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Liberia receives $96m World Bank Loan for Solar Power Plant

On Feb 10, 2023

Liberia has signed a finance deal worth $96 million with the International Development Association (IDA), a subsidiary of the World Bank to build 60 MWp of solar power.

The solar facility, to be situated at Mount Coffee, would be developed in two phases, Monie Captan, chairman of the board (PCA) of the government-owned Liberia Electricity Corporation (LEC) said.

He added that a second phase with a capacity of 40 MWp will come after the first phase adding that the hydropower facility at Mount Coffee will be replaced by the solar park.

The World Bank recently unveiled a $311 million financing package for renewable energy in West Africa and the Chad, which includes the loan to Liberia.

The Regional Emergency Solar Power Intervention Project is in charge of allocating the funds (RESPIT).

This World Bank initiative seeks to “rapidly” raise the capacity of renewable energy that is connected to the grid and to improve regional integration in the participating nations.

The development of solar photovoltaic plants, battery storage systems, and grid connections are the four parts of the project.

The Electricity Hub/ Hauwa Abu