A financing agreement worth US$ 96M has been signed for the development of Liberia’s first-ever utility-scale solar plant in Mount Coffee. The agreement was signed between the International Development Association (IDA) and the Liberian Ministry of Finance and Development Planning.
The 60 MWp solar power plant will be built in two phases. This is according to Monie Captan, chairman of the board (PCA) of the state-owned Liberia Electricity Corporation (LEC). The first phase of the project will have a capacity of 20 MWp. The second phase on the other hand will have a capacity of 40 MWp.
Captain said that upon completion, the 60 MWp Mount Coffee solar power plant will take over from Mount Coffee hydroelectric plant. The latter has a capacity of about 90MW. However, its output tends to drop simultaneously with the flow of the St. Paul River during the dry season.
Mount Coffee solar power plant; a part of the Regional Emergency Solar Power Intervention Project (RESPIT)
The loan in question will be provided as part of a $311 million financing package announced by the World Bank for renewable energy in West Africa and Chad. The entire funding is allocated under the Regional Emergency Solar Power Intervention Project (RESPIT).
RESPIT aims to increase grid-connected renewable energy capacity and strengthen regional connections, especially in participating countries. The project has four components. The first component will include the construction of solar photovoltaic plants, battery storage systems, and grid connections.
The World Bank will finance all the associated costs. These will be from the design, supply, and installation as well as operation and maintenance (O&M) of the solar plants for one to four years. In addition to Liberia, RESPIT is being implemented in Sierra Leone, Chad, and Togo.
