Ghana has officially launched the first phase of its ambitious 1,000-megawatt rooftop solar project. It will become the largest solar plant in Africa and the second largest globally.
The project aims to provide clean energy for companies in the free zone enclave and is set to generate an annual output of 24,750 MWh of stable and sustainable electricity. This will enhance Ghanaian businesses’ access to European markets (EU).
The project, which spans 100,000 square meters, was funded by the International Finance Corporation (IFC) of the IMF Group. Ghanaian engineers and technicians carried out the construction, connection, and installation phases, showcasing local expertise in renewable energy development.
During the commissioning ceremony, Herbert Krapa, Minister of State at the Energy Ministry, reaffirmed the government’s commitment to integrating renewable energy into the national grid. He emphasized the crucial role of the private sector in growth and development and highlighted its leaders and sector’s involvement in this initiative.
He emphasized the need for continued partnerships to foster a greener economy. “Solar energy has proven to be a cost-effective component of our energy mix and meets our green credentials. We encourage more partnerships to sustain these initiatives,” he added, making the audience feel like integral parts of this sustainable journey.
Ad “ai Opoku-Boamah, Managing Director of LMI Holdings, described the project as a significant step towards achieving energy independence and environmental stewardship. The solar rooftop project, owned by Helios Solar Company (part of LMI Holdings), will provide Helios and its partners with 16.82 megawatts of energy.
Amb. Mike Ocquaye Jnr., CEO of the Ghana Free Zones Authority, highlighted the strategic importance of free zones to Ghana’s economy. He emphasized the significance of cultivating a robust ecosystem of free zone enterprises in Ghana.
The solar project, part of a $30 million clean power and water deal with LMI Holdings, supported by the IFC, is not just about energy. This initiative aims to promote job creation and more sustainable and competitive industrial development in Ghana, offering hope for a brighter economic future.
According to the Ghana Energy and Investment Plan, the country is set to play a pivotal role in the global solar energy landscape. Projections indicate that solar could constitute a major part of the energy capacity, exceeding 150 gigawatts by 2060. However, achieving these targets will require substantial technical, financial, and policy support to expedite and streamline project development.
