Scatec ASA, a Norwegian renewable energy company, has secured a 23.75 MWp solar leasing agreement in Liberia. This deal is part of a larger 64 MW initiative across West Africa and represents the company’s first major solar leasing contract in the region, highlighting its strategic expansion.
Scatec ASA Expands Liberia solar leasing Initiatives
This project marks Scatec’s significant entry into the West African solar leasing market. It follows previous successful leasing projects on the continent, including in South Africa, Chad, and Cameroon, where Scatec expanded its solar capacity to 64.4 MW. The Liberian agreement is one of two new contracts, complemented by a 40 MWp facility in neighboring Sierra Leone.
To execute these projects, the company will utilize its Release platform, a flexible and cost-effective solar power solution designed for rapid deployment. Scatec’s Release platform provides pre-assembled solar and battery equipment, simplifying on-site work and aligning with the basics of solar panel manufacturing principles for modularity. This equipment is available under either leasing or power purchase agreements (PPAs), making it a scalable solution for diverse energy needs.
โWeโre delighted to expand our solar leasing offering in West Africa by supporting Liberia in its goal to enhance energy access across the country,โ said Hans Olav Kvalvaag, Scatec’s senior vice president of release in a statement.
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Scatec’s Solar Leasing Deal
The agreement involves the lease of 23.75 MWp of solar capacity for the Liberia Electricity Corporation (LEC). The power generated will be fed into the national grid, substantially improving the country’s energy supply and grid stability. This initiative also includes the deployment of battery energy storage systems, with a combined 10 MWh of storage capacity planned across the projects in Liberia and Sierra Leone. The lease term is set for five years, with an option to extend for an additional five years.
The project will be executed in two phases:
1. The first phase involves installing a 3 MWp solar plant at LEC’s Mount Coffee substation.
2. The second phase will see the installation of a 20.75 MWp solar plant at the Alfa power station in Monrovia, the capital city.
The solar plants are expected to be commissioned by the first quarter of 2025, which will significantly boost Liberia’s renewable energy capacity.
Enhanced Energy Access in Liberia
The Ministry of Mines and Energy emphasized that this project is a significant step towards achieving the country’s energy goals. According to a recent Liberia solar panel manufacturing report, the country aims to achieve 60 MW of on-grid solar capacity by 2030 as part of the ECOWAS Regional Renewable Energy Policy. Scatecโs project alone will deliver nearly 40% of this target.
This development adds to other key renewable energy initiatives in the country, including the ongoing construction of a 20 MW first utility-scale solar plant. While the International Renewable Energy Agency (IRENA) reported an installed solar capacity of about 6 MW at the end of 2023, Scatec’s entry will quintuple this figure, marking a transformative moment for the nation’s energy sector. The project will not only increase installed capacity but also enhance the reliability and sustainability of the national grid, fostering economic growth and development.
Scatec’s Commitment to Renewable Energy
Scatec ASA is a leading renewable energy company with a strong focus on solar, wind, and hydropower projects across Africa, Southeast Asia, and South America. The company continues to advance major projects on the continent, as seen with the 120MW Mmadinare Solar Complex in Botswana.
Scatec’s Release platform is a game-changer for the renewable energy sector. By offering pre-assembled solar and battery equipment, the company can quickly deploy energy solutions to meet the urgent needs of its clients. This flexibility is particularly valuable in regions with developing energy infrastructure, such as West Africa.
The partnership with the Liberia Electricity Corporation demonstrates Scatec’s commitment to expanding its renewable energy portfolio in Africa and is expected to serve as a model for future solar leasing agreements in the region. As Scatec grows, it remains dedicated to providing innovative solutions that address the energy needs of developing countries through a focus on sustainability and environmental responsibility.
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