Togbe Afede XIV, the Agbogbomefia of the Asogli State and Co-Founder and Director of Sunon Asogli Power Ghana Limited have led a four-member investment and technical team to Monrovia, Liberia, to negotiate a deal in the power generation sector of the country.
Explaining what Sunon Asogli can offer to the Government of Liberia, Togbe Afede said the first of the three-pronged offering seeks to acquire an interest in the existing 88MW Mt Coffee Hydro Power Plant in Liberia.
In an interview with the Ghana News Agency, he said, Sunon Asogli would invest to expand the existing Mt Coffee Hydro Power Plant by 60-80MW in a BOO or BOOT mode in the medium term.
According to him, his outfit would in the long term 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 in the country, Togbe Afede revealed that the acquired interest in the existing Mt. Coffee Hydro Power Plant was to provide capital that would help the government fix the challenging power distribution sector of the electricity supply value chain.
He disclosed that the deal would enable Liberia to become self-sufficient in energy and become a net exporter of power by taking advantage of the West Africa Power Pool transmission line that connected Cote d Ivoire, Sierra Leone, Liberia and Guinea.
The Sunon Asogli Co-Founder explained that the investment would inure to the benefit of the consumers of power in Liberia, and predicted that eventually, electricity tariff in the country would become competitive and trigger industrialization in the country.
The Sunon Asogli delegation included; Mr Elikplim Kwabla Apetorgbor, Mr Rocky Agyeman Prempeh and Mr Li Julong.