AfDB finances its first Independent Power Producer Project in Sierra Leone
Sierra Leone will soon benefit from the construction and operation of a 50 MW power plant.
The Board of Directors of the African Development Bank (AfDB), on 17 December, 2015 in Abidjan, approved a senior loan of up to USD 20 million to fund up the construction and operation of a 50MW Heavy Fuel Oil (HFO), interconnection facilities and a fuel pipeline in Kissy, four kilometers east of Freetown, Sierra Leone.
This project provides a unique opportunity for Sierra Leone to address its energy deficit using an independent power producer (IPP) solution to allow for affordable prices. It will be implemented by both Tempus Constant Qualitas Power Limited (TCQ) and CEC Africa Investment Limited (CECA).
In a country with over 50% supply deficit of electricity generation capacity and only 10% of the population currently having access to electricity supply, the new power plant is planned to add 60% generation capacity to the grid and create opportunities for private sector investment. This Project is essential in supporting the country’s post Ebola economic recovery.
The much needed power plant will allow Sierra Leone to meet the power demand of its households, commercial/industrial users as well as boost economic activities. It will also facilitate the delivery of social services such as health care, education, clean water supply thereby improving the living conditions of Sierra Leoneans. Upon completion, the plant will serve as the largest base load plant in Sierra Leone.