Chadds Ford, Pennsylvania, USA, November 1st, 2008 – Bridgestone Associates, Ltd (www.brdgstn.com) and Orion Energy, Inc. today finalized an agreement under which Bridgestone Associates will assist Orion Energy develop power projects in the Republic of Liberia. As part of the services to be provided under this agreement, Bridgestone Associates will work with Orion Energy on negotiations with the Government of Liberia; negotiations of power sales agreements with local commercial and industrial buyers, the Liberian Electricity Corporation and the Liberian Government; negotiations on rebuilding the local medium and high voltage distribution grid; and the completion of project funding, design, procurement and construction. An initial 10 MW plant is expected to be operational in late 2009.
“The planned 10 MW plant will provide critically needed power to Monrovia, the capital of this West African country” said George B. Bright, Executive Director of Orion Energy. “During many years of civil war, all power generation and electrical grid and distribution systems were ransacked or destroyed” continued Mr. Bright. “Currently there is only very limited power generation and minimal electrical distribution within the City, its suburbs, and within the whole country. One of the primary goals of the Liberian Government is to rebuild the electrical generation and distribution systems in order to improve safety and spur economic development. The planned 10 MW IPP plant will assist in achieving one of these Government goals.”
The Orion Energy plant will use Heavy Fuel Oil (HFO) to fuel large low and medium speed reciprocating engine generators. High speed diesel-fueled engines will be used for back-up and load following. The timing of the Orion investment in Liberia is strategic and establishes a strong-foothold in a country that has enormous potential for renewable power development, especially hydro electricity. This low cost hydro power generation is critical for the revitalization of the country’s large iron ore industry.
About Bridgestone Associates, Ltd.
Bridgestone Associates, Ltd. is a Chadds Ford, Pennsylvania, USA energy consulting and development company focused on the evaluation, development, financing, design, construction and operations of energy production facilities, and on the use and utilization of energy. The company provides these services to developers and owners of power generating and other energy related projects worldwide, as well as commercial and industrial energy users.
About Orion Energy Inc.
Orion Energy Inc. is a Washington DC based developer and owner of Independent Power Plants (IPP). Orion’s primary geographic focus is in West Africa and the African continent.