Sierra Leone Minister of Finance and Economic Development Signs Loan Agreement for Solar Power
Sierra Leone Minister of Finance and Economic Development has signed a loan agreement for Solar Park Freetown (6MW) as part of International Renewable Energy Agency/Abu Dhabi Fund for Development (IRENA/ADFD) financing facility.
The signing ceremony took place last evening in Abu Dhabi, UAE. It has been referred to as a landmark renewable energy project in West Africa, adding valuable and needed clean electricity to the grid.
A statement issued by Sierra Leone government said that the Ministry of Finance and Economic Development is pleased to announce that Sierra Leone has won the first call for proposals for the prestigious International Renewable Energy Agency/Abu Dhabi Fund for Development (IRENA /ADFD) financing facility; and have today signed the 6 MW Freetown Solar Park project which will target urban and western rural districts around the capital, Freetown.
“Pursuant to actualizing the vision of H.E. President Dr. Ernest Bai Koroma, we wish on behalf of the Government of Sierra Leone to thank Mr. Siray Timbo, Special Envoy of H.E. the President and Ambassador to the UAE; the Ministry of Energy; Mr Bahige Annan, The Consul General of Sierra Leone in Dubai and Mr. Filip Matwin, General Manager of Advanced Science and Innovation Company (ASIC) LLC/OGI, for coordinating and putting together the winning bid. ASIC/OGI will facilitate co-financing and management of the project in collaboration with the Ministry of Energy,” said , Minister of Finance and Economic Development, Government of the Republic of Sierra Leone.
The $18 million clean energy project includes institutional and critical human resource arrangements for sustainable management of the facility.
Sierra Leone extended her gratitude to IRENA for coordinating the selection process, the ADFD for extending $9 million as part funding to the Government of Sierra Leone and ASIC/OGI that will coordinate additional $9 million as private equity.
The project will place Sierra Leone on the global map of Renewable Energy; and further strengthen the existing cordial relationship between the Governments of Sierra Leone and the United Arab Emirates.
