Joule Africa has bought out Endeavor Energy and now owns 100% of the 202-MW Bumbuna II hydropower plant in Sierra Leone.
Bumbuma II is the expansion of the 50-MW Bumbuna plant, on the Seli River, that was commissioned in 2009.
Lahmeyer International completed the feasibility study and managed a tender process to short-list Salini Impregilo S.p.A and Hycrochina-Sinohydro as the potential EPC contractors. ERM is completing the environmental and social impact studies in conjunction with CEMMATS.
The EU Africa Infrastructure Trust Fund is providing technical assistance funding to pay for legal, technical, financial and procurement advisors for the government of Sierra Leone. Financial close on the project is targeted for the second half of 2017. Joule Africa and its strategic equity partner, African Infrastructure Investment Managers, will provide equity funding, with debt funding expected to come mainly from international development finance institutions, according to a press release.