Cameroon power firm to spend $60 mln on improving supplies in 2015

YAOUNDE (Reuters) – Cameroon power company eneo plans to invest 37.5 billion CFA francs ($62 million) in 2015, its general manager said on state radio on Tuesday, as it seeks to improve the reliability of the country’s power supply.The central African oil and cocoa producer suffers from regular blackouts, especially in the dry season as water levels in hydroelectric reservoirs dwindle. Cameroon has vowed to improve electricity supplies as part of a broad economic plan to become an emerging market country by 2035.”The majority of this budget, or 20.5 billion CFA francs ($34 million), will be spent on the renewal, reinforcement and extension of the network for distribution and transmission of electricity,” said Joel Nana Kontchou, ENEO’s managing director.Eneo, co-owned by private equity firm Actis and the Cameroonian government with nearly 1,000 megawatts of power capacity, said work on improving transmission to the commercial capital Douala will begin this week.The works will result in supply disruptions for the next few months in the city, the company added.($1 = 604.3500 CFA francs)