Deputy Minister of Energy Highlights Investment Opportunities to IFC Representative
Ministry of Energy, Freetown, Tuesday, July 23, 2024 — Deputy Minister of Energy I, Dr. Eldred Taylor, met with Nuzhat Anwar, the International Finance Corporation (IFC) Resident Representative for Liberia and Sierra Leone, to discuss the abundant investment opportunities in Sierra Leone’s energy sector that require financial intervention from international institutions like the IFC.
Nuzhat Anwar explained that her visit aimed to gain firsthand information about the state of the energy sector and explore opportunities for private sector interventions. She expressed satisfaction with the progress Sierra Leone is making in the sector and reaffirmed the IFC’s commitment to supporting the country in energy, manufacturing, financial inclusion, and agriculture. Anwar noted that the IFC currently has four to five projects underway in Sierra Leone.
Dr. Taylor praised the strong partnership between the IFC and the Ministry of Energy, outlining the transformative strides occurring within the sector. He emphasized the government’s focus on renewable energy, particularly highlighting the SCATEC Project, for which he had recently signed a letter of intent and briefed President Julius Maada Bio.
Taylor also pointed to the Bikongor hydropower project as a significant opportunity for IFC intervention, describing it as one of the largest hydropower projects the government aims to implement. He discussed the preparatory feasibility studies and legislative frameworks already in place and expressed optimism about securing IFC support for the project.
Ing. Benjamin Kamara, Chief Director of Energy at the Ministry, provided an overview of ongoing energy projects, including a feasibility study for a project at Songo. He noted that the department of rural energy is working diligently to ensure the successful realization of these projects.
As reforms in the energy sector continue to unfold, they remain closely linked with the Feed Salone agenda, promising significant advancements for Sierra Leone’s energy landscape.
