Cameroon, believed to be the most industrialized of the Central Africa’s CFA monetary union, plans to increase its power supply to 2000 Megawatts by 2015, according to agency reports.

Hopes for the success of the plan increased early in August, following agreement with a UK state firm Sud Energie—controlled by British-owned emerging markets power generator, Globeleg—to build new 200 Mw station at Memve’ele hydropower station.

The project is expected to move power supply in Cameroon from the present 900Mw to 2000Mw in the next eight years, according to the country’s finance minister, Polycarpe Abah, who talked to Reuters after the signing ceremony August 9. “This project is really important for the economy of our country. You know that we are facing serious energy problems every day. It on a daily basis affects our industries, our enterprises and household use. That is why I think the signing of this convention is a giant step in resolving this energy crisis that very negatively impacts our economic growth.’’

To get the project off, a road would need to be constructed to a dam on the Ntem River in the country’s southern province. The power plant would go with a transmission line to link it to the national grid. The project may begin to add power in 2013, according to Guillaume Rivron, business development manager for Bermuda-registered Globeleq, who said work would start in 2008. “It will be realised through the build, operate and transfer principle, with a concession of 20 years, after which we will transfer management to the government of Cameroon," he said.

The Memve’ele power project may gulp over 142 billion francs, according to earlier studies by the government Glogeleg sources, howver, did not disclose the cost. Rivron said Sud Energie was expected to meet 30 percent of the cost with additional financing coming from the Development Bank of Central African States, African Development Bank, Dutch Development Bank, Arab Development Bank and Multilateral Investment Guarantee Agency.

Officials said Canadian aluminium producer Alcan would buy 50 MW of Memve'ele's output to power a planned expansion at its local ALUCAM unit, and the Cameroon rubber company, HEVECAM, would buy a further 20 MW.

Neighbouring Equatorial Guinea had also agreed to buy 50 MW of its output, and Gabon may follow suit, they said.