Eversheds has won the Clean Energy Project of the Year 2013–14 award for its role in advising on Sierra Leone’s first independent power project.
Eversheds advised The Addax and Oryx Group on its €133m (£108m) project finance loan facilities for the construction of an integrated renewable energy and agriculture project near Makeni, Sierra Leone.
The investment includes the development of a greenfield sugarcane plantation, the construction of an ethanol refinery and a biomass-fuelled power plant. The power plant will provide renewable electricity for the ethanol refinery and will supply approximately 20 per cent of Sierra Leone’s national grid.
The sugarcane ethanol project represents a major step forward in Sierra Leone’s efforts to become a hub for renewable energy alternatives and a model for sustainable investment in Africa. The project has been the first in Africa to achieve certification by the Roundtable on Sustainable Biofuels.
The African Utility Week Awards took place in Cape Town on 13–14 May 2014.
The Eversheds team was led by partner Howard Barrie.