Orrick advised ENEO on the development project of a 420 MW hydropower plant in Nachtigal, located on the Sanaga River in southern Cameroon. ENEO acts as the offtaker for this €1.2 billion Independent Power Generation (IPP) project, developed by a consortium formed by EDF, IFC and the Republic of Cameroon. Orrick assisted ENEO in the negotiation of the project contracts, in particular the power purchase agreement, the agreements with the government and the direct agreement with the lenders.
The development of this hydroelectric power plant is the largest IPP in Africa ever funded until now and the first to be finalized after the extension of the electricity sector reform in the country. This project is a strategic priority for the Republic of Cameroon as the Nachtigal power plant will provide 30% of the country's electricity, therefore providing the country with a key additional source of stable electricity generation over 2020.