Israel signs MoU with ECOWAS for US$1bn solar investment

4842167368 d9736f160e zEnergiya Global will provide innovations in promoting green energy to support economic development in west African countries. (Image source: World Bank Photo Collection/Flickr)Israel and the Economic Community of West African States (ECOWAS) have signed a memorandum of Understanding (MoU), which will see Energiya Global, Israel’s leading solar developer, invest US$1bn for the next four years to enhance green energy power projects across 15 member states of ECOWAS

In line with the MoU agreement, Energiya Global and its international partners will build a commercial-scale solar field worth US$20mn at the Roberts International Airport in Liberia.

Yosef Abramowitz, CEO of Energiya Global, 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.”

He also added that after completion, the solar field is expected to supply 25 per cent of the Liberia’s power generation capacity.

Energiya Global and its partners developed the first commercial scale solar field in Rwanda, supplies six per cent of the country’s power, and another power plant in Burundi, which is set to supply 15 per cent of the country’s power by the end of 2017.

Currently, Energiya Global runs various solar projects in 10 African countries and expects to announce its full program at the Israel-Africa Summit in Togo on October 2017.

ECOWAS, along with the representatives of the State of Israel and Abramowitz, held a working session in Monrovia, to plan for the deployment of the green energy investments as per the MoU agreement.

“As a founding Power Africa partner, Energiya Global continues to demonstrate its industry leadership with this important investment in Liberia,” said Andrew Herscowitz, US Power Africa Coordinator.

Avraham Neguise, chairman of the Israel-Africa Caucus of the Israeli Parliament and member of Knesset, attested, “With 600mn Africans without electricity, the State of Israel can literally help African heads of state bring power to the African people.”

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