Sunon Asogli, an Independent Power Producer is set to enter the Liberia power industry.
This follows a visit by Togbe Afede XIV, the Agbogbomefia of the Asogli State, co-founder and a Director of Sunon Asogli Power (Gh) Ltd and a 4-member investment and technical team to Monrovia, the Liberian capital, to negotiate a deal in the power generation sector in the West African country.
Explaining his offering to the government of Liberia, he said the first of the three-pronged offering seeks to acquire an interest in the existing 88 megwatts Mt Coffee Hydro Power Plant in Liberia.
Secondly, the investment is to expand the existing Mt Coffee Hydro Power Plant by 60-80MW in a ‘BOO or BOOT’ mode in the medium term.
The third offering, according to him, in the long term is to develop a new hydro power plant on the St. Paul River to add to the generation capacity of Liberia.
Touching on the expected benefits of the investment to the country, he revealed that the acquired interest in the existing Mt. Coffee Hydro Power Plant is to provide capital that will help government fix the challenged power distribution sector of the electricity supply value chain.
Meanwhile, Togbe Afede XIV disclosed that the deal will enable Liberia to become self-sufficient in energy and become a net exporter of power by taking advantage of the West Africa Power Pool transmission line that connect Cote d Ivoire, Sierra Leone, Liberia and Guinea.
Explaining how the investment will inure to the benefit of the consumers of power in Liberia, Togbe Afede predicted that eventually, electricity tariff in the country will become very competitive and trigger industrialization in the country.
Other members of the delegation were Elikplim Kwabla Apetorgbor, Rocky Agyeman Prempeh and Li Julong.
Source: Joy Business
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