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Bumbuna Hydroelectric Project Phase-II to achieve financial closure

Monday, 27 Jul 2020
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The construction of Phase-II of the Bumbuna Hydroelectric Power Project in Sierra Leone is moving closer to financial closure following the financial support pledge from InfraCo Africa.

The Private Infrastructure Development Group (PIDG)-owned company has guaranteed to offer USD six million for implementation of the renewable energy project which is being developed by Joule Africa.

InfraCo Africa becomes the fourth body to pledge support to the Bumbuna-II Hydropower Project.

Others are Electrification Financing Initiative (ElectriFI), an investment facility funded by the European Union and managed by European Development Finance Institutions, the Development Bank of South Africa (DBSA), a development finance institution wholly-owned by the government of South Africa and the African Alpha Investment Partners, a London-based investment company established to help bring investment opportunities and capital together across the African continent.

Joule Africa hopes to complete the financial leveraging process for its project by 2021, so as to begin actual construction works which will take 48 months to complete.

The Bumbuna-II Hydropower Project envisages construction of a new 115 sq km dam on the Seli River at Yiben that will provide water to rotate two turbines at the Bumbuna-II hydroelectric power station producing approximately 143 MW electricity.

The electricity will be injected into the country’s power grid through 225 kV transmission line from Yiben to Freetown.

This high voltage line will also be connected to the West African Power Exchange System which interconnects several neighbouring countries including Côte d’Ivoire, Liberia and Guinea.

 
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