InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed an agreement with lead developer Joule Africa to provide US$6mn of funding to the 143MW Bumbuna Hydro II initiative in Sierra Leone
The funding forms part of a package involving the private sector and development finance institutions designed to ensure that Bumbuna Hydro II can go the “last mile,” reaching construction and operations to deliver year-round, renewable baseload power in Sierra Leone.
Bumbuna Hydro II is expected to begin construction in 2021.
The project is being delivered by experienced renewables developer, Joule Africa, through local project company, Seli Hydropower. Located on the Upper Seli River, 230km north east of Sierra Leone’s capital, Freetown, the Bumbuna Hydro II project will enable distribution of significant additional power to the national grid. Consumers will benefit from increased reliability of power and will also see cost savings via affordable tariffs and reduced reliance on expensive, polluting diesel backup generation.
InfraCo Africa’s CEO Gilles Vaes said, “Often we are needed in the early stages to develop a concept or prove a pioneering model but, as in the case of Bumbuna Hydro II, we can also come in at a later stage to help with the critical and final push across the finishing line and participating in the project’s steering committee, particularly in these challenging times.”
“Bumbuna Hydro II is expected to have a tremendously positive impact, powering sustainable economic development in Sierra Leone,” Vaes added.
Paul Kunert, CEO of Joule Africa, added, “We’ve been working with PIDG over a number of years and we’re delighted to be able to expand that relationship with InfraCo Africa today.”
InfraCo Africa is committed to supporting the government of Sierra Leone’s National Renewable Energy Action Plan. This investment into the country’s renewable energy sector complements InfraCo Africa’s work elsewhere in the country to develop the pioneering Sierra Leone Mini-grid project. Delivered across 41 sites, Sierra Leone Mini-grid will roll out off-grid solar technology at scale, delivering clean, first time power for remote homes and businesses.
