Tuesday, 5 December 2017

Sierra Leone Parliament Ratifies Key Bumbuna II Project Documents

This marks another important milestone in the development of the Bumbuna II hydropower project which, when completed, will provide much-needed all-year round power to Sierra Leone

LONDON, United Kingdom, December 4, 2017/ -- Following on from the Government of Sierra Leone’s signing of the 25-year Power Purchase and Implementation Agreements with Joule Africa (www.JouleAfrica.com) in August 2017, these important project documents have now been ratified by the Sierra Leone Parliament. This marks another important milestone in the development of the Bumbuna II hydropower project which, when completed, will provide much-needed all-year round power to Sierra Leone.

Under the conditions of the agreement, local project company Seli Hydropower, jointly owned by Joule Africa and its local partner Energy Services Company (ESCO), will build an extension to the existing 50 MW hydro station, Bumbuna I, situated in the north east of the country, adding a further 143 MW of power capacity. Construction on the extension is anticipated to start in the second half of 2018 with operations forecast to start four years later. Seli Hydropower, will be responsible for building, owning and operating Bumbuna II and will also be responsible for operating Bumbuna I.

Commenting on this announcement, Patrick Beckley, Chairman of Seli Hydropower, said:

“We would like to thank the Government of Sierra Leone for their ongoing support and in maintaining their commitment to the Bumbuna II project ahead of General Elections in early 2018. I am delighted that we received approval for ratification in Parliament with no exemptions –  a clear indication that there is unanimous cross-party support for this project.”

“The development of Bumbuna II has always been a key part of the country’s long-term energy strategy and we look forward to being able to deliver affordable, all-year round power for the consumers of Sierra Leone.”

Andrew Cavaghan, Joule Africa’s Chairman and a Director of Seli Hydropower, added:

“I am pleased that we have reached another important milestone in the development of the Bumbuna II project. We are making good progress on all fronts and will look to build on this momentum in the coming weeks and months as we continue to consult with interested parties, appoint a contractor and finalise the relevant financing.”

Distributed by APO Group on behalf of Joule Africa.



For further enquiries, please contact:
Andrew Cavaghan                   
E: Andrew@JouleAfrica.com
Chairman                       
M: +44 (0)7415 105549
Joule Africa

Patrick Beckley                   
E: Patrick.Beckley@SeliHydropower.sl
Chairman                              
M: +232 (0)780 82983
Seli Hydropower

Ben Morton                       
E: Ben.Morton@JouleAfrica.com
Director, Corporate Affairs               
M: +44 (0)7899 792 902   
Joule Africa

*Bumbuna II Hydropower project:
The Bumbuna II hydropower project is Sierra Leone’s largest infrastructure project and is a key part of the Government of Sierra Leone’s long term Energy Plan.
Bumbuna II will be located 200km from Freetown on the Upper Seli River in North East Sierra Leone.
The project involves building an extension to the existing 50 MW Bumbuna I facility.
When complete, Bumbuna II will add 143MW of new capacity and will provide Sierra Leone with a minimum of 80MW of reliable, all-year round affordable electricity.
For further details on Seli Hydropower, visit www.SeliHydropower.sl

Joule Africa:
Joule Africa (www.JouleAfrica.com) is a developer owner-operator of sustainable power projects across Africa. In addition to Bumbuna II, Joule Africa is developing Kpep, a 485MW hydro project in Cameroon, while considering various options for its third project.
Joule Africa puts sustainable development and transparency at the heart of its business practice. The company works closely with all of its stakeholders to create infrastructure assets that will generate long-term value and is dedicated to working closely with Governments to help deliver projects that complement existing plans for social and economic development.
For further details on Joule Africa, visit: www.JouleAfrica.com

SOURCE
Joule Africa
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