- Rédaction Africa Links 24 with Journal du Cameroun
Published on 2024-02-28 11:05:58
The provider of home solar systems has just been acquired by Electricité de France (EDF).
Electricité de France (EDF) is now the majority shareholder of the start-up upOwa, specializing in the supply of solar kits. EDF announced in Yaoundé that this investment allows them to take “control” of upOwa and strengthen their presence in the energy sector in Cameroon, where the French group is already involved in the hydropower projects of Nachtigal (420 MW) and Kikot (500 MW).
The announcement was made during a meeting in Yaoundé on February 19, where Olivier Fesquet, the general manager of EDF’s Cameroonian subsidiary, emphasized the strategic importance of Cameroon for the French group. This operation is in line with EDF’s desire to accelerate the development of low-carbon solutions in the country, thus contributing to the ongoing energy transition.
“The Cameroon is a country of interest for EDF in which we already position ourselves as a privileged partner in the electricity sector to contribute to the development of electricity production. For EDF, this new investment strengthens an already strong anchorage, thus helping to get closer to the goal of providing low-carbon solutions to all populations,” said Olivier Fesquet, the general manager of the Cameroonian subsidiary of the group.
Loic Descamps, CEO of upOwa, expressed his confidence in this alliance, stating that it would significantly strengthen the company’s ability to meet the growing energy needs of Cameroon while promoting sustainable development. Since its inception, upOwa has created more than 100 direct jobs and nearly a thousand indirect jobs, thereby contributing to the local economy.
Read the original article(French) on Journal du Cameroun
