The United Arab Emirates-based AMEA Power, an energy producing giant, is exploring investment opportunities in Sierra Leone, a top official disclosed on Tuesday.Hussain J. AI Nowais, Chairman of the company whose interest is focused in Africa, Middle-East and Asia, is currently heading a delegation on a visit to Sierra Leone. According to a release from the
presidency, Mr AI Nowais met with President Julius Maada Bio at State House on Tuesday where he officially expressed his interest in investing in the country.
“We are looking at Sierra Leone as a place for investment and I am here to explore the investment opportunities in the energy sector. We realized Sierra Leone has the potential and the need for growing its economy by investing in energy,” he was quoted telling the President.
He added: “The project will benefit Sierra Leone by generating power and expanding its base, helping to grow the economy and will also provide comfort to Sierra Leoneans.” AMEA Power develops, owns, and operates thermal and renewable power projects in Africa, the Middle East and Asia.
The company says it offers a wide range of power solutions that meet the needs of the emerging markets they cater to, including conventional (Gas, Coal and Oil) and Renewable (Solar PV and CSP, Wind, Hydro and Hybrid) power plants.
Sierra Leone has been struggling to stabilize its shaky power sector. The last few years have witnessed tremendous progress, but still experts say the country has a very long way to go. World Bank figures show that only about 15 percent of the seven million population of the West African country has access to power.
The issue is not just been about generation; it has also been about the distribution infrastructure.
The government also wants to incorporate renewable energy into the country’s overall energy plan. And AINowais is said to be one of the biggest players in the renewable energy sector in the UAE.
Chairman AI Nowais said the visit to Sierra Leone is part of their goal of expanding in Africa, having already undertaken a lot of investments in the Middle East.