Africa > West Africa > Liberia > Liberia: 10 Megawatt Solar Photovoltaic Power Plant for Monrovia

Liberia: Liberia: 10 Megawatt Solar Photovoltaic Power Plant for Monrovia

2016/09/27

The Liberian government and project developer, Gigawatt World Cooperatief U.A., have signed a Memorandum of Considerate (MoU) for the financing and construction of a 10 megawatt solar photovoltaic power plant in Monrovia.

According to a dispatch from New York, Foreign Affairs Minister Marjon Kamara signed on behalf of the Liberian government, while the New Projects Coordinator, Mr. Remy Reinstein, signed on behalf of Gigawatt. The signing took place at the Permanent Mission of Liberia to the United Nations in New York last Friday.

In her remarks, Foreign Minister Kamara said the Liberian government is excited to be entering into this venture.

She indicated that energy is one of government's top priorities and conveyed the government's desire to bring electricity to as a lot of areas inclunding the rural communities of the country before the end of this government.

Minister Kamara expressed satisfaction that the company has an element of corporate social responsibility attached to the project. "It's almost a must presently that at the same time as you enter these kinds of contracts the company or enterprise does something for the community in which it operates. I'm very pleased that your business philosophy enables you to address other needs in your operational areas," she said.

The Foreign Affairs Minister stressed that the signing of the MoU was as well a groundbreaking event as Liberia is on the trajectory of strengthening relations with the National of Israel.

Mr. Reinstein indicated that besides the 10 megawatts to be built in Monrovia initially, his company would like to install 30 additional megawatts in other parts of the country where government deems fit. He assured that his company will abide by its corporate social responsibility.

The MoU, in part, states that Gigawatt will provide the government, through the Liberia Electricity Company (LEC), the roadmap, which summarizes the major actions and steps necessary for the development and construction of a solar photovoltaic power plant. It will as well conduct at its own expense a technical and financial feasibility, inclunding the analysis of financial cash flows and tariff structures and the average rate over all observation period of deficit repayment and return on equity; provide all reports to the LEC within a period of eight months from the signing of this MoU; inclunding provide 100 % financing, both deficit and equity as allowed under Liberian law.

The Liberian government, for its part, is to analyze reports and studies submitted by the developer for approval for the development and construction of the solar power plant within 30 days of developer's submission. GOL will as well provide data upon request of the developer on the national electric grid, utility technical or financial data as requested in favor of the feasibility studies.

Government will assist in securing optimal land sites for the power facility; consider the project as part of the National Electrification Plan; and assist in facilitating an introduction between the project developer and the leading universities in closest proximity of the project site. The objective is to develop a corporate social responsibility program, knowledge transfer and training for rural solar electrification.

Gigawatt World Cooperatief U.A. is a multinational - American, Dutch and Israeli - renewable energy company focused on the development and management of utility-scale solar fields in emerging markets. The company has a rich pipeline of solar electricity projects, mostly in Africa.

It delivered the initial utility-scale solar electricity interconnection under the White Home Power Africa program in Rwanda supplying six % of its electricity needs. Completely recently, the company signed a 135 megawatt project in northern Nigeria, which will be the major solar field in Africa. They opened their initial field in Georgia, USA, in June 2016.

Gigawatt was as well honored by the US National Department as a finalist for the Secretary of National's ACE awards in Corporate Excellence and Sustainability.

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