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project

Bumbuna II

Country
Sierra Leone
Technology
Hydro
Business model
IPP

ElectriFI global invested USD 3.5 million to support the Bumbuna II hydropower project, Sierra Leone’s largest infrastructure project and a key part of the government’s long term energy plan.

Contract signature date: December 2018
Country: Sierra Leone
Total ElectriFI financing: USD 3.5 million (equivalent EUR 3 079 433)
Environmental and Social Category*: A

*(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk

About the project:

EDFI ElectriFI contracted a USD 3.5m convertible loan to Joule Africa in order to finance 50% of the external final hurdle development expenses aimed at reaching financial close of its Bumbuna II project, which aims to stimulate Sierra Leone’s government energy sector and support its economic growth strategy.

Joule Africa is in late stage development of the 143 MW Bumbuna II hydro project in Sierra Leone. The project comprises a dam resulting in a new reservoir at the Yiben area and the extension of  the existing Bumbuna I hydropower site, 32 km downstream. Once completed, Bumbuna II is estimated to generate 1,062 GWh per annum and will provide a minimum guaranteed 80MW power throughout the year. It will connect to the national grid and sell its output under a 25year PPA with national utility EDSA.

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Investment disclosure

Impact

Number of beneficiaries
6 616 400
Annual output (MWh/y)
973 000
GHG avoidance (tCO2eq/y)
391 146

Key indicators

Beneficiary
Joule Africa
Financing instrument
Convertible debt
Amount
USD 3.5 million
Country
Sierra Leone
Technology
Hydro
Business model
Independent Power Producer
Year
2018
Facility
ElectriFI global

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