Foreign minister, Marjon Kamara, said the Liberian government is excited about entering into this venture, indicating that bringing electricity to as many areas, including the rural communities of the country, was a priority.
The MoU, in part, states that Gigawatt Global will provide a road map, which summarises the main actions and steps necessary to develop and construct a solar photovoltaic facility.
It will conduct at its own expense a technical and financial feasibility, including the analysis of financial cash flows and tariff structures and the average rate over the entire observation period of debt repayment and return on equity.
Gigawatt Global will also provide all reports to the country's electricity utility within a period of eight months from the signing of the MoU as well as provide 100% financing, both debt and equity as allowed under Liberian law.
The project is considered part of the country’s national electrification plan, and the company will incorporate knowledge transfer and training for rural solar electrification as part of its corporate social responsibility plan.
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