Ghana will today, 25th July, 2024 outdoor its first phase of 1000 megawatts solar project to provide power for companies in the free zone enclave.
At completion, the solar project, which will be the largest solar plant in Africa and the second in the world, would pave the way for companies to produce green products, a requirement to gain access to the European market.
Once in use, it is projected that the solar system will annually produce 24,750 MWh of clean, stable and sustainable electricity.
Mr Seth Mahu, the Director of Renewable Energy at the Ministry of Energy, told the Ghana News Agency that the rooftop project was significant, explaining that it would increase the country’s renewable energy stock to more that 200 megawatts installed capacity, representing 4.2 percent.
“From where I sit at the Ministry, I know that between the year 2024 and 2035, the country will attract not less than two billion dollars investment in that sector,” he said.
“In the last decade, the cost of solar has dropped so it is cheaper to produce electricity from solar than other plants. When the trend continues, the cost of production will reduce and that will scale down the unit price of products.”
The Director of Renewable Energy noted that the project would contribute to reducing the country’s carbon footprint under the nationally determined contributions.
Mr Mahu said the project would provide different levels of sustainable jobs over the next 20 years, which would help grow the economy.
“Solar is now very competitive. The advent of the battery energy storage system is addressing unstable power in the solar sector,” he said.
Owned by Helios Solar Company (Helios), part of LMI Holdings, the solar-rooftop project will supply 16.82 megawatt.
The innovative solar system is funded by the International Finance Corporation (IFC) as part of an all-encompassing $30 million clean power and water deal with LMI Holdings to support job creation and greener, more sustainable, and more competitive industrial development in the country.
Per the Ghana Energy and Investment Plan, the country is highly likely to play a key role in the generation mix.
It said the plan envisages that solar might account for the majority of capacity with over 150 giggawate in 2060.
The plan, however, said the fast build out of solar capacities would require significant technical, financial and policy support to simplify and accelerate projects development.
Source: GNA
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