Liberia is highly vulnerable to the impacts of climate change. 70% of the population work in the agriculture sector and with the country’s dependency on agricultural goods, the increased frequency of extreme weather events threatens the livelihoods of millions.
In its Technology Needs Assessment, Liberia prioritized renewable energy technologies for both mitigation and adaptation in the agriculture sector. With the right climate technologies, the significant availability of biomass generated by the sector can help both reduce emissions and improve climate resilience.
Building on the Technology Needs Assessment and related Technology Action Plan, a Green Climate Fund Readiness project is helping develop a renewable energy investment framework as part of the efforts to achieve Liberia’s NDC commitments to generate 30% of its energy from renewable energy sources by 2030.
To reach the NDC target, Liberia estimates a need of:
- A total of 100 MW of renewable energy generation
- Investments of about USD 242 million by independent power producers
The renewable energy investment framework will support Liberia in developing policy, regulatory, and investment frameworks to translate these targets into action through financially sound investment opportunities.