Ghana’s renewable energy sector has been boosted with the commissioning of 16.8 megawatts rooftop solar project, which is the largest in Africa in Tema Freezone Enclave.
The $17 million project which is owned by Helios Solar Energy, a subsidiary of LMI Holdings, Ghana, a private firm, is mounted across a rooftop area of 95,754 m² on a Mega Warehouse which is also the largest warehouse in Africa.
The solar system is projected to produce 24,750 MWh of clean, stable, and sustainable electricity annually. It will provide power to businesses operating within the Tema Free Zones.
The project was fully funded by the International Finance Corporation (IFC) as part of a $30 million clean power and water deal with LMI Holdings.
The construction, installation and connection of the entire project was done by Ghanaian engineers and technicians.
Currently, Ghana’s total solar projects capacity stands at 186.9 megawatts peak, including those executed by private developers and state agencies.
Speaking at the commissioning of the project on Thursday, July 25, 2024, Mr. Herbert Krapa assured the audience that the government would continue to provide the enabling environment and policies for more private sector participation in renewable energy projects.
He said the project is significant because it underscored the power of the private sector in contributing to the government’s agenda of bringing growth, prosperity and development to Ghanaians.
Mr. Krapa said the government could provide some funding, but the biggest funding must come from the private sector, adding that the project points the private sector in the direction it needs to go to support the government’s vision of achieving 10% renewable energy sources in the nation’s energy generation mix by 2030.
He said the $17 million project, financed by the International Finance Corporation (IFC) of the IMF Group which covered an area of one million square metres, was a clear indication that there is room for more private sector players who are interested in supporting the government to meet its target.
These players, Mr. Krapa added, should take a cue from the private sector and reach out and partner the government “to ensure that together we are able to achieve that vision.”
Mr. Krapa indicated that the project would have a positive socio-economic impact, noting that “by this project you are creating greener and sustainable jobs for our people and helping us to meet our nationally determined contributions under the Paris Agreement.”
He also stated that the project would help to introduce skills and technology to young engineers as part of the development and maintenance.
He added that the solar project would also contribute significantly to improve the standard of living of the workers, adding that “the government is equally proud of you for that contribution.”
Regarding its impact on industry, Mr. Krapa said it would contribute to a reduction in cost of power and position the manufacturing sector in a competitive level since over time, solar energy leads to reduced cost in the mix.
“You are helping to power industry and you are helping industry to also meet their green credentials,” he said.
Mr. Krapa said the project feeds into the government’s overall vision for the power sector and more specifically the renewable energy vision.
“Government is alive to its ethical responsibility that we have to help protect the planet; we have come up with a national energy transition framework which we did consulting across all 16 regions and have concluded that by 2060 we should have walked a net zero pathway,” he added.
He announced that the government had modelled the National Energy Transition Framework into an investment plan which President Akufo-Addo launched on the sidelines of the United Nations (UN) General Assembly last year.
He said a significant number of projects are required to be executed for the implementation plan to see the light of day.
This project stands as a shining example of how private enterprises can lead the charge in driving environmental stewardship and aligning our operations with international standards for sustainability,” the Chief Executive of the Free Zones Authority, Mike Aaron Oquaye Jnr, said.
Mr Oquaye indicated that in a world increasingly focused on the implications of climate change, investments in renewable energy were not just desirable, they were imperative, adding that “Embracing this forward-thinking approach keeps us in step with our global counterparts and sets a benchmark for others to follow”.
The Managing Director of LMI, Adlai Opoku-Boamah, described the 16.8MW plant as the first step because the company was aiming at a target of 1000 megawatts of solar energy production by 2030 and as a first move, it had secured 200 acres of land for that.
He added that it had secured $110 million from IFC for the development of another 150 megawatts in the interim, and that the purpose was to drive industrialisation and prosperity.
Source: https://energynewsafrica.com