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Wednesday, April 24, 2024

Liberia Seeks $550 Million to Build New Hydro Power Station

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By Festus Poquie

Liberia aims to triple the capacity of its national grid to nearly 300 megawatt beyond the existing 88MW as it accelerates plans for a new hydro power station.

The authorities have agreed a $96 million financing agreement for an additional two more units at Mt Coffee and a solar
plant, Finance and Development Planning Minister Samuel Tweah said recently in Monrovia.

“This financing will result in an additional 62 MW of power being added to the existing 88 MW at Mt Coffee.

“Preparations have already started to mobilize an additional $550 million for the development of St Paul 2 Hydro power
station that will add another 148 MW to Liberia’s national grid.”

In February, Liberia was amongst four West African countries that signed the World Bank’s multimillion-dollar renewable
energy project to reduce greenhouse gas emissions and increase electricity access to millions of consumers.

Authorities from the benefiting countries Chad, Liberia, Sierra Leone, and Togo approved the financial agreement for the
Bank’s $311 million Regional Emergency Solar Power Intervention Project Wednesday in Freetown.

West Africa has one of the lowest electrification rates, with 220 million people living without access, coupled with some
of the highest electricity costs in Sub-Saharan Africa. Access to electricity (% of population) in Liberia is estimated at
27.53. Post war efforts to revive the hydropower plant is still wanting as the country continue to suffer power deficit.

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