Sierra Leone’s President Julius Maada Bio Launches $412 Million Gas Power Generation Plant.

Kissy Dock Yard, Freetown, Tuesday 18 June 2024 –His Excellency President Dr Julius Maada Bio and First Lady Fatima Maada Bio have launched the country's first gas power generation plant, demonstrating the government's commitment and readiness to attract sustainable foreign investments in large infrastructure projects with long-term commitments.

The project, with the United States Government as the largest funder and the ECOWAS Bank for Investment and Development (EBID) providing support, will also restore hope to the Kissy Dock Yard community, a huge area in the east of the capital city, that has been neglected for decades. Already, members of the industrial community have expressed happiness, willingness, and commitment to accepting the project because it will address their appeal for job creation.

President Julius Maada Bio described the celebration of the groundbreaking ceremony as a transformative moment with the country’s first large utility-scale independent power project. He revealed that developing and upgrading the power plant infrastructure of the Freetown-based Western Area Power Generation Project would promote reliable access to electricity across Sierra Leone.

He noted that the project was a testament to the country’s vision for a sustainable and cleaner energy sector that would ensure universal access to modern, affordable, and reliable energy services by 2035. He informed the audience that, for far too long, the country has faced significant challenges in meeting its energy needs, including inadequate access to affordable and reliable modern energy services.

“Today, a new dawn is upon us as we take a decisive step to change that narrative. We are here to lay the foundation for a power generation project that will provide our nation with reliable, affordable, cleaner, and sustainable energy. The ‘BEACON ENERGY GENERATION PROJECT’ is not just a project. It is a transformative force, a beacon of hope, and a symbol of our unwavering commitment to developing our energy sector in a socially, economically, and environmentally sustainable manner.

“The 148.5 MW Power Purchase Agreement for the Western Area Power Generation Project, signed by my Cabinet in November 2023 and ratified by the Sierra Leone Parliament, is to construct and commission a 22-year liquefied petroleum gas (LPG) and liquefied natural gas (LNG) plant. Once completed in 36 months, the project will play a crucial role in meeting Sierra Leone’s energy needs, a significant step towards a more sustainable and prosperous future,” the President said.

Deputy Chief Executive Officer of the United States International Development Finance Corporation, DFC, Nisha Biswal, thanked President Bio, his government, and the people of Sierra Leone for being resilient and development-oriented. She pointed out that there was a great change in the country as compared to when she first visited some years ago. She described her office as one that was committed to the people of Africa, with Sierra Leone being one of their largest portfolios.

Ms. Biswal revealed that the project had quite a long journey, but with commitment and dedication from President Bio, they had brought it to life, confirming that upon completion power generation would nearly double the present generation capacity in the country.

The United States Ambassador to Sierra Leone, Bryan Hunt, said it was a great pleasure for him to celebrate the groundbreaking ceremony of the energy project, pointing out that his government had taken great pride in its partnership with their private sector sponsors as well as with the government of Sierra Leone to finalise the project.

He said the project would revolutionise Sierra Leone’s energy landscape with reliable and affordable electricity for communities across the nation, adding that the $412 million in finance and political risk insurance affirmed their dedication to supporting the growth of Sierra Leone’s energy sector.

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