Liberia gets funding for a 50-megawatt power plant for Monrovia

The US based Overseas Private Investment Corporation (OPIC) has approved a US$112 million loan to Buchanan Renewables Energy for the construction of a 50 megawatt steam-powered electricity plant for the supply of power to Monrovia. Liberia's President Ellen Johnson Sirleaf, who attended the meeting in which the loan was approved, welcomed the announcement and reiterated the need for the speedy implementation of the project. The power plant will be fuelled with wood chips from Liberian rubber trees that are no longer productive. The electricity provided from the renewable sources will be sold at much cheaper rate than current electricity rates, and will be transmitted to the Liberia Electricity Corporation’s grid by the end of 2010. For full article click here. Olly