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Financing has been secured for constructing a solar PV plant and expanding the Mount Coffee Hydropower Plant in Liberia,
This week, the World Bank announced that it had approved a second disbursement of $45 million for Liberias Renewable Energy Solar Power Intervention Project (RESPITE).
The hydropower plant will increase its capacity from 88MW to 129MW.
The total budget for the project stands at $96 million.
The Mount Coffee Hydropower Plant is fuelled by the St. Paul River.
It was decimated during Liberias civil war.
Originally constructed in the 1960s, the Mount Coffee hydro facility was rebuilt in the early 2000s by the government in conjunction with the US Governments Millennium Challenge Corporation.
This week, on the sidelines of the 25th edition of the Africa Energy Forum in Barcelona, Liberias Vice President Jeremiah Koung, met with Ashish Khanna, Practice Manager for West and Central Africa at the World Bank.
Khanna said Liberia has made "tremendous progress in the energy sector and remains the only country in sub-Saharan Africa that has reduced distribution losses by 30%, with over half a million new connections to households."
He said Liberias recent achievements in the energy sector position the country favourably to attract private sector investments.
Koung called for immediate interventions to mitigate electricity outages as the dry season approaches. |
