Sierra Leone: Freetown PPA seals deal for CEC

A power purchase agreement (PPA) signed by the Sierra Leonean Ministry of Finance and Zambia’s Copperbelt Energy Corporation (CEC) for a 128MW heavy fuel oil power plant to supply Freetown has been ratified by the national parliament, opening the way for mandated lead arranger the World Bank’s International Finance Corporation to move towards financial close. This is expected in late 2014-early 2015 and construction will begin immediately thereafter, under a schedule that envisages commercial operation starting in Q3 2016. Tender documents are expected to emerge within the next four to five months.