On August 27th, 2019, the Private Financing Advisory Network (PFAN) hosted the 14th meeting of the Integrated Forum for Renewables Energy in Liberia (IFREL) at their office on Ashmun street, Monrovia, Liberia. PFAN is a multilateral public private partnership initiated by the climate Technology Initiative and the United Nations Framework Convention on Climate Change (UNFCCC). They connect green energy businesses with investors. IFREL is a monthly meeting for information exchange, networking and collaboration.
At the meeting the host Mr. Wilson of PFAN informed stakeholders about PFAN’s activity. They are interested in businesses that are good for the climate, and support them towards getting connected with investors. They work with existing businesses, help to grow business that have the potential to successfully grow with substantial loans (one million USD). PFAN prepares the business to present their business plans to investors and to negotiate for the conditions of loans or investments. There are several investment forums during a year.
After the presentation of the host, all participants could present themselves, give updates and share information of interest. The Ministry of Mines and Energy was represented by Mr. Alexander Freeman. He appreciated stakeholders for the fast growing of the Renewable Energy Sector of Liberia and for the Renewable Energy web-portal that is helping lot of people in finding opportunities and happening within the renewable energy sector of Liberia.
Mr. Jenkins Flahwor , responsible for the inclusive and sustainable Renewable Energy Development portfolio of the Embassy of Sweden, updated participants about the REACT grants: out of thirty-four companies that applied, fourteen have been shortlisted. Final selection will be done by AECF in October 2019. A second program, Beyond the Grid , will be launched in October or November 2019, the target is private sector companies. Companies can benefit from both Beyond the Grid Funds and REACT.
Mr. Leroy Boakai from Liberia Eco-Supply Venture Inc. presented the product their company wants to assemble and sell: an improved firewood cookstove that uses substantially less wood and can produce food for 100 people.
The LEAP network was represented at the meeting by Mr. Royston Gbelia. He encourages stakeholders within the Renewable Energy Sector to be a part of the network, registration is free. The network help to partner members with international organization.
Mr. Stephen Mulbah from giz/EnDev and part of the Renewables Liberia team invited all stakeholders to share more information on the Renewables Liberia web portal. To make it easier for interested people to find RE businesses and learn what they do, a list of solar companies will be prepared, and all companies can also showcase products, installations or other offers.
The IFREL meeting concluded with sharing information about upcoming opportunities. The next IFREL meeting will be hosted by Oasis at GIZ/EnDev office.