Bumbuna II
- Country
- Sierra Leone
- Technology
- Hydro
- Business model
- IPP
ElectriFI global invested USD 3.5m 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 M
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.
- Number of beneficiaries
- 6,616,400
- Annual output (MWh/y)
- 973,000
- GHG avoidance (tCO2eq/y)
- 391,146
Impact
- 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