The Ministry of Mines and Energy, has signed a landmark Memorandum of Understanding (MoU) with HYDRONEO.
The MoU is for the development of a 20-megawatt hydropower plant in Nimba County.
The Agreement, according to a release, was signed at the Liberia–EU Business Forum in Brussels, and witnessed by Ambassador Dr. Teeko Tozay Yorlay.
The project, estimated at US$55.8 to US$60 million, will see HYDRONEO support the financing, construction, and operation of the facility.
Once completed, the plant, the release said, will boost national grid, improve electricity access in Nimba County, and surrounding areas and strengthen long-term energy security. The three-year construction phase is projected to create more than 1,000 jobs for Liberians, including engineers, technicians and skilled laborers.
The Brussels signing follows earlier strategic discussions held in Paris between Nimba County Superintendent, Kou Meapeh Gono, and HYDRONEO Chief Executive Officer (CEO), Samuel Zekri, facilitated by Amb. Yorlay.
The proposed site in Kokula, Yekepa, a mining town, has been identified for feasibility assessments following consultations with the Ministry of Mines and Energy and the Liberia Electricity Corporation.
A HYDRONEO technical delegation is expected in the country within six weeks to begin detailed feasibility and on-site studies.
The initiative is being described as a “transformative investment aligned with development priorities.”
It aims to expand reliable, clean energy, while driving economic growth and job creation.