Sierra Rutile Limited has agreed to acquire power produced from Smol Pawa Sierra Leone Ltd's planned Moyamba hydro project.
The run-of-river hydro scheme, with a proposed capacity of 11-14MW, is located at the Singimi Falls on the Gbangba River, within 20km of Sierra Rutile's existing operations. The project will be developed as a public-private partnership with the Government of Sierra Leone and will serve the communities of Moyamba, Njala University and Sierra Rutile.
A feasibility study is currently being completed for the project, and financing, permitting and construction is expected to be completed within 36-48 months.
“We are very pleased to partner with Smol Pawa on this project," commented Sierra Rutile's CEO John Sisay. "As we continue to focus on reducing costs, the opportunity to purchase reliable, low-cost power will significantly reduce Sierra Rutile's cost exposure to potential oil price fluctuations. Power supplied from the hydropower facility will also reduce Sierra Rutile's operating risk by diversifying our power sources."
