Since 2015, Ghana has embarked on a plan to develop high-impact solar projects. Facilitating measures have been adopted to help the private sector support the government’s efforts.
16.8 MW Rooftop Solar Plant in Tema
In Ghana, Helios Solar Company, a subsidiary of LMI Holdings, has initiated the construction of a $17 million rooftop solar installation in the Tema Industrial Free Zone, on the outskirts of the capital, Accra.
Reducing Carbon Emissions and Boosting Renewable Energy
The facility, with a production capacity of 16.8 MW, will be the largest of its kind in Africa and will help reduce carbon emissions by over 10,000 tons per year at the industrial site, according to statements made by the Minister of State for Energy, Herbert Krapa, as reported by Ghana Web.
He added that this project aligns with the government’s efforts to install 3,000 MW of solar projects by 2030.
In this ambition, Accra anticipates the participation of the private sector to achieve 10% renewable energy by that deadline. By the end of 2022, the country had an installed solar energy capacity of 112 MW.
Investment Supported by International Finance Corporation
It’s worth noting that the investment made by LMI Holdings was made possible thanks to a $30 million financing agreement concluded in 2022 with the International Finance Corporation (IFC).
The remainder of the funding is intended for the development of a water treatment and distribution plant that will supply businesses located in the new industrial zone of Dawa, near Accra.