Sierra Leone | Africa Inc.

PowerGen Renewable Energy commissions mini-grids in Sierra Leone

May 21, 2021May 21, 2021 Frank

SIERRA LEONE – Solar energy provider PowerGen Renewable Energy is commissioning mini-grids in four communities in Sierra Leone. With a total capacity of 150 kWp, the solar systems were installed in partnership with InfraCo Africa, a finance company of the Private Infrastructure Development Group (PIDG). The solar mini grids recently commissioned by solar energy provider PowerGen Renewable Energy are located in Baoma Koya, Sumbuya, Gorahun and Gegbwema. These installations consist of solar panels, inverters and battery storage systems and are capable of delivering a total of 150 kWp. PowerGen has…

Sunon Asogli Power to deploy 200MW solar power plants in Sierra Leonne

March 31, 2021March 31, 2021 Frank

SIERRA LEONNE – Sunon Asogli Power Ghana Limited, Ghana’s biggest Independent Power Producer, has announced plans to expand to Sierra Leonne with a solar power plant in Freetown. The giant power producer is planning deploy toa 20MWp-50MWp [megawatt power] Solar PV in one year and another 160MW to be known as Benkongor Hydro plant in four years. According to Business Development Manager of the Company, Elikplim Apetorgbor, the expected total investment cost for the two projects is about US$700million. According to him, the 20MWp – 50MWp Solar PV plant deployment…

World Bank approves US$50m to improve electricity access in Sierra Leone

February 2, 2021February 2, 2021 Frank

SIERRA LEONE – The World Bank board of executive directors has approved a US$50 million grant from the International Development Association (IDA) to improve access to electricity in Sierra Leone and enhance institutional capacity and commercial management of the sector. The project will also be co-financed with a US$2.7 million grant by the Japan Policy and Human Resources Development Fund. The Enhancing Sierra Leone Energy Access project will support the country’s post-COVID-19 economic recovery by providing electricity to households, businesses, health clinics and schools. This is a critical part of…

Escotel secures US$25m from World Bank’s MIGA for solar power generation in West Africa

January 22, 2021January 22, 2021 Frank

WEST AFRICA – Escotel Mauritius, an energy services company, has secured a guarantee of up to US$25.6 million from MIGA, a member of the World Bank Group, to cover its investments in solar power generation in Sierra Leone and Liberia for a period of up to ten years. The MIGA guarantees provide protection to Escotel Mauritius against the risks of Transfer Restriction, Expropriation, and War and Civil Disturbance. MIGA’s guarantees will support the provision of electricity and logistical services to power existing and future cell phone towers (Telecommunication Network Sites…

SEforALL launches mini-grid funding facility in Sierra Leone and Madagascar

November 5, 2020November 5, 2020 Frank

MADAGASCAR – The Universal Energy Facility, a results-based financing facility managed by Sustainable Energy for All (SEforALL), is now officially open with its first wave devoted to supporting mini-grid deployment in Sierra Leone and Madagascar. Companies seeking results-based finance for mini-grid projects in Sierra Leone and Madagascar can now apply for pre-qualification to the facility. Under this scheme, the Universal Energy Facility will disburse $3 million in grant payments to deliver over 6,900 electricity connections based on a results-based incentive of $433 per electricity connection. SEforALL, in collaboration with several…

Miro Forestry raises US$48m in fundraising round led by CDC to boost sustainable forestry

August 31, 2020August 31, 2020 Frank

WEST AFRICA – Miro Forestry, a sustainable forestry and timber business with plantations in Ghana and Sierra Leone, has raised US$48 million in a fundraising round led by UK impact investor, CDC. CDC led the financing round by committing a total of US$12 million while 4 other partners contributed the remaining balance to close the US $48 million fundraising round. According to a statement by CDC, the deal affirms the UK impact investor’s newly launched climate change strategy to prioritise investments that combat the climate crisis. According to the CDC,…

Sierra Leone’s Joule Africa secures US$6m from InfraCo for Bumbuna II hydroelectric project

July 24, 2020August 29, 2020 Frank

SIERRA LEONE – Joule Africa, a developer owner-operator of sustainable power projects across Africa, has secured US$6 million from InfraCo Africa for the implementation of the second phase of the Bumbuna Hydroelectric Project in Sierra Leone. The Bumbuna II hydropower project will involve the construction of a new dam on the Seli River at Yiben, 32 km upstream of the 50MW Bumbuna I dam. The future reservoir will have a surface area of 115 km² , storing enough water effectively run a hydroelectric power station equipped with two turbines. “The…

Sierra Leone signs deal with Turkey’s Karpowership for additional power supply

July 16, 2020August 29, 2020 Frank

SIERRA LEONE – Sierra Leone has signed a new power deal with Turkey’s Karpowership for the supply of additional power for the next 5 years. Karpowership which is the world’s largest operator of floating power plants, will according to the deal supply Sierra Leone’s state utility firm with power for the entire deal period. A report by Africa Energy Portal revealed that under the new agreement, Karpowership will add 5 more megawatts to the current power that it supplies the West African Nation. Karpowership will now be required to generate…

African Development Bank commits US$14m to support innovative farming in Sierra Leone

February 14, 2020February 14, 2020 Frank

SIERRA LEONE – The African Development Bank has committed US$14 million to help Sierra Leone implement innovation in agriculture. According to Sierra Leone Telegraph, the money from AfDB will also be used to tackle corruption in fertilizer distribution, seeds acquisition and distributions to farmers. The announcement was made during the just concluded AU summit in Addis Ababa, Ethiopia immediately after a high-level meeting between the President of the African Development Bank (AfDB) – Dr Akinwumi Adesina and the President of Sierra Leone H.E Julius Maada Bio. Both leaders according to…

InfraCo Africa invest US$6.9m in Sierra Leone mini-grid power project

October 25, 2019October 25, 2019 Frank

SIERRA LEONE – InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed a shareholders’ agreement (SHA) with PowerGen, committing US$6.9 million to develop the Sierra Leone mini-grid project. The project company, Off-grid Power, will develop a portfolio of solar mini-grids across the southern and eastern half of Sierra Leone. As part of wider efforts by the government of Sierra Leone to address limited rural electrification, the groundbreaking project will roll out clean solar power in up to 41 remote communities, delivering first-time access to electricity for homes…