The Cameroonian government is considering renegotiating contracts with KPDC (Kribi Power Development Corporation) and DPDC (Dibamba Power Development Corporation) following the planned acquisition of Globeleq's assets in the Kribi and Dibamba thermal power plants. The primary objective is to reduce the financial burden on Socadel, formerly ENEO.
According to a restructuring plan developed by the Ministry of Water and Energy (Minee) in March 2026, the current contracts with KPDC and DPDC represent a monthly expenditure of approximately 8 billion FCFA. The renegotiation aims to decrease this burden by about 3 billion FCFA per month while optimizing the operation of the two plants to reduce their overall costs.
Discussions regarding Globeleq's withdrawal from the Cameroonian market have progressed, with formal negotiations initiated between the government and the group in March. These negotiations focus on the amicable transfer of the Kribi gas-fired power plant (216 MW) and the Dibamba heavy fuel oil plant (88 MW). These infrastructures, 56% owned by Globeleq Cameroon and 44% by the State, supply over 20% of the electricity to the Southern Interconnected Grid, powering key areas such as Douala, Yaoundé, and Kribi.
The acquisition of Globeleq's shares would allow for a thorough revision of the economic model of these power plants. The Cameroonian government would not only seek to take over the assets but also aim to optimize and potentially expand production capacities, thereby reducing costs for the electricity system.
This approach is part of a broader government strategy to regain control of the electricity sector. Following the acquisition of Actis' shares in ENEO, the acquisition of Globeleq's assets would strengthen the State's position in electricity production, complementing its role in transmission (via Sonatrel) and dam management (via EDC).
Yaoundé's interest in Kribi and Dibamba was evident in July 2025 when the State activated its pre-emption right to block the transfer of assets to a third party, notably Savannah Energy. The matter has evolved from a defensive stance to an offensive approach, aiming to alleviate a bill deemed excessive. The purchase price of Globeleq's assets and the negotiation timeline have not yet been disclosed. The State will need to demonstrate its ability to finance this operation without compromising the financial stability of the electricity sector.
