Addax Bioenergy raises $366M for Sierra Leone cane ethanol project

In Switzerland, Addax Bioenergy stated they have signed a loan agreement estimated at $366 million with seven European and African development institutions for an integrated renewable energy and agriculture project near Makeni, in Sierra Leone.

The project includes a sugarcane plantation, an ethanol refinery and a biomass fuelled power plant that will supply both the refinery and supply approximately 20% of Sierra Leone’s national grid.  Construction will begin later this year, with production becoming operational in 2013.