OPEC Fund Backs Sierra Leone Energy Expansion
n a significant step toward advancing Sierra Leone’s energy security and sustainability agenda, Hon. Dr. Kandeh Yumkella, in collaboration with the Ministry of Finance under the leadership of Mr. Sheku Fantamadi Bangura, has successfully concluded a series of high-level meetings with the OPEC Fund for International Development (OFID) and the International Renewable Energy Agency (IRENA). These discussions focused on the ongoing rehabilitation and expansion of the Bumbuna 1 hydropower facility—an anchor project within Sierra Leone’s national energy transition strategy and the flagship Mission 300 Compact.
The meetings were held on the margins of the OPEC Fund Development Forum, hosted in Vienna, Austria. This annual event brings together global development stakeholders to explore opportunities for accelerating sustainable infrastructure investment in low- and middle-income countries. Against this backdrop, the engagement between the Sierra Leone delegation and development partners signaled strong international confidence in the country’s commitment to clean energy and economic transformation.
A key outcome of the discussions was OFID’s formal reaffirmation of its commitment to finance the rehabilitation of Bumbuna 1 with an initial allocation of USD 45 million. In addition to this, OFID is actively engaging with a co-financing partner to secure additional resources for the project. While OFID will serve as the lead financier, the prospective partner has requested that the Government of Sierra Leone submit a formal letter of intent, officially inviting their participation in the co-financing arrangement. This next step is critical to mobilizing the total investment needed for the project’s successful implementation.
The Bumbuna 1 facility—Sierra Leone’s principal hydropower station—has long served as a cornerstone of the nation’s electricity supply. However, limited generation capacity and aging infrastructure have hampered its full potential. The planned rehabilitation and expansion aim to double the facility’s output to 100 megawatts (MW) through the installation of two additional turbine-generator sets. This upgrade represents a transformative boost to the national grid, promising more reliable, affordable, and climate-resilient power for households, businesses, and essential services across the country.
Several weeks prior to the Vienna meetings, a comprehensive joint appraisal mission was conducted by IRENA and OFID. The mission was carried out in close collaboration with key national stakeholders, including the Ministry of Finance, the Ministry of Energy, the Electricity Generation and Transmission Company (EGTC), the Electricity Distribution and Supply Authority (EDSA), and the Presidential Initiative on Climate Change, Renewable Energy, and Food Security (PI-CREF). Findings from the appraisal confirmed that the project is technically feasible, financially sound, and aligned with Sierra Leone’s broader development goals—including universal energy access, climate adaptation, and green growth.
In addition to the Bumbuna 1 project, Hon. Dr. Yumkella also held strategic discussions on the broader OFID–Sierra Leone Country Strategy Programme, a multi-sectoral framework valued at USD 260 million. The programme outlines a long-term partnership between OFID and the Government of Sierra Leone, with a focus on infrastructure development, energy access, agriculture, and resilience-building. The signing of the agreement is anticipated in the coming weeks and will be officiated by Minister Bangura, who was unavoidably absent from the Vienna meetings due to other pressing engagements at the national level.
Speaking at the conclusion of the meetings, Hon. Dr. Yumkella expressed appreciation for OFID and IRENA’s continued partnership and reiterated the Government of Sierra Leone’s unwavering commitment to delivering sustainable energy for all. “This marks a turning point in our journey toward energy independence and climate justice. With strong partners by our side, we are confident that Bumbuna 1 will serve as a symbol of what’s possible when national ambition meets global solidarity,” he stated.
These developments underscore Sierra Leone’s proactive approach to climate-aligned development and reflect the growing confidence of international partners in the country’s governance, strategic planning, and results-oriented leadership in the energy sector.
