Foreign Minister Marjon Kamara
GoL, Gigawatt Global Sign MoU For 10 MW Solar Plant
MONROVIA, September 26 (LINA) -The Liberian Government and project developer, Gigawatt Global Cooperatief U.A., have signed a Memorandum of Understanding to finance and construct a 10 megawatt solar photovoltaic power plant in Monrovia.
According to a dispatch from New York, Foreign Minister Marjon Kamara signed on behalf of the Liberian Government, while the New Projects Coordinator, Mr. Remy Reinstein signed on behalf of Gigawatt Global Cooperatief U.A. at a brief ceremony held at Liberia’s Permanent Mission to the U.N. in New York on Friday, September 23.
Speaking during the occasion, Minister Kamara said the Liberian Government is excited to be entering into this venture, indicating that energy is one of government’s top priorities and spoke of the Government’s desire to bring electricity to as many areas, including the rural communities of the country, before the end of this administration.
The Foreign Minister stressed that the signing of the MoU was also a groundbreaking event as Liberia is on the trajectory of strengthening relations with the State of Israel.
In remarks, 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 corporate social responsibility.
The MoU, in part, states that Gigawatt Global Cooperatief U.A. will provide the Government, through the Liberia Electricity Company (LEC), the road map, which summarizes the main actions and steps necessary to develop and construct a solar photovoltaic.
It will conduct at its own expense a technical and financial feasibility, including the analysis of financial cash flows and tariff structures and the average rate over the entire observation period of debt repayment and return on equity.
Gigawatt Global will also provide all reports to the LEC within a period of eight months from the signing of the MoU as well as provide 100 percent financing, both debt 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 solar power within 30 days of developer’s submission.
Government will provide data upon request of the developer on the national electric grid, utility technical or financial information as requested in favor of the feasibility studies and assist in securing optimal land sites for the power facility.
The government will also 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 for the purpose of developing a corporate social responsibility program, knowledge transfer and training for rural solar electrification.
Gigawatt Global 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 first utility-scale solar electricity interconnection under the White House Power Africa program in Rwanda, supplying six percent of its electricity needs.
Recently, the company signed a 135 megawatt project in northern Nigeria which will be the largest solar field in Africa.
It opened their first field in the U.S. in Georgia in June 2016.