ElectriFI Commits Funds For 143MW Hydropower Project In Sierra Leone

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ElectriFI Commits Funds For 143MW Hydropower Project In Sierra Leone

  • 21 Jan 2019
  • Sierra Leone
  • Infrastructure

News: The Electrification Financing Initiative (ElectriFI) has committed USD3.5mn to fund half of the external development expenses required to reach financial close for the Bumbuna II hydropower project in Sierra Leone. The project involves adding 143MW of capacity to the existing 50MW Bumbuna station on the Upper Seli River. The scheme is entering the final stages of development and is a major part of Sierra Leone’s long-term Energy Plan. Project sponsor Joule Africa has signed a 25-year power purchase agreement with the central government for the project and a preferred engineering, procurement and construction contractor has already been selected. Joule Africa will soon select mandated lead arrangers for the debt finance and the construction is due to start by the end of 2019 (International Water Power & Dam Construction).

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