CEMENCO Liberia has signed-up to be the largest customer to the Liberia Electricity Corporation (LEC) by connecting its factory to the LEC grid that will now serve as the main source of its power generation.
At a ceremony to commemorate the commissioning of LEC to CEMENCO held in Monrovia on Wednesday June 5, a formal agreement was signed between the LEC and CEMENCO that is intended to increase revenue for the NEC and reduce production cost of CEMECO.
The partnership took effect by concretizing long months of hard work and cooperation between the two entities, according to a report by the Observer.
The ambitious agreement is the fruit of a joint effort to promote and strengthen the local electricity network.
The agreement also means the LEC will not only be able to increase its investment capacities, but also allow CEMENCO to reduce its dependence on generators.
According to Mr. William Ph. Gaignard, Managing Director of CEMENCO, said this progress is crucial to improving the reliability of the company’s electricity supply, an essential factor for the economic and social development of the country.
He also said, in addition to the progress, his company CEMENCO, will be able to benefit from renewable electricity which is essential in the company’s approach to reducing carbon emissions.
Said William Ph. Gaignard: “It is undeniable that this agreement goes beyond the simple supply of electricity. It also represents an exceptional opportunity for exchanges between our two companies.
CEMENCO, as a priority partner, must play a key role in obtaining the supply of cement and ready-mixed concrete for all LEC projects, with qualitative and quantitative offers but also with the best financial solutions.”
“Our focus is to do two things, which include getting customers legally connected to the grid, creating access to both private and public sectors and paying attention to the energy transition. We, at LEC, will be moving towards an energy transition that moves us to renewable energy.”
Speaking, Mr. Monie Captan, LEC’s chief executive officer, commended CEMENCO for the confidence and disclosed of the LEC plans to connect other large businesses and entities, including the Roberts International Airport (RIA).
He said, the LEC business strategy is to ensure that people using its service are metered and connected because, according to him, a survey has shown that 98% of people that were in illegal connections did not have meters and their strategy was to ensure that they metered them which has reduced commercial losses significantly.
“Expending the grid is a challenge for the government. In terms of poverty reduction, it is our mission to create access to electricity.
“We are carefully working to ensure more commercial entities get connected to the National grid. Today, CEMENCO joins a number of large customers including the US embassy.
“I also want to inform you that in a couple of weeks the Roberts International Airport (RIA) will also be connected to the LEC,” he added.
Mr. Captain also announced that, through the assistance of the World Bank, LEC are extending Mount Coffey, which has a resort capacity of 80-megawatt and they will be extending it to 148-megawatt.
“The financing is available, we are now working on the procurement process. We are also adding the first utility size solar plant to the LEC generation portfolio which is a 20-megawatt solar plant at mount Coffey and that will be available by the end of next year. We are moving heavily to renewable energy so going forward, every hydro project we pursue we want to have a complimentary solar plant.”
Source: https://energynewsafrica.com