ECOWAS and Israel have signed a Memorandum of Understanding (MoU) of one billion dollar investment to advance green energy power projects across 15 ECOWAS member states over the next four years.
The MoU was signed in Liberia by the Israeli Prime Minister Binyamin Netanyahu and ECOWAS President, Marcel de-Souza along with Yosef Abramowitz, CEO Energiya Global, the firm that will execute the project.
“We are prepared to finance and build the first National Demonstration Solar Projects in all ECOWAS-affiliated countries to promote political stability, social and economic development, and to advance knowledge transfer,” Abramowitz stated.
Abramowitz said Energiya Global and its associated companies developed the first commercial scale solar field in Rwanda, which is supplying six per cent of the country’s power.
The group broke ground on a similar power plant in Burundi, which will supply 15 per cent of the country’s power by the end of the year.
Stages of Development
According to Abramowitz, the solar group has fields at various stages of development in 10 African countries and expects to announce its full program at the Israel-Africa Summit in Togo at the end of October.
Chairman of the Israel-Africa Caucus of the Israeli Parliament, Knesset Neguise, said the first investment of 20 million dollars would be executed in Liberia by Energiya Global.
“”We look forward to working with ECOWAS to deploy $1 billion over the next four years, starting with this first investment of $20 million in Liberia by Energiya Global.
“The 20 million dollar investment comes as Israel and ECOWAS sign an historic MoU to promote investments, technology and cooperation.
“With 600 million Africans without electricity, the State of Israel can literally help African heads of state bring power to the African people,” Neguise explained.
Humanitarian and Diplomatic Goals
He said that Israel humanitarian and diplomatic goals were supported by the private sector as well, which could work quickly and efficiently to improve the lives of millions of people.
“A working session between ECOWAS, representatives of the State of Israel and Abramowitz will take place Monday in Monrovia. The session is to plan for the deployment of the green energy investments in fulfillment of the MOU signed by Netanyahu and the President of ECOWAS,” Neguise said.
U.S. Power Africa Coordinator Andrew Herscowitz said as a founding Power Africa partner, Energiya Global continues to demonstrate its industry leadership with this important investment in Liberia.
“Increasing access and power generation is the foundation for economic prosperity and human development. We look forward to Energiya Global’s transformative impact on the lives of the Liberian people,” he added.
NAN/ Confidence Okwuchi