The funds will be used to construct an ethanol refinery and a biomass fuelled power plant.
The power plant will supply renewable electricity for the ethanol refinery and will also provide 20% of power to Sierra Leone’s national grid.
Construction of the ethanol refinery and power plant will begin later this year, with production expected to commence in 2013.
The project is expected to comply with stringent social and environmental standards.
Under the agreement, a total of EUR133m ($189.8m) debt financing will be secured from the African Development Bank, the Emerging Africa Infrastructure Fund , the Netherlands Development Finance Company, the German Development Finance Institution , the South African Industrial Development Corporation, the Belgian Development Bank, together with Cordiant managed ICF Debt Pool.
Addax Bioenergy is a subsidiary of the Swiss-based energy group, The Addax and Oryx Group (AOG).
The Swedish Development Fund and FMO will join AOG as equity partners.
