- The World Bank Group approved a $45 million disbursement for Liberia’s
- With a $96 million budget, RESPITE will fund Liberia’s first 20-megawatt solar PV project.
- Liberia reduced distribution losses by 30% and added over half a million new household connections, attracting potential private-sector investments.
The World Bank Group approved a $45 million disbursement for Liberia’s Renewable Energy Solar Power Intervention Project (RESPITE). This funding, the second phase for RESPITE, aims to boost Liberia’s renewable energy capacity.
With a total budget of $96 million, RESPITE will fund Liberia’s first 20-megawatt solar PV project and expand the Mount Coffee hydropower plant’s capacity from 88 to 129 megawatts. These projects will significantly enhance the country’s energy infrastructure.
In a recent meeting, Vice President Jeremiah Koung discussed the project with Ashish Khanna, Practice Manager for West and Central Africa at the World Bank Group. Khanna praised President Joseph Boakai’s focus on energy as key to economic growth. He noted Liberia’s progress in reducing distribution losses by 30% and adding over half a million new household connections. “These achievements make Liberia attractive for private sector investment,” Khanna stated.
Vice President Koung thanked the World Bank for its ongoing support. He emphasised the urgency of addressing Liberia’s electricity challenges, especially with the dry season approaching. “Your support is crucial for increasing access to electricity,” Koung said. He called for immediate action to mitigate potential outages and reaffirmed Liberia’s commitment to collaborating with the World Bank to improve energy access.
The World Bank’s investment marks a significant step in Liberia’s renewable energy efforts. The new solar project and expanded hydropower capacity will provide a more reliable electricity supply, driving economic development and improving living standards in Liberia.
The 20-megawatt solar project, Liberia’s first large-scale solar installation, aims to diversify the country’s energy sources and reduce dependence on fossil fuels. The expansion of the Mount Coffee hydropower plant will increase its capacity by 41 megawatts, providing additional energy during peak demand periods.
The World Bank’s involvement underscores the international community’s support for Liberia’s renewable energy initiatives. As Liberia improves its energy sector, it positions itself as a leader in renewable energy in sub-Saharan Africa.
The funding aligns with the World Bank’s goals of supporting sustainable development and combating climate change. By investing in renewable energy, the World Bank helps countries like Liberia transition to cleaner energy sources and build more resilient energy systems.
Liberia’s progress in reducing energy losses and expanding access to electricity demonstrates the potential for positive change in the region. The success of projects like RESPITE could serve as a model for other countries developing their renewable energy sectors.