Four major investment companies have announced substantial funding of $52 million for the creation of four solar photovoltaic power plants in Sierra Leone. This decision marks a turning point towards sustainable energy solutions in West Africa.
The project, spearheaded by Planet One in collaboration with Frontier Energy, aims to develop 50 MW of installed solar capacity in Sierra Leone. The funding, marshaled by a consortium of international financial institutions, is expected to catalyze Sierra Leone’s transition to renewable energy.
The investment comes from notable entities including the Netherlands Development Finance Company (FMO), British International Investment (BII), and Proparco, a subsidiary of the French Development Agency (AFD).
Lars Tejlgaard Jensen, the Chief Investment Officer and Partner at Frontier Energy, emphasized the project’s potential to provide stable, clean, and affordable electricity.
He highlighted the commitment to overcoming challenges and the impact on both urban and rural consumers, as well as on commercial and industrial sectors.
Sierra Leone faces a severe energy deficit, with nearly 80% of its population lacking access to electricity. The country’s reliance on biomass, such as firewood and charcoal, has been the primary source of energy, contributing to environmental degradation. The introduction of a 50 MW solar capacity is projected to boost the domestic electricity supply by 30%, thereby alleviating some of the energy shortages.
The solar power project encompasses four sites across Sierra Leone. The largest, a 25 MWp plant, is to be constructed in Makoth, linking to the Freetown/Bambuna transmission line.
Other locations include BO/Kenema (12 MW), Kono (10 MW), and Port Loko (4.5 MW), each designed to cater to their respective regional energy needs.The generated electricity will be sold to the Electricity Distribution and Supply Authority (EDSA), which is responsible for public power supply in Sierra Leone.
The COP28 announcement not only marks a significant leap in Sierra Leone’s journey towards sustainable energy but also underscores the role of international collaboration in addressing global climate challenges. This initiative is expected to propel Sierra Leone towards a greener future, with positive implications for economic growth, environmental conservation, and overall quality of life.
Very interesting