Monrovia, Liberia – The African Development Bank, World Bank, and other international financial partners are now holding the World Bank Group and African Development Bank Group Africa Energy Summit in Dar es Salaam, Tanzania, where Liberia has formally submitted its “National Energy Compact” for financing consideration.
The Liberian delegation, which included Deputy Finance Minister for Economic Management Dehpue Zuo, Minister of Mines and Energy Wilmot Paye, Acting Managing Director Thomas Gonkerwon of the Liberia Electricity Corporation, Executive Director Samuel Nagbe of Liberia Rural Renewable Energy, and Minister of Finance and Development Planning Augustine Kpehe Ngafuan, presented the proposal on Monday afternoon.
Liberia is one of 14 African nations that have been invited to submit compact ideas. In an interview with Dar es Salaam’s State Radio ELBC, Minister Ngafuan emphasized the World Bank Group’s collaboration with the African Development Bank on Mission 300, a bold plan to provide power to 300 million people in Sub-Saharan Africa by 2030.
“The mission aims to promote cleaner energy sources, accelerate electrification, and promote economic growth, job creation, and sector reform throughout the region,” Minister Ngafuan said.
According to Minister Ngafuan, Liberia’s compact proposal includes measures to expand renewable energy, upgrade energy infrastructure, and expand access to power. Key initiatives include increasing the share of renewable energy, expanding transmission and distribution networks, and increasing the utilization of the CLSG regional electricity network.
According to Minister Ngafuan, the plan also aims to increase private sector involvement, improve utilities’ financial viability, and raise private funding for clean cooking and Distributed Renewable Energy (DRE) solutions.
According to him, the Compact aims to increase the percentage of the population having access to electricity from 32.7% to 75% by 2030 by giving power to 100,000 families yearly, up from the current 70,000. It also intends to increase Liberia’s contribution of renewable energy to 75% by developing water resources, building a 20 MW solar PV facility on Mount Coffee, and installing 70 MW of solar PV and Battery Energy Storage Systems (BESS) under a separate power purchase mechanism.
According to Minister Ngafuan, the Liberia Energy Compact is a collection of pledges made by the government of Liberia, donors, and partners on how to increase the country’s energy supply over the next five years.
At the January 28 conference, President Joseph Nyumah Boakai is anticipated to sign a statement with other African heads of state pledging to support regional integration, embrace DRE and clean cooking solutions, and renovate and develop energy infrastructure.
