The state of Isreal and the Economic Community Of West African States (ECOWAS) is set to sign a memorandum of understanding (MoU) to establish a $1 billion solar project in the region over the next four years to advance green energy power projects across the 15 member states of the West African Economic Community.
The project which will be executed by Israel’s leading solar developer, Energiya Global and their international partners, will finance and build a commercial-scale solar field at the Roberts International Airport, which will supply 25% of Liberia’s generation capacity.
The Israeli Prime Minister Binyamin Netanyahu is scheduled today to address the 15 West African heads of state of ECOWAS, as well as the head of the African Union and will outline the technological innovations in agriculture, water, green energy and more that can support economic development in West Africa.
While speaking to international correspondents about the project, the CEO of Energiya Global, Yosef I. Abramowitz said “We are prepared to finance and build the first National Demonstration Solar Projects in all ECOWAS-affiliated countries in order to promote political stability and social and economic development, as well as to advance knowledge transfer”.
Energiya Global and its associated companies developed the first commercial scale solar field in sub-Sahara Africa in Rwanda, which is supplying 6% of the country’s power, and the group broke ground on a similar power plant in Burundi, which will supply 15% of the country’s power by the end of the year. The solar group has fields at various stages of development in ten African countries and expects to announce its full program at the Israel-Africa Summit in Togo at the end of October.
The chairman of the Israel-Africa Caucus of the Israeli Parliament who is also a member of Knesset Avraham Neguise pointed that, “With 600 million Africans without electricity, the State of Israel can literally help African heads of state bring power to the African people. Our humanitarian and diplomatic goals are supported by the private sector as well, which can work quickly and efficiently to improve the lives of millions of people”.
A working session between ECOWAS, representatives of the State of Israel and Abramowitz will take place Monday morning in Monrovia, to plan for the deployment of the green energy investments in fulfillment of the MOU signed by Prime Minister Netanyahu and the President of ECOWAS.
The $1 billion investment in ECOWAS will proceed first by the investment of $20 million in Liberia by Energiya Globa which comes as Israel and ECOWAS sign an historic Memorandum of Understanding on Sunday to promote investments, technology and cooperation.