Cameroon’s Kpep Hydropower development has been split into three phases. Phase I includes the feasibility studies which are progressing, according to Joule. The geotechnical drilling and topographical surveys started in October 2017, with further technical, environmental and social studies starting earlier this month. Phase I studies are expected to be completed by May 2018.
Phase 1 studies are expected to be followed by Power Purchase Agreement term sheet negotiations with the off-taker, ENEO, and the government of Cameroon. Phase I funding has been secured through contributions from Joule’s Chinese JV partner (WIETC), internal resources, and direct investor contributions to the Kpep Project. Financial close is targeted form mid-2021.
Joule is actively working on securing funding for Phase II.