Kakata power plant

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Buchanan Renewable (Monrovia) Power Inc (BRP) was created to build and operate a 35-megawatt power plant (2x17.5MW) located near Kakata, approximately 50 kilometers from Monrovia to supply electricity to Monrovia. The plant was to be fuelled with woodchips from non-producing rubber trees provided by BRF. BRP was also developing a small biomass unit that can be deployed in rural towns and villages and will supply electricity to the villagers on a microgrid. On Friday, January 16, 2009, a concession agreement and a 25 year Power Purchase Agreement were signed between the Government of Liberia (GOL) and the Buchanan Renewable (Monrovia) Power Inc (BR Power). The estimated capital cost of the project is US$149 million. In September 2008, OPIC approved a USD$112 million loan to Buchanan Renewables. The project reached financial closure in March 2009. The first power from these plants was to be available by the end of 2010.