Sierra Leone gets $52 M for its first large-scale grid-connected solar IPP
A $52 million investment for the Planet Solar project in Sierra Leone has been announced.
Image for illustration purposes.
Sierra Leone, Freetown: A $52 million investment for the Planet Solar project in Sierra Leone has been announced.
In a significant step towards clean energy and improved electricity access, a consortium of Development Finance Institutions (DFIs) and renewable energy fund manager Frontier Energy have announced a co-investment of over $52 million for the Planet Solar project in Sierra Leone. This greenfield 50 MW project will be the country’s first large-scale grid-connected solar Independent Power Producer (IPP).
The investment underscores the country’s commitment to diversifying its energy mix and addressing the urgent need for clean, affordable, and stable power. Only 23% of Sierra Leone’s population has access to electricity, and 80% of the country’s electricity is generated from fossil fuels.
“This project is a critical step towards unlocking Sierra Leone’s abundant renewable energy potential and accelerating progress towards net-zero emissions. By supporting Planet Solar, we are not only providing clean energy to underserved regions but also laying the foundation for a more sustainable future,” said Chris Chijiutomi, Managing Director and Head of Africa at BII.
The solar capacity is expected to increase the operational domestic electricity supply by about 30%, benefitting commercial and industrial entities, public institutions, and households connected to the main grid. This will bring power to communities in Freetown, the Western Area, and beyond.
The project also aligns with the United Nations’ Sustainable Development Goals (SDGs) for Affordable and Clean Energy (SDG 7), Decent Work and Economic Growth (SDG 8), and Climate Action (SDG 13). It is supported by the Africa Resilience Investment Accelerator initiative, co-led by BII and FMO, which aims to unlock investment opportunities and mobilize commercial capital in frontier markets across Africa.
Source: Empower Africa
#Frontier Energy#Planet Solar#Renewables#Sierra Leone#solar power