Sierra Leone: IFC supports thermal IPP

The International Finance Corporation (IFC) has announced a commitment of $27m in senior debt to support the Western Area Power Generation Project, Sierra Leone’s first independent power project. IFC also acted as the lead arranger and interest rate swap provider to mobilise a further $109m in long-term financing from other development finance institutions, including the African Development Bank, CDC Group, the Emerging Africa Infrastructure Fund and the Netherlands’ FMO. Abu Dhabi-based TCQ Power is developing a 57MW heavy oil fuel-fired power plant in an industrial zone about 4km outside Freetown.