Camana Bay, Cayman Islands, May 3, 2024. Infinitum Energy (“Infinitum“ or the “Company“) is pleased to announce the Company received approval from the Sierra Leone Ministry of Energy on April 30, 2024 for Infinitum’s landmark 30MW Waste-to-Energy Project in Freetown, Sierra Leone (the “Project”).
Infinitum believes the Project represents the largest impact of any single project on the continent of Africa and will be revolutionary for Sierra Leone.
Project Highlights:
- 30MW of clean, renewable, 24/7 baseload power
- 1,500+ local jobs created during operation
- 400+ jobs created during construction
- $150,000,000 project CapEx
- $61,000,000 in taxes paid locally to Sierra Leone
- $6,000,000 paid for waste collection yearly to local operators
- $3,000,000 for local community initiatives
- 400,000 tons of CO2 diverted from the atmosphere
- 1,000 tonnes of waste diverted from streams, rivers, the ocean and dumpsites daily
With this Ministry of Energy approval, Infinitum and the Government of Sierra Leone will begin the process of entering into binding agreements for the project. These include, but not limited to the Power Purchase Agreement, Implementation Agreement, Connection Agreement and Waste Administration Agreement.
Lindsay Nagle, Infinitum’s CEO, commented: “We are elated to have finally reached this pivotal moment for such a transformative project. We truly believe this Project will change the lives of countless Sierra Leoneans, by helping to bring energy independence, creating much needed employment opportunities and allowing the country to prosper. We want to thank our Country Director, Mr. Yassin Kargbo and his team for their unwavering dedication to the project and the vision it represents.”
About Infinitum Energy
Infinitum is a climate infrastructure company specializing in the development of clean energy projects within emerging markets. The Company’s core focuses are high-impact solar, wind, and innovative waste-to-energy projects. Through strategic partnerships with leading financial institutions, the team has executed on 42 clean energy projects spanning 13 countries to date, with investments amounting to over $12 billion. Infinitum’s current development stage projects are located in Sierra Leone and Sri Lanka; with teams actively developing additional projects in Mongolia, Uganda, and Turkey; totalling more than $2.5 billion of expected capital expenditures.
For further information on the Company, please visit https://www.infinitumenergygroup.com
ON BEHALF OF THE BOARD
“Lindsay Nagle”
Director & CEO
For more information contact:
Jeremy Wright, Director & CFO
+1 (604) 837-7990
[email protected]
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