Renewable energy developer Joule Africa and the Republic of Cameroon have announced the details of a Project Development Agreement that will advance a new 450 MW hydroelectric plant.
The parties announced that they had signed a memorandum of understanding for the US$1 billion hydropower project's development in March.
Joule said it will now rely on consultant group Lahmeyer Internationa to perform feasibility and bankability studies.
"This new agreement sets a strong and balanced foundation for the next phase in the project's development," said Dr. Basile Atangana Kouna, Cameroon's Minister of Water Resources and Energy.
The project, to be located on the Katsina-Ala River near the Nigerian border, will initially increase Cameroon's installed capacity by at least 40% with the option for expansion to 850 MW possible, Joule said.
Cameroon is also working on the 56-MW Lom Pangar project, which received $132 million from the World Bank in April.