VANCOUVER, BC / March 29, 2023 / In a significant development, Infinitum Energy Pte. Ltd. (“Infinitum“, “iEg“, or the “Company“) made a compelling presentation on March 28, 2023 to the Sierra Leone Parliamentary Standing Committee on Planning and Economic Development, held at the House of Parliament in Freetown. The meeting marked a pivotal moment for iEg’s plans to provide a substantial 30 megawatts of electricity for Sierra Leone’s Western Area by harnessing the power of waste-to-energy (the “Project”), resulting in preliminary Parliamentary approval of the project.
The Project represents the single largest impact project on the continent and is a landmark for Sierra Leone.
Project Highlights:
- 30MW of clean, renewable, 24/7 baseload power
- 1,200+ 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
- $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
Led by iEg CEO, Lindsay Nagle, the presentation showcased the innovative Project’s operation while drawing parallels with successful projects executed worldwide, including those in Europe and North America. Dr. Yassin Kargbo, Country Director for the Company’s Sierra Leone operation, further elaborated on the Project’s extensive benefits. Notably, the provision of 30 megawatts of desperately needed electricity constitutes a remarkable $189 million investment, with 2% of the Project capital expenditures (equivalent to approximately $3 million) dedicated to community development through corporate social responsibility initiatives.
One standout aspect of the Project is the commitment to helping clean up the existing dumpsites in Freetown and the potential to eliminate improper waste disposal in the city. This not only promises cleaner urban environments but also aims to generate new employment opportunities, reduce poverty and foster youth entrepreneurship. iEg has been actively engaged in Sierra Leone for over two years, diligently working with government and local authorities to advocate for the adoption of this groundbreaking proposal.
The presentation received widespread support from Members of Parliament, who expressed enthusiasm for the Project’s potential positive impact on the nation. As West Africa’s first privately developed waste-to-energy Project progresses, the Company is poised to be a significant player in driving sustainable development in the region.
About Infinitum Energy Pte. Ltd.
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 five development-stage projects are located across Sierra Leone, Uganda, Turkey, Mongolia, and Sri Lanka, 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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