A four-member investment and technical team of Ghana’s independent power producer, Sunon Asogli, led by Togbe Afede XIV, co-Founder and Director, is in Liberia to engage the country and to negotiate a deal in the power generation sector.
Togbe Afede, also the Agbogbomefia of the Asogli State, explains that the first of the three-pronged offering by Sunon Asogli seeks to acquire an interest in the existing 88MW Mt. Coffee Hydro Power Plant in Liberia.
Secondly, his company seeks to invest to expand the existing Mt. Coffee Hydro Power Plant by additional 60-80MW in the medium term to increase its output to about 168MW.
St. Paul River
The third offering, according to Togbe Afede, in the long-term plan will be 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 government and people of Liberia, he said the acquired interest in the existing Mt. Coffee Hydro Power Plant is to provide capital to help the government's resolution of the challenged power distribution sector along the electricity supply value chain.
Togbe Afede XIV disclosed that the deal would enable Liberia to become self-sufficient in energy and a net exporter of power by taking advantage of the West Africa Power Pool transmission line that connects Cote d’Ivoire, Sierra Leone, Liberia and Guinea.
The investment, he said, will not only inure to the benefit of consumers of power in Liberia, but eventually, electricity tariff in the country would become very competitive and trigger industrialization.
Among members of the delegation from Asogli were Elikplim Kwabla Apetorgbor, Rocky Agyeman Prempeh and Li Julong who were received by officials of the country and the Liberia Electricity Regulatory Commission.