The board of directors of Kikot-Mbebe Hydro Power Company (KHPC) will convene on May 28, 2024, in Yaoundé, Cameroon’s capital.
This joint venture, equally owned by the State of Cameroon and the French group Électricité de France (EDF), is tasked with designing, developing, building, and operating the Kikot dam, which is projected to have an installed capacity of 500 MW. One key agenda item is the appointment of a new CEO.
EDF has nominated Christophe Avognon for this position according to an official source. As this role is statutorily assigned to the French group, the board’s approval is anticipated to be a formality.
Christophe Avognon, a hydraulic engineer educated at the National Polytechnic Institute of Grenoble, will replace Marlène Biessy, who has led the project since its inception in September 2023. Avognon currently serves as the regional director of EDF archipel Guadeloupe, where he oversees electricity production, balance management between supply and demand, transportation, and distribution in this French overseas territory.
With 35 years of professional experience, including 30 years at EDF, the new KHPC CEO will assume his role on June 1, 2024. His primary responsibilities will include securing funding for the Kikot hydroelectric project and commencing construction.
According to the activity schedule revealed on September 25, 2023, during the installation ceremony of KHPC’s inaugural leadership in Yaoundé, the stakeholders aim to complete financing by September 2025 and begin construction in the same year, with project completion targeted for 2030.
Initial estimates from EDF indicate the project will exceed one billion euros (more than 650 billion XAF).
To secure this funding, EDF plans to collaborate with donors such as the World Bank, particularly through its private sector financing arm, the International Finance Corporation (IFC).
The Ministry of Economy has expressed its willingness to work with EDF’s teams to engage the World Bank Group, specifically the IFC, for the financial closing of the project. This intention was revealed on September 27, 2022, following discussions with EDF officials.
For context, the IFC is already involved in financing the Nachtigal hydroelectric project, where EDF holds a 40% stake in the project company, Nachtigal Hydro Power Company (NHPC).
This project, which includes constructing a 420 MW hydroelectric plant, is slated for completion in December 2024. The IFC, which controls 20% of NHPC’s capital, has committed 217 million euros (over 142 billion FCFA) in equity and loans, representing more than 18% of the total financing.
In addition to the 500 MW plant, the Kikot hydroelectric project encompasses the construction of a 400 kV high-voltage line. This line will transport energy to Boumnyébel, from where it will be distributed within the Southern Interconnected Network (RIS), covering seven of Cameroon’s ten regions.
Ultimately, the Kikot dam is expected to become the largest low-carbon infrastructure ever constructed in the Central African sub-region, according to Valérie Levkov, EDF’s director for Africa, the Middle East, and the Eastern Mediterranean.