Liberian govt, Sunergy to further discuss USD-100m solar plan

The government of Liberia has agreed to hold further meetings with Sunergy Inc (OTCMKTS:SNEY) to discuss the US miner's proposal to develop solar power projects for a total investment of roughly USD 100 million (EUR 88m).

Arizona-based Sunergy announced in early August it has submitted its official Expression of Interest to build, finance, operate and own solar projects in the West African country over the next 18 months. The company and a US-based independent power producer (IPP) have formed a consortium that is ready to offer financing for the project via a power purchase agreement (PPA) and sovereign guarantee or implementation contract, it noted at the time.

On Wednesday, Sunergy said that the Liberian Ministry of Lands, Mines and Energy has proposed further meetings to discuss the matter, subject to strict confidentiality agreements.

Sunergy’s proposal also envisages building a solar training institute.

(USD 1.0 = EUR 0.879)

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