Liberia’s Minister of Finance and Development Planning (MFDP), Samuel Tweah has reaffirmed the government’s financial commitment to the sustainability of TRANSCO CLSG, a transmission company that is responsible to deliver stable and affordable electricity to Liberia.
Minister Tweah made the commitment when he graced the official signing of the Transmission Service Agreement (TSA) with the Liberia Electricity Corporation (LEC) on Wednesday, October 26, 2022 at TRANSCO CLSG headquarters in Abidjan.
Minister Tweah commended the efforts of TRANSCO CLSG, the Cote d’Ivoire government, and the project funders for the project’s successful signing. “We are committed to maintaining the sustainability of the CLSG project,” Minister Tweah declared.
Minister Tweah asserted that the government of President George Weah is committed to making the LEC viable as compare to the CI Energies of La Cote d’Ivoire. He added that when President Weah took office in 2018, the CLSG project was at 18percent physical project implementation rate.
Liberia’s fiscal manager furthered that the government of Liberia has maintained significant support towards the CLSG project and that President Weah is eager to ensure Liberians receive stable and affordable electricity, especially during this dry season.
The Government of Liberia has supported the landmark CLSG project implementation from the inception of the physical implementation in 2018 to about 97% now, the finance minister disclosed, adding that the CLSG project is a practical realization of regional integration in the real sense of work. “What we now have is a framework to market energy,” Minister Tweah said following the signing of the TSA between Liberia and TRANSCO CLSG.
He thanked the donors including the World Bank, African Development Bank, European Investment Bank and the German Development Bank and other key stakeholders for their unrelentless role in making the CLSG project a reality.
Under the Weah-led government, and as part of efforts to cover the entire Liberia, the Government, through donor funding added one more substation at Botota in central Liberia. Liberia has substations in Yekepa, Monrovia, Buchanan and Mano, all of which have been energized by TRANSCO CLSG.
In a related development, TRANSCO CLSG General Manager, Mohammed M. Sherif thanked the Liberian government for joining the TRANSCO CLSG train. He said the CLSG framework is a model that is working.
Mr. Sherif described the agreement as a significant step toward developing an energy market that will foster regional growth and strengthen the economies of the CLSG nations, guaranteeing that the people of the four countries have access to reliable and reasonably priced electricity.
“We are thrilled by this landmark achievement in the CLSG project implementation. Today’s signing event means Liberia has sealed the deal to receive the electricity that Liberians have hungered for years. The signing of the PPA and TSA for stable electricity could not come at the right time as Liberia enters the dry season, during which the country is faced with a major energy deficit,” Mr Sherif exerted.
The General Manager further applauded His Excellency President George Manneh Weah, the government, and the people of Liberia for coming on board the TRANSCO train and setting the pace for the people to enjoy 24-hour electricity during this dry season and onward.
“The signing of the PPA and the TSA by Liberia marks the beginning of trading on the CLSG line, and we are proud as Liberia now joins Sierra Leone and Guinea to enjoy 24-hour electricity, a reality of Cote d’Ivoire delivering quality, stable and affordable electricity to the respective CLSG countries. We achieved this historic victory based on cordial relationships and collaborative efforts with every stakeholder involved in the CLSG project,” GM Sherif said.
The General Manager acknowledged the support of the World Bank, African Development Bank, European Investment Bank and German Development Bank, the governments, and other stakeholders for their vision and support given to this CLSG project.
Moni Captan, the chief executive officer of Liberia Electricity Corporation and the signatory on behalf of the Liberian government, expressed his hope that Transco CLSG would increase its transmission capacity by putting in place the second circuit of the transmission line, which is crucial for supplying future energy demands. Mr. Captan assured that LEC has the capacity to fight power theft in the system in order to increase more revenue.
According to Mr. Captan, the signing of the TSA was made possible by the realization of the 225kv CLSG Transmission line that interconnects the electricity networks of La Cote d’Ivoire, Liberia, Sierra Leone, and Guinea. This critical infrastructure paves the way for further integration of the West African Power Pool countries in the formation of a regional energy market.