Petroleum Africa
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Monday, July 22, 2013
Sierra Leone is looking to shore up private investment to the tune of $3.5 billion to increase energy output by 2017. The deputy energy minister Martin Bash-Kamara told Reuters that the price tag was the projected costs in order to reach 1 GW of energy.
Significant progress has been made with many private investors already involved in the country’s energy sector including Hydrochina, renewable energy company New Generation Energy, Joule Africa, and many more. However, Sierra Leone is losing between 30% and 38% of power because of problems with its transmission lines. The minister said that the aging of the grid, the call for investors will help make a more attractive investment. The country is also hoping to become a power exporter to the West African Power Pool transmission line.
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