Sierra Leone: New Denham Capital company to build Bumbuna Phase II

Denham Capital’s new vehicle Endeavor Energy has entered into a joint development agreement with Joule Africa to develop the $700m Bumbuna Phase II Power Project, adding 202MW to Bumbuna HEP’s existing 50MW. Endeavor was set up in June following an initial commitment from the private equity firm’s $3bn Fund VI (AE 257/6). Endeavor has agreed to fund the remaining development costs for the project and expects to invest up to 75% of Bumbuna Phase II’s equity at financial close (estimated $150m). Endeavor is led by Houston-based Sean Long, a former head of Enron International’s operations in Africa.