[bsa_pro_ad_space id=1]

BusinessGeneralInvestmentLiberia news

LEC & CEMENCO sign MoU to improve development 

The commissioning ceremony concluded with a signing event between the LEC, represented by Chief Executive Officer Monie Captan, and CEMENCO, represented by Managing Director Mr. William Ph. Gaignard.

By Lincoln G. Peters 

Monrovia, June 7, 2024: The Liberia Electricity Corporation (LEC) on 5 June 2024 officially signed a Memorandum of Understanding (MoU) with CEMENCO, commissioning and connecting the latter to the national electricity grid. 

Amb. Nora Deprez, Ambassador and Head of the European Union Delegation in Liberia, Minister of Mines and Energy Wilmot Paye, and Deputy Minister for Budget Tanneh Brunson graced the program.

Others at the program were the Managing Director of CEMENCO, Mr. William Ph. Gaignard, LEC Executive Director, Mr. Monie Captan, and LEC Chief Operating Officer, Mr. Kwame Kpekpena, among others. 

The commissioning ceremony concluded with a signing event between the LEC, represented by Chief Executive Officer Monie Captan, and CEMENCO, represented by Managing Director Mr. William Ph. Gaignard.

Remarking on the program, LEC Chief Executive Officer, Mr. Monie Captan, expressed excitement and appreciation to CEMENCO Liberia for being connected to the national grid.

Mr. Captan highlighted the corporation’s initiatives, challenges, and proactive measures, including integrating renewable energy sources like solar and hydro to enhance electricity efficiency.

[bsa_pro_ad_space id=1]

Responding after the signing ceremony, CEMENCO Managing Director Mr. William Ph. Gaignard thanked LEC and the team for the connection and described it as cooperation to improve local development. 

According to him, the company sees this as a means of improving production and reducing the cost of its products.

“We want to thank you for this MoU being signed here today. However, we hope and anticipate that … both institutions will live up to this MoU.”

“We see this as a great achievement and collaboration to improve local development and business,” he concluded. 

For her part, Amb. Nora Deprez, Head of the EU Delegation, emphasized the EU’s commitment to supporting Liberia in energy recovery and integrating young engineering students through TVET Program. 

She noted that the EU remains committed to improving road development and private sector growth to boost the investment climate and create decent jobs for Liberians.

Also, Deputy Minister Jocelia J. Tarpeh, speaking on behalf of the Ministry of Public Works, highlighted the use of CEMENCO’s products in public works and praised LEC’s steps in connecting CEMENCO to the national grid.

“This is a significant boost to national growth. I want to thank LEC for the connection of CEMENCO to the grid, it’s a milestone that should be extended to other sectors to reduce the cost of goods and services for all Liberians.”

“This MoU is indeed Lauderdale and I want to commendable LEC CEO and team for being farsighted for the country’s electricity sector,” she noted.

The Minister of Mines and Energy, Wilmot Paye, congratulated LEC and CEMENCO on this milestone, reiterating the importance of a mixed energy approach involving solar and hydro as outlined by the LEC CEO.

He emphasized that achieving energy sovereignty is crucial and must be done responsibly. Minister Paye noted that a policy review is underway to establish a balanced payment scheme, which would include placing government institutions on a prepaid plan similar to regular citizens, thereby supporting revenue generation for LEC and strengthening Liberia’s electricity sector.

[bsa_pro_ad_space id=1] [bsa_pro_ad_space id=2] [bsa_pro_ad_space id=3] [bsa_pro_ad_space id=4] [bsa_pro_ad_space id=5] [bsa_pro_ad_space id=6]

Leave a Reply

Your email address will not be published. Required fields are marked *

4 × 1 =

Back to top button