-Minister Ngafuan
Finance and Development Planning Minister, Augustine K. Ngafuan, has disclosed that US$50 million from ArcelorMittal’s signature bonus was allocated to Liberia’s energy sector to boost power infrastructure.
Speaking during the weekend at the dedication of the new 20MW solar power project, Minister Ngafuan said the investment reflects government’s commitment to expanding reliable electricity access nationwide.
The project is expected to add significant capacity to the national grid and reduce dependence on expensive thermal power.
“The US$50 million from ArcelorMittal’s signature bonus was given to the energy sector,” Minister Ngafuan stated during the event.
He credited the allocation made in coordination with the Ministry of Finance and Development Planning and the Ministry of Mines and Energy, as key to financing major power interventions under the current administration.
The 20mw solar project, Liberia’s first utility-scale, grid-connected solar photovoltaic plant, 20 megawatt facility under the RESPITE project, was officially commissioned by President Joseph Boakai.
The dedication event came less than two years after the Liberian leader broke ground for the project in October 2024, demonstrating steady progress in the Government’s efforts to strengthen the Country’s energy infrastructure. the project includes the newly constructed 20-megawatt solar photovoltaic facility and supports plans for the expansion of the Mount Coffee Hydropower Plant by 42 megawatts.
Speaking at the dedication ceremony, President Boakai described the solar facility as a major addition to Liberia’s energy infrastructure and a significant step toward increasing access to reliable and affordable electricity across the country.
The President noted that the project supports his Administration’s efforts to expand infrastructure, stimulate economic activity, create jobs, and improve the quality of life for Liberians.
He explained that inadequate and expensive electricity has long hindered economic growth, discouraged investment, and limited the delivery of essential services. He emphasized that reliable electricity is vital for hospitals, schools, businesses, agriculture, mining, manufacturing, and other productive sectors of the economy.
President Boakai also announced that his Administration secured an additional US$57 million in World Bank financing in March 2026 to further strengthen Liberia’s energy sector.
The funding will support the expansion of solar generation capacity from 20 to 30 megawatts, the installation of a 12-megawatt battery energy storage system, and additional upgrades at the Mount Coffee facility.
The President disclosed that 22 megawatts of lost generation capacity at Mount Coffee have already been restored and revealed plans to further expand the hydropower facility by an additional 42 megawatts..
The project is part of the Regional Emergency Solar Power Intervention (RESPITE), an initiative launched in April 2022 by the World Bank and the Governments of Liberia and Sierra Leone to address electricity shortages and accelerate renewable energy development across West Africa.
