfall in the country,
will be their priority.
“Signature Africa Venture Limited is promoted by Signature Group
Capital Partners and we are involved in investments and project
development. We take up projects in different countries based on the
need of the country and we liaise with the government to see how we can
add value to meet development needs,” he added.
Lauding the company, Minister Atangana Kouna pledged government’s
determination to give the firm all needed support for efficient win-win
investments in the renewable energy sector. He said a follow up
committee will be put in place to oversee the effectiveness of the
project.
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